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This settlement is closed!
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Camino Natural Resources has agreed to pay $2.1 million as part of a settlement resolving class action claims it failed to pay statutory interest on payments that were allegedly late, in violation of Oklahoma law.
The two Classes consist of those who received working interest, royalty, and/or overriding royalty payments from Camino for oil and/or gas proceeds from wells Oklahoma with check dates up to and including May 31, 2020.
Camino Natural Resources is an independent oil and natural gas company in Oklahoma that owns more than 100,000 net acres.
The class action complaint estimates there are hundreds or potentially thousands of Class Members.
The plaintiff in the class action lawsuit accused Camino of a number of things, including making untimely payments to Class Members and failing to pay interest on the late or delayed payments.
Lessors such as the plaintiff own minerals such as oil and gas, according to the class action lawsuit. Lessors enter into agreements with lessees, such as the defendant, who have the money, labor, and knowledge to extract and market those minerals, to allow them to take minerals from the lessors’ land.
In the past, the revenue from a well typically was split, with 1/8 going to the lessor and 7/8 to the lessee, the complaint states.
Due to the prevalence of wells, better seismic technology, and increased drilling rig efficiency, the lessors more recently have received 3/16 or 1/4 of the revenue.
However, companies, including Camino, “have used undisclosed internal accounting practices to try to keep for themselves as much of the well revenue as possible,” the class action lawsuit claims. “These accounting practices are at the heart of every oil-and-gas royalty case.”
Because of this, the plaintiff claimed, lessors are unaware of Camino’s actual practices, which enables the company to breach the lease with no accountability.
Lessors therefore have the options of confronting the lessee and potentially recovering a payment, doing nothing, or filing a class action lawsuit, the complaint said.
Camino denies all allegations of wrongdoing or liability, but has agreed to a settlement in this case.
No claim form is needed to take part in the Camino settlement.
The deadline to opt out of or object to this settlement is April 28, 2021.
A final hearing in the case is scheduled for May 12, 2021.
Who’s Eligible
Those who received working interest, royalty, and/or overriding royalty payments from Camino for oil and/or gas proceeds from wells Oklahoma with check dates up to and including May 31, 2020.
Potential Award
Varies.
Proof of Purchase
N/A
Claim Form
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.
Claim Form Deadline
N/A
Case Name
Betty Jean Johnston, et al. v. Camino Natural Resources LLC, Case No. 1:19-cv-02742-CMA-SKC in the U.S. District Court for the District of Colorado
Final Hearing
05/12/2021
Settlement Website
Claims Administrator
Johnston v. Camino Settlement
c/o JND Legal Administration, Settlement Administrator
P.O. Box 91232
Seattle, WA 98111
888-906-0564
Class Counsel
Reagan E. Bradford
Ryan K. Wilson
BRADFORD & WILSON PLLC
Defense Counsel
David C. Holman
CRISHAM & HOLMAN LLC
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