Kevin L. Jeter, et al. v. Bullseye Energy, Inc., et al.
Jeter v Bullseye Energy
Case No. 12-CV-411-TCK-PJC

Welcome to the Jeter v Bullseye Energy Settlement Website

If you have received royalty payments from Bullseye on a gas well located in the counties of Nowata or Washington, State of Oklahoma, a class action settlement may affect your rights.

What is this lawsuit about?

A class action lawsuit was filed against Bullseye Energy, Inc., CEP Mid-Continent, LLC, and others, seeking monetary damages and other applicable relief associated with the alleged underpayment of royalties and related claims (the "Lawsuit"). The parties have agreed to resolve the Lawsuit through a settlement.

The Lawsuit is currently pending in the United States District Court for the Northern District of Oklahoma located in Tulsa, Oklahoma, Case No. 12-cv-411-TCK (PJC), consolidated with Case No. 15-cv-455-TCK (PJC) (the "Court"). The Lawsuit was initiated by individual royalty owners acting on behalf of themselves and other similarly situated royalty owners (the "Class Representatives") against the Defendants, seeking monetary damages and other applicable relief associated with the alleged underpayment of royalties and related claims. The Court has not ruled on the class certification or the merits of the claims asserted by the Class Representatives, or the affirmative defenses asserted by the Defendants. Instead, the Class Representatives and the Defendants have entered into a Settlement Agreement.

Who is included?

Subject to certain exceptions, the Settlement Class is specifically defined as follows:

All persons or entities who own or owned minerals in the state of Oklahoma subject to an oil and gas lease or (b) who are or were unleased mineral owners who have elected under the Oklahoma Corporation Commission Forced Pooling Order to take the bonus/royalty option, covering the released period, wherein (1) they received royalty on the sale and disposition of gas attributable to Bullseye Energy, Inc.’s and CEP Mid-Continent, LLC’s interests in well(s) located in the counties of Nowata or Washington; and (2) their royalty payments were reduced as a result of the reduction of production volumes and/or production proceeds attributable to marketing, gathering, compressing, dehydrating, treating, processing or transporting of hydrocarbons produced from well(s) located in the counties of Nowata or Washington.

What are the potential benefits of the Settlement?

Some of the primary terms of the Settlement Agreement, which the court is being asked to approve, are as follows:

Bullseye and CEP will pay the settlement amount of $700,000.00 (seven hundred thousand dollars) as consideration for all Class Members releasing the Released Claims against the Released Parties and entering into a covenant not to sue (all as defined in the Settlement Agreement). In addition, Bullseye has agreed to calculate royalties payable to Class Members in the future, for a period of ten (10) years, based upon a substantial reduction in the fuel, compression and gathering fees previously being deducted when arriving at the price upon which royalties had been paid in the past.

Your Legal Rights and Options

Do Nothing By taking no action, you will be bound by the Settlement Agreement, if approved by the Court. You are advised that the Class Representatives and Class Counsel believe that the proposed Settlement is in the best interest of the Class and, therefore, they intend to support the Settlement Agreement at the Fairness Hearing.
Ask to be Excluded To opt out of the Class, you must notify Class Counsel and Counsel for the Defendants in writing no later than twenty (20) days before the Fairness Hearing. If you do not opt out of the Class in writing in a timely fashion, you will remain a Class Member and will be bound by any rulings, decisions, or judgments affecting the Class.
Object In order to object, you must file a statement with Mark McCartt, Court Clerk of the United States District Court for the Northern District of Oklahoma within twenty (20) days before the Fairness Hearing.
Attend the Fairness Hearing Ask to speak in Court about the fairness of the Settlement.
For more information about the lawsuit and how it affects you, please visit the Important Documents and FAQs pages of this website.

For More Information

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

Mail

Jeter v Bullseye Energy
c/o JND Legal Administration
PO Box 91349
Seattle, WA 98111