A class-action lawsuit has been filed by Texas property owners alleging that Devon Energy used sham transactions to underpay natural gas royalties.<\/p>\n
On January 6, class-action status was granted by U.S. District Judge Ed Kinkeade in Dallas, allowing the four individuals who brought the lawsuit to represent the interests of thousands of landowners. The judge found that there were common legal issues, that Devon Energy owed a common duty to the members of the class, and that a formula can determine the damages owed to each class member, if any.<\/p>\n
The landowners claim that the production arm of Devon Energy sold the natural gas to an affiliate, Devon Gas Services, at a low well head price. Devon Gas Services then used its Bridgeport plant to process the gas and deduct a 17.5 percent processing fee from royalty checks, the lawsuit alleges. <\/p>\n
The plaintiffs called the processing fee \u201cunreasonable and lucrative\u201d and stated that (more…)<\/span><\/a><\/p>\n","protected":false},"excerpt":{"rendered":" A class-action lawsuit has been filed by Texas property owners alleging that Devon Energy used sham transactions to underpay natural gas royalties. On January 6, class-action status was granted by U.S. District Judge Ed Kinkeade in Dallas, allowing the four…<\/span><\/p>\n