Comment

Comment by Cathy Galbraith on December 16, 2010 at 6:35pm

Will someone please take explain how land pooling and royalty

pay out.  If the royalty is 15% and 640 acres are in a pool how does

everyone get paid.

Comment by HB on December 16, 2010 at 1:17pm

We signed on about the 15th of Sept. as I recall.  Good question about the time - the agreement says 120 days (no qualifiers).  However, we have been verbally assured several times that they intend and (need to for tax reasons) send the $$ before the end of 2010.  Getting close now, so we'll see.

Comment by Chuck White on December 16, 2010 at 6:02am

HB,
How early in September did you sign?
Read your payment agreement.
Is the 120 days working days only and does it exclude weekends and holidays?
It could be after the first of the year.

Comment by Chuck White on December 16, 2010 at 5:55am

We signed with DPS Penn the first of November with a 45 day payment agreement to assure we received our money prior to the end of the year.
Our biggest concern was what this radical Government would throw at the drilling companies, or at us if we waited.
From what I see going on in the Senate and Congress right now it is still questionable.
We received our check yesterday and feel we were more than well paid and glad it is over.
We would also be more than happy if we never see a drilling company on our property or if we ever receive a royalty payment.

Comment by HB on December 15, 2010 at 10:36pm

Cheryl, myself and a neighbor signed leases with them back in September.  The lease language gives them 120 days to pay or the lease will be invalid (this is a good thing - without such an addendum they have your signed lease and if they don't pay, you have less leverage to get the $$$ out of them).  Anyway, we're still waiting, but they have assured us that the $$ will come before the end of the year.  I have no reason to doubt them (yet?!).

Comment by Cheryl on December 15, 2010 at 6:31pm

Thanks for the info. I'd be curious to know if anyone has ever actually gotten a pay out from them. The only two people I've heard about who have signed w Wellington are still waiting on their money. The part about the lease being void if no payment is made makes me very leary. 

Comment by Dan on December 15, 2010 at 6:24pm

Cheryl, I haven't ever talked to them, but I know a fellow landowner who signed a lease with them, and the last time I spoke with him he had been waiting 60 days for his money, after which the lease would be void if they didn't pay him.  To see other comments on Wellington you can go to the Groups homepage (click here) and type Wellington into the search box and it will bring up posts that have their name in it.

Comment by Rod Dietrich on December 15, 2010 at 6:11pm

Cheryl,  I have had a few calls from them and  they made like 3 different appointments, and no showed every time without a call.  Then several weeks later would call again, make an excuse and reschedule, then again no show.  Rod

Comment by Cheryl on December 15, 2010 at 6:01pm

Has anyone signed a lease with the Wellington Resource Group? If so, what has been your experience with them. Any information would be very much appreciated.   

Comment by tom dowdle on December 15, 2010 at 11:42am

I think part of the McClain farm (Zitko) was stripped.

• ‹ Previous
• 1
• …
• 143
• 144
• 145
• 146
• 147
• …
• 156
• Next ›
• Page