Unless you exclude yourself from the Settlement Class, if the Settlement is approved, you will be a Participating Class Member. As a Participating Class Member, you will receive any portion of the Net Settlement Fund allocated to you and will be bound by all orders and judgments entered by the Court regarding the Settlement. If the Settlement is approved, you will not be able to sue, continue to sue, or be part of any other lawsuit against any of the Released Parties concerning any of the Released Claims.
If the Court enters a final order approving the Settlement, all Class Members, on behalf of the “Releasing Parties,” will release any “Released Claims” they have against the “Released Parties.” This means that if you remain a member of the Settlement Class, any and all claims related to underpaid and unpaid interest for alleged Late Payments made during the Claim Period will be released and discharged.
“Claim Period” means July 28, 2016 through June 24, 2020.
“Released Claims” include any and all claims arising from any legal or equitable theory related to earned statutory interest on Late Payments allegedly made by Defendant directly to Owners, and Late Payments allegedly made by Defendant in its role as operator on behalf of non-operating working interest owners, between July 28, 2016 and June 24, 2020 for O&G Proceeds from the Oklahoma Wells on Exhibit 6 to the Settlement Agreement, which alleged Late Payments did not also include the earned statutory interest prescribed by the PRSA, as well as all claims that could have been asserted in any forum or venue related to unpaid statutory interest under the PRSA for the Late Payments allegedly made by Defendant as described above, whether known or unknown, whether at law or in equity, or under any statute, and including all relief and remedies, except for claims excluded from the scope of Released claims in the next sentence of this paragraph. No other claims are released, including but not limited to: (1) any and all claims against Casillas Petroleum Corporation; (2) claims of Owners for earned statutory interest on any Late Payments allegedly made by Defendant prior to July 28, 2016 or after June 24, 2020; (3) claims of royalty owners for statutory interest on the underpayment of royalty based on breach of express and/or implied covenants of oil and gas leases and/or force pooling orders; and (4) any other claims that class members may have against the Released Parties other than the specific earned statutory interest claims under the PRSA set out in the first sentence of this paragraph.
“Released Parties” means Casillas Operating, LLC, Casillas Petroleum Resource Partners, LLC, CPRP Services, LLC, Casillas Petroleum Resource Partners Holdings, LLC, Kayne Anderson Capital Advisors, L.P., a Delaware limited partnership, and each of its respective affiliates (including, without limitation, its and its affiliates’ various portfolio companies), and all of their respective successors-in-interest (the “Companies”), and all parents, affiliates and subsidiaries of the Companies, to the extent those Companies, parents, affiliates, and subsidiaries of said Companies directly or indirectly own interests in, or operate or have operated, the wells which have been studied and analyzed by Plaintiff’s and Defendant’s experts and are listed on Exhibit 6 to the Settlement Agreement, and only to the extent of the working interests reflected on Exhibit 6 to the Settlement Agreement and for which potential damages have been calculated by those experts. Specifically excluded from this release is Casillas Petroleum Corporation.
“Releasing Parties” means Plaintiff and all Settlement Class members who do not timely and properly opt-out or submit a request for exclusion from the Settlement, and who are not otherwise excluded from the Settlement Class by order of the Court separate and apart from the individuals and entities excluded by virtue of the Settlement Class definition contained in Paragraph 1.46 of the Settlement Agreement, without regard to whether a member of the Settlement Class actually received a payment from the Net Settlement Fund, and without regard as to whether any payment was correctly determined.