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Oneok agreed to pay $850,000 to resolve claims that it failed to pay mandatory interest on late payments.
The settlement benefits oil and gas well owners who received late payments under the Production Revenue Standards Act (PRSA) for their proceeds from Oklahoma wells or whose proceeds were remitted to unclaimed property divisions of any government entity by the defendant between Feb. 28, 2016, and Feb. 28, 2023, and whose payments did not include the statutory interest required by state law.
Plaintiffs in the class action lawsuit claim Oneok failed to pay statutory interest on late payments for proceeds from oil and gas production sales. According to the plaintiffs, Oneok only pays this mandatory interest to owners who demand it.
Oneok Field Services Co. is a midstream service provider that controls one of the United States’ largest natural gas systems.
Oneok hasn’t admitted any wrongdoing but agreed to a $850,000 settlement to resolve the interest class action lawsuit.
Under the terms of the settlement, class members can receive a cash payment based on the interest Oneok owes them. Exact payments will vary.
The deadline for exclusion and objection is Sept. 11, 2023.
The final approval hearing for the settlement is scheduled for Oct. 2, 2023.
No claim form is required to benefit from the settlement. Class members who do not exclude themselves will automatically receive a settlement distribution.
Who’s Eligible
Oil and gas well owners who received late payments under the PRSA for their proceeds from Oklahoma wells or whose proceeds were remitted to unclaimed property divisions of any government entity by the defendant between Feb. 28, 2016, and Feb. 28, 2023, and whose payments did not include the statutory interest required by state law.
Potential Award
Varies
Proof of Purchase
N/A
Exclusion Deadline
09/11/2023
Case Name
Dinsmore v. Oneok Field Services Co. LLC, Case No. 4:22-cv-00073-GKF-CDL, in the U.S. District Court for the Northern District of Oklahoma
Final Hearing
10/02/2023
Settlement Website
Claims Administrator
Dinsmore v. Oneok Settlement
c/o JND Legal Administration, Settlement Administrator
PO Box 91304
Seattle, WA 98111
[email protected]
877-381-0330
Class Counsel
Reagan E Bradford
Ryan K Wilson
BRADFORD & WILSON PLLC
James U White Jr
JAMES U WHITE JR INC
Defense Counsel
Timothy J Bomhoff
Patrick L Stein
MCAFEE & TAFT PC
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