WCHE NEWS - A subsidiary of energy giant Chesapeake Energy is - TopicsExpress

WCHE NEWS - A subsidiary of energy giant Chesapeake Energy is increasing the amount it will pay to settle a federal lawsuit over natural gas drilling royalties for Pennsylvania landowners. Radio PAs David Payne reports, Chesapeake is increasing the amount from $7.5 million to $11 million dollars to settle the class action suit claiming it wrongly withheld too much in post-production fees from royalty checks. The money would go to thousands of Northeastern Pennsylvania lease holders. The earlier settlement had been in limbo after lease holders objected. Under the revised agreement, subject to a judge’s approval, lease holders would be paid 55% of post-production cost taken until June 1st, 2014. The earlier agreement cut off reimbursements on September 1st, 2013. Follow @FrankWCHE for all the latest news and information.

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