Calyx Energy late oil and gas well payments class action settlement

Calyx Energy agreed to a $1 million settlement to resolve claims it violated Oklahoma law by failing to include statutory interest in late payments for oil and gas well proceeds.

The settlement benefits non-excluded consumers and entities who, between Aug. 31, 2016, and Oct. 31, 2022, received late payments under the Production Revenue Standards Act (PRSA) from Calyx (or Calyx’s designee) for oil and gas proceeds from Oklahoma wells, or whose proceeds Calyx sent as unclaimed property to a government entity, and whose proceeds did not include the statutory interest the PRSA required.

According to the class action lawsuit, Calyx failed to pay statutory interest on late payments from oil and gas well proceeds. These late payments allegedly caused financial harm to consumers and failed to comply with Oklahoma laws.

Calyx Energy is an oil and natural gas company based in Oklahoma.

Calyx hasn’t admitted any wrongdoing but agreed to a $1 million settlement to resolve the class action lawsuit.

Under the terms of the settlement, class members can receive a cash payment proportional to the statutory interest owed on their original late payments. No payment estimates are available at this time, but class members who would otherwise receive a payment of $5 or less will not receive a distribution.

The deadline for exclusion and objection is March 6, 2024.

The final approval hearing for the settlement is scheduled for March 27, 2024.

No claim form is required to benefit from the settlement. Class members who do exclude themselves will automatically receive a settlement payment.

Who’s Eligible

Non-excluded consumers and entities who, between Aug. 31, 2016, and Oct. 31, 2022, received late payments under the Production Revenue Standards Act (PRSA) from Calyx (or Calyx’s designee) for oil and gas proceeds from Oklahoma wells, or whose proceeds Calyx sent as unclaimed property to a government entity, and whose proceeds did not include the statutory interest the PRSA required.

Potential Award

Varies

Proof of Purchase

N/A

Claim Form

N/A

NOTE: If you do not qualify for this settlement do NOT file a claim.

Remember: you are submitting your claim under penalty of perjury. You are also harming other eligible Class Members by submitting a fraudulent claim. If you’re unsure if you qualify, please read the FAQ section of the Settlement Administrator’s website to ensure you meet all standards (Top Class Actions is not a Settlement Administrator). If you don’t qualify for this settlement, check out our database of other open class action settlements you may be eligible for.

Exclusion Deadline

03/06/2024

Case Name

Indianola Resources LLC v. Calyx Energy III LLC, Case No. 6:21-cv-00235-RAW, in the U.S. District Court for the Eastern District of Oklahoma

Final Hearing

03/27/2024

Settlement Website

Indianola-Calyx.com

Claims Administrator

Indianola v. Calyx Settlement
c/o JND Legal Administration
PO Box 91343
Seattle, WA 98111
877-595-0185

Class Counsel

BRADFORD & WILSON PLLC 

BRADY SMITH LAW PLLC

Defense Counsel

FOX ROTHSCHILD, LLP 

TAYLOR FOSTER MALLETT DOWNS RAMSEY & RUSSELL PC