Yes. The OGEC encourages settlement once a case moves to investigation. About 99 percent of cases that are not dismissed prior to the contested case hearing phase are resolved by agreement with the OGEC in a "Stipulated Final Order".
The Stipulated Final Order generally contains agreed upon facts (but sometimes includes facts that one party does not agree to) and terms of the settlement. The settlement may require payment of a penalty as part of the order. When payment of money is one of the terms of settlement, the amount is usually smaller than the amount that would be imposed after a contested case hearing for the same violation