I'm trying to get a sense for where the mineral owning community is today in terms of what are their frustrations and what are their needs?
Are these evolving or have they stayed essentially the same? I know there are the issues that remain the same, i.e. Royalty deductions etc, but what else is on your radar and what would you change? Either post below or email me at email@example.com.
They are all following CHK lead.
I would have thought with the law suits already settled against Chesapeake that others would more honest with their deductions.
SWE bought CHK's holdings in WV.
Then HG Energy bought SWE holdings with SWE retaining the Marcellus.
I have to say HGE is the best we have ever dealt with in many ways.
HG opened 2 more of our wells which has our royalty checks increasing.
HG is easy to deal with and boy what a refreshing feeling this is.
Problem is with SWE; they are setting up their drilling schedules by getting as many new permits as they can.
Of course they are under the time gun is get the new wells drilled as fast as they can.
Then here we are in a definite holding pattern to get our Marcellus drilled with no drill date ever in sight.
One thing we have noticed in the 'water gathering' done daily by CHK, is that HG does not go daily to gather water. hmmm
We went daily and checked our wells. We saw a lot of oil in our tanks when CHK was coming daily.
We were never paid for the oil nor was it ever acknowledged to even be there.
I hired an independent lab to come and test our oil. It is the very best oil there is. That day I ever got a pint jar and collected the oil to have.
I am glad I did that.
We do feel very ripped off by CHK and SWE and can only hope there comes a time for more class action suits to emerge.
We were in 2 of them with CHK. Payout was huge.
Your minerals are in WV?
Yes, Mon county.
What are you thinking regarding the daily water needs?
Yeah, we have minerals in similar fringe area in Louisiana, i agree.
I'm a property owner in a production unit in Butler County (Oakland Township), PA. A few questions come to mind:
How does the producer decide when (what day to sell) the product each month on the market? Is there a formula?
How do I know the price I am being paid for my gas is the correct price (for instance the producer pays the property owner based on the lowest price/mcf on the given month or on the day of the sale, ...etc)? Is this information available publically?
Is there a way to have your payments audited independently or are we dependent on the information being given by the producer? A local bank did this for time, but all they did was look at state reported production and compared that to my monthly statements.
In summation, I would like it explained to me how a producer arrives at the figures they pay me, or for the deductions the take from my payment, and can these be independently audited?
Let me be clear I like my producer and they have to this point been great with timely payments. But, I've also found it's always good to have a second set of eyes.
If anyone has any answers to these questions, be happy to respond.
Regards to all!
Is there a way to have your payments audited independently....?
WE'VE BEEN TRYING TO GET A PICTURE FOR THIS TOO AND IT'S A COMPLICATED AND TIME CONSUMING PROCESS THAT INCLUDES TRACKING THE HYDROCARBONS VIA PIPELINE GATE TICKETS.
First I believe that you have to see if there is a clause in your lease to allow you to Audit. I have talked to some Lawyers who have told me that they have people in their office or who they contract with that will audit for you. There are also companies out there that do auditing. FYI: When the O& G company who has my lease wanted to ratify to increase the unit acreage they tried to take out the Auditing clause.
I own a few acres in southern Allegheny County.Equitable (now EQT) has had the drilling rights to the gas for many,many years.We were treated fairly when our lease was negotiated.They have been drilling wells on a pad that abutts our property.These wells are spudded,but not yet producing. I totally agree with the poster that felt she is left out when it comes to future plans,drilling directions and production timetables.If we own the land over the gas,why should we have to pay a fee of 10$ per well to recieve this information?