how can they just quit paying royalties , they are getting paid millions . reason not to pay = gas price is to low lying stealing and cheating! is all it is . no laws! to protect us . we are screwed ! i wont say who because they will sue me . herd this is happening as well so whatch what you say on here .
yes selling gas at loss so they say = not paying royalty's so they are stealing
we just had our royalty payments stopped by Vantage, is this who you have?
mark pavinich 412 973 1434
What if I was never paid royalties but a release date was set and no checks?? Have been in contact with them and they keep sending inquiries to no avail. Any suggestions?
Vantage just stopped paying us royalties, is this who you have?
There are multiple post about vantage ceasing to pay royalty checks - are the leases you have gross leases or net leases? If they are gross, then the reason that they are producing at a loss, seems like a difficult argument. Even if net, the well is drilled and producing, and it would seem that their LOE shouldn't be such that they are actually netting less than $0/mcf, furthermore, as a mineral owner (depending on your lease terms of course) - you are responsible for most of the costs associated with production, maybe just post production costs. I saw a few post where Vantage stated they miscalculated previously paid royalties and it could be a situation where they overpaid for some reason early on, and now their only option to recoup is to net current payments from the amounts thy over paid.
With that said, I believe there are multiple articles available about Vantage's difficulties of late - they pulled their IPO and have been trying to sell the firm - neither of those should impact normal course of business transactions such as paying royalties. Take a look at your leases - are they net or gross, and have you called owner relations and ask what the he__ is going on?
Has anyone looked up the records to see what/if the well(s) is still producing or if they shut in?
we have met with them and they said just what you mentioned that they over paid or incorrectly paid and are not recouping. Our lease has a no deduction clause and yes they are still producing. We basically have to wait a bit for them to send us the letter explaining how and why, then we will have our attorney run with it. Of course if the letter never comes we will start. And I know about the IPO and their other problems, but for them to continue to sell our gas and not pay royalties will not be accepted.