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.
Good Morning. We are land/mineral owners in Washington County in a producing unit. Up till this point we have had very few frustrations with our driller - Rice Energy - and little to complain about as we signed on early and negotiated for a great lease with no deductions, before the company went public and leases became more restrictive. With the upcoming acquisition of Rice by EQT, however, we have many concerns and unanswered questions of things moving forward, knowing absolutely nothing about them. General frustrations include the standard; fluctuating gas prices and not knowing from one month to the next what they are, not being privy to future plans for unit (if any), the asinine ideas of the legislature re: taxes, fees, and other factors straining the gas industry's ability to sustain and expand, etc. Never had a complaint with Rice, short of it taking a few days to get through to someone with questions, but always getting through with answers provided. Not expecting such great customer svc from EQT but time will tell.
Awesome detailed answer, thx!
me too Rice has been good EQT must follow our lease to the letter I wonder the same thing about EQT. Greene Co. PA
Chesapeake, Anadarko, Mitsui and Statoil royalty deductions of $.65 to .85/mcf whereas other operators come in at more reasonable $.20/mcf.
Bad faith pooling where exploration companies hold acreage outside producing units with no intention to develop.
I hear you, thx.
G.S Gass, Can I ask what kind of lease do you have concerning deductions? I am curious as to what my deductions will be with my "Market Enhancement" clause lease. It is my understanding that the O&G companies can charge for everything with the Market Enhancement clause, Transporting, gathering and ALL of the rest.
Hello bad faith pooling.
Anybody being force pooled into a bad lease holding adjacent acres ?
One concern is royalty owners don't get communications from the drillers when well drilling, fracing, etc. commences.
Yeah, they don't invest much in royalty owner relations. thx!
keith swn has an owner relations dept, if you email or text them they get back to you very quickly.the guy I talked to had answers to all my questions and very polite they are good guys so far lol
Thanks for the inquiry Keith. Briefly, I receive royalties from CHK,Mitsui,Anadarko,Statoil on 2 wells owned by CHK in Bradford County Penn.. My concern going forward is to try to keep them honest and to live up to the lease agreements. So far that is not happening, and there are suits involved to force the issue. Sad, but clearly they are not good neighbors.
Thanks Dan...is there any difference in the companies are they all falling short?