Chesapeake willing to settle natural gas royalty lawsuits in Pennsylvania

Chesapeake Energy Corp. has agreed to pay Pennsylvania landowners $30 million to settle federal lawsuits over the company's disputed natural gas royalty payments, but the deal hinges on Pennsylvania Attorney General Josh Shapiro resolving a 2015 lawsuit filed by the state against the shale-gas producer over deductions from royalties, according to the Philadelphia Inquirer. The newspaper reports that Chesapeake's lawyers have told a federal judge in Scranton, Pennsylvania that they had reached an agreement to settle several longstanding class-action suits involving royalties. The Inquirer says the deal calls for payments to 14,000 Chesapeake natural gas leaseholders, and it allows them to "reset" their leases to clarify the terms under which they are paid royalties. For more, read the full story.

Oil & Gas Litigation, Pennsylvania