Market Overview

PostRock in Final Royalty Settlement

PostRock Energy Corporation (Nasdaq: PSTR) today announced that the United States District Court for the District of Kansas had preliminarily certified a class and approved a settlement of all claims against the Company by its Kansas royalty owners. Following a 21 day period during which members of the Class may opt out, a final hearing has been scheduled for December 30. In the settlement, a total of $7.5 million will be paid to the royalty owners: $3 million in January 2012 and $4.5 million in January 2013. As part of the settlement, all ambiguity in the calculation of prospective as well as prior royalties in the Company's lease agreements will be eliminated. A similar settlement with the Company's Oklahoma royalty owners became final in June.

Posted-In: News Legal

 

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