DASA Investments, Inc. v. EnerVest Operating, LLC, et al.
DASA-EnerVest-SM Energy Settlement
6:18-CIV-083-SPS

Welcome to the DASA-EnerVest-SM Energy Settlement Website

If You Have Received a Payment for Production from an Oil and Gas Well in Oklahoma, You Could Be a Part of a Proposed Class Action Settlement

Important Update: Following the Final Fairness Hearing on March 23, 2020, the Court entered the orders finally approving the class action settlement. Copies of the orders are available for download from the Important Documents page. The settlement requires that the Order and Final Judgment become Final and Non-Appealable before the distribution of settlement benefits can occur.

What is this lawsuit about?

The Litigation seeks damages for Defendants’ alleged failure to pay statutory interest on payments made by Defendants (or on behalf of Defendants) outside the time periods set forth in the Production Revenue Standards Act, 52 Okla. St. §570.1, et seq. (the “PRSA”) for oil and gas production proceeds from oil and gas wells in Oklahoma. Defendants expressly deny all of Plaintiff’s factual and legal allegations. Defendants also expressly deny all of Plaintiff’s allegations that they have done anything wrong, breached any duties under the PRSA, committed any type of fraud, been deceitful, or been unjustly enriched. Defendants also deny they are liable to Plaintiff or any of the Class Members for any of the claims and allegations in the Litigation or that it would be appropriate to award any type of damages, an accounting, or injunctive relief. Defendants further deny it would be appropriate to certify a contested class based on the facts and claims at issue in the Litigation. The Court has made no determination with respect to any of the parties’ claims or defenses.

Who are the Defendants?

The Defendants are EnerVest Operating, LLC; EnerVest Energy Institutional Fund XIII-A, L.P.; EnerVest Energy Institutional Fund XIII-WIB, L.P.; EnerVest Energy Institutional Fund XIII-WIC, L.P.; and EnerVest, Ltd. (the "Enervest Defendants"); and SM Energy Company ("SM").

Who is included in the Settlement?

The Settlement Class consists of the following individuals and entities:

All non-excluded persons or entities who received working interest, royalty, and/or overriding royalty payments from a Defendant (or a predecessor of a Defendant) for oil and/or gas proceeds related to wells located in Oklahoma at any time prior to November 1, 2019 (“Owners”).

For information on who is excluded from the Settlement Class, please read the Notice of Proposed Settlement.

What does the Settlement provide?

In settlement of all claims alleged in the Litigation, SM has agreed to pay $1,000,000.00 in cash and the EnerVest Defendants have agreed to pay $7,000,000.00 in cash, and the EnerVest Defendants have made other non-monetary agreements which are estimated by Plaintiff to have a net present value of at least $7,000,000.00. See the Settlement Agreement for full details.

Your Legal Rights and Options in this Settlement

Option
Deadline
Event
Participate in the Settlement --- If the Settlement is approved, you do not need to take any further action to participate in the Settlement and receive a payment.
Exclude Yourself March 6, 2020
at 5:00 p.m. (CT)
(Passed)
If you do not wish to be a member of the Settlement Class, you must exclude yourself and you will not receive any payment from the Settlement Fund. You cannot bring or be part of another lawsuit or arbitration against any of the Released Parties based on any Released Claims unless you exclude yourself from the Settlement Class. See FAQ 13 for detailed information on how to exclude yourself from the Settlement.
Object March 6, 2020
at 5:00 p.m. (CT)
(Passed)
If you do not exclude yourself and you wish to object to any part of the Settlement, the attorneys’ fees or litigation costs requested by Plaintiff’s Counsel, or the Case Contribution Award requested by Plaintiff, you must (file an objection with the Court and provide written notice of your objection to the Settlement Administrator, Plaintiff’s Counsel, and Defendants’ Counsel. See FAQ 18 of for detailed information on how to object to the Settlement.
Attend the Final Fairness Hearing
 

March 23, 2020
at 2:00 p.m. (CDT)
(Passed)

If you have submitted a valid and timely written objection, you may (but do not have to) attend the Final Fairness Hearing and present your objections to the Court at that hearing. See FAQ 22 for more information about attending the hearing.
Do Nothing --- If you do nothing and you are a Class Member, you will receive your portion of the Net Settlement Fund (if any). You will be bound by the Settlement, and neither you nor any other Releasing Party will be able to start a lawsuit or arbitration, continue a lawsuit or arbitration, or be part of any other lawsuit or arbitration against any of the Released Parties based on any Released Claims.

For More Information

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

Mail

DASA-EnerVest-SM Energy Settlement
c/o JND Class Action Administration, Settlement Administrator
P.O. Box 91232
Seattle, WA 98111-9332