Indianola Resources, LLC v. Calyx Energy III, LLC
Indianola v. Calyx Settlement
21-CV-235-GLJ

Welcome to the Indianola v. Calyx Settlement Website

If You Are or Were an Owner Paid by Calyx Energy III, LLC for Oil-and-Gas Production Proceeds from an Oklahoma Oil-and-Gas Well, You Could Be a Part of a Proposed Class Action Settlement

What is this lawsuit about?

The Litigation seeks damages for Defendant’s alleged failure to pay statutory interest on allegedly late payments under Oklahoma law. Defendant expressly denies all allegations of wrongdoing or liability with respect to the claims and allegations in the Litigation. The Court has made no determination with respect to the merits of any of the parties’ claims or defenses.

Who is included?

The Settlement Class in the Litigation consists of the following individuals and entities:

All non‑excluded persons or entities who, during the Claim Period: (1) received late payments under the PRSA from Calyx (or Calyx’s designee) for oil‑and‑gas proceeds from Oklahoma wells, or whose proceeds were sent as unclaimed property to a government entity by Calyx; and (2) whose proceeds did not include the statutory interest required by the PRSA.

The Claim Period means checks or payments dated between and including August 31, 2016, through October 31, 2022, subject to the terms of the Settlement Agreement regarding Released Claims. A list of the persons or entities excluded from the Class can be found in the Notice of Proposed Settlement, which is available for download from the Important Documents page.

What does the Settlement provide?

In settlement of all claims alleged in the Litigation, Defendant has agreed to pay One Million Dollars ($1,000,000.00) in cash (“Gross Settlement Fund”). In exchange for this payment and other consideration outlined in the Settlement Agreement, the Settlement Class shall release the Released Claims (as defined in the Settlement Agreement) against the Released Parties (as defined in the Settlement Agreement). The Gross Settlement Fund, less Plaintiffs’ Attorneys’ Fees and Litigation Expenses and Administration, Notice, and Distribution Costs, Case Contribution Awards, and any other costs approved by the Court (the “Net Settlement Fund”), will be distributed to final Class Members pursuant to the terms of the Settlement Agreement.

The Class Representatives and Plaintiffs’ Counsel believe that the Settlement is in the best interest of the Class, and, therefore, they intend to support the proposed Settlement at the Final Fairness Hearing.

Your Legal Rights and Options

These deadlines may be moved, canceled, or otherwise modified, so please check this site regularly for updates.

Do Nothing, Participate in The Settlement

By taking no action, your interests will be represented by Plaintiffs as the Class Representatives and Plaintiffs’ Counsel.  As a Class Member, you will be bound by the outcome of the Settlement, if finally approved by the Court. If you are entitled to a distribution pursuant to the Allocation Methodology, you will receive your portion of the Net Settlement Fund, and you will be bound by the Settlement Agreement and all orders and judgments entered by the Court regarding the Settlement.  

Exclude Yourself
(received by March 6, 2024, at 5 p.m. CT)

If you do not wish to be a member of the Settlement Class, then you must exclude yourself from the Settlement Class. If you validly request exclusion, you will not receive any distribution from the Net Settlement Fund, you cannot object to the Settlement, and you will not have released any claim against the Released Parties. You will not be legally bound by anything that happens in the Litigation. For more information, see FAQ 6.

Object
(received by March 6, 2024, at 5 p.m. CT)

Any Class Member who wishes to object to the fairness, reasonableness, or adequacy of the Settlement, any term of the Settlement, the Allocation Methodology, the Plan of Allocation, the request for Plaintiffs' Attorneys’ Fees and Litigation Expenses and Administration, Notice, and Distribution Costs, or the request for a Case Contribution Award to Class Representatives may file an objection. For more information, see FAQ 7.

Retain Your Own Attorney

You have the right to retain your own attorney to represent you at the Final Fairness Hearing, which will be held on March 27, 2024, beginning at 2:00 p.m. If you retain separate counsel, you will be responsible to pay his or her fees and expenses out of your own pocket. For more information about the Hearing see FAQ 4.

For More Information

Visit this website often to get the most up-to-date information.

Mail
Indianola v. Calyx Settlement
c/o JND Legal Administration
PO Box 91343
Seattle, WA 98111