From rift to resolution—a drawn-out squabble over millions of dollars in oil royalties fought out in a Dallas federal court, recently concluded with the parties reaching an agreement that the plaintiffs would dismiss the case in return for a confidential amount of compensation.
In 2013, a large group of mineral rights owners, made up of oil billionaire Edward Bass and Trinity Valley School among others, sued Chesapeake Operating and Chesapeake Exploration, as successor by merger to Chesapeake Exploration (collectively called Chesapeake), and its related entities based on allegations of underpayment of oil royalties, oil and gas leases and assignments for approximately 42 producing wells that spanned across just less than 4,000 acres. The plaintiffs filed the complaint in the U.S. District Court for the Northern District of Texas, Dallas Division, against Chesapeake for damages, equitable relief, declaratory relief and attorney fees regarding royalty and override underpayments.
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