Generally, the allocation of the Net Settlement Amount (as set forth in the “Plan of Allocation”) shall be proportionately allocated among Class Members based upon their decimal interest in the royalty interests in each Class Well, and the volume of Bravo’s gas produced from the owner’s well from January 1, 2014–May 31, 2018. The Plan of Allocation is subject to Court approval.
The distribution to Class Members described above is based on the following assumptions: (a) that very few sales of royalty interests have occurred during the specified time period; (b) that, where sales did occur, the parties intended for the buyer to receive payment for past claims; and (c) that, where royalty interests passed through inheritance, devise or interfamily transfers, it was the intent that the heir, devisee or transferee receive the right to receive payment for claims based on past production. To the extent these assumptions are not correct in relation to particular transfers of interests; the Court will be asked to order that the Class Member who receives payment shall in turn make payment to the proper party.
Class Representative will submit the Summary Final Distribution Report to the Court for approval at the Settlement Fairness Hearing. The Summary Final Distribution Report will show the distributions to each Class Member for whom an address and amount of distribution of Settlement Proceeds can be determined. Please check this website for the Summary Final Distribution Report in December, 2018.