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OAG/Chesapeake Settlement Information Session, Settlement Deadlines & Ombudsman

November 9 @ 6:30 pm

The Office of Attorney General will be hosting an Information Session on its Settlement with Chesapeake Energy on Tuesday, November 9, 2021, at 6:30 pm at the Towanda Area Jr/Sr High School at 1 High School Drive, Towanda, PA 18848.  Attorneys for the Office will provide an overview of the Office of Attorney General’s Settlement with Chesapeake Energy.  They will also explain the election options available to Pennsylvania Royalty Owners with Chesapeake Leases regarding payment of future royalties.   The Attorneys will not provide any advice on what option to select.  The Attorneys will be available after the Information Session for questions until 9:30 pm.  They will also be available at the Bradford County Commissioners’ Offices at 301 Main Street, Towanda PA, 18848 on November 10, 2021 from 8:30-4:30 for questions.  

Under the Office of Attorney General’s settlement with Chesapeake Energy, Pennsylvania Royalty Owners with Chesapeake Leases have until November 29, 2021, to make their election about how royalties will be paid in the future.  Royalty owners who do not make a choice will be deemed to have made the default election under the settlement.

If Pennsylvania Royalty Owners with Chesapeake Leases have not yet received a letter from Epiq, the Claims Administrator, about their election options, the Office recommends that they go to http://www.PAroyaltysettlements.com to make their election or contact Epiq, at 855-907-2082 or e-mail chesapeakeinfo@epiqglobal.com.  They may also contact the Attorney General’s Office at (717) 787-4530 or by email at Antitrust@attorneygeneral.gov if they have any questions.  The Settlement website identifies options and allows royalty owners to make their elections about how royalties are to be paid in the future.  It also identifies how royalties will be paid under royalty owner leases should they fail to make an election.  

The Office of Attorney General has also selected an Ombudsman, Martindale Consultants, Inc., to assist in the resolution of any issues, questions or complaints by Pennsylvania Royalty Owners with Chesapeake Leases related to the calculation of royalties and any deductions.  Royalty Owners should continue to contact the Office of Attorney General for resolution of their concerns and the Office will forward any complaints that cannot be resolved to the Ombudsman. The Ombudsman will also assist the Office in ensuring Chesapeake Energy’s compliance with the terms of the Settlement.  

Martindale Consultants, Inc. is an employee-owned company with more than forty-five employees with a combined 240+ years of experience focused on contract compliance, revenue and royalty matters, accounting and litigation support.  Since its inception, Martindale has performed thousands of audits of oil and gas company records in the area of oil and gas purchases, revenue and royalty distribution and payments and internal audits of oil and gas companies’ accounting processes. Their clients include governmental entities, royalty owners and individuals.  They have performed multiple audits for governmental entities in Colorado, Michigan, and Texas. These reviews involved validating and verifying produced volumes, revenue remitted, and both affiliate and third party deductions.  Additionally, they have conducted hundreds of lease compliance royalty reviews.  Martindale is involved in NARO, Council of Petroleum Accountants Societies (COPAS), Association of Certified Fraud Examiners and the Institute of Internal Auditors. 

Details

Date:
November 9
Time:
6:30 pm

Venue

Towanda Area Jr/Sr High School
1 High School Drive
Towanda, PA 18848 United States
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