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Chesapeake Energy to pay $119M in Oklahoma royalty case

Jan. 26, 2015 5:13 PM ETChesapeake Energy Corporation (CHK) StockCHKBy: Carl Surran, SA News Editor
  • Chesapeake Energy (NYSE:CHK) agrees to pay $119M under a preliminary settlement with Oklahoma mineral rights owners who accused the company of improper royalty payments dating back to 2004.
  • Landowners accused CHK of improperly withholding royalty money and charging them for the costs of processing and transporting gas; the class action lawsuit affects more than 11,800 wells in Oklahoma.
  • CHK has faced similar lawsuits in Pennsylvania and other places where it operates.

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