I am dealing with 4 separate O/G companies with partial interests in the same well.The original drilling company was/is CHK, who later sold out partial interests to 3 others. 2 of the companies…Continue
Started this discussion. Last reply by daniel cohen Mar 11.
No matter where your well is located, one's royalties are calculated on the basis of gross value minus the costs. I understand that-but what I have a hard time wrapping my head around is who checks…Continue
Started this discussion. Last reply by daniel cohen Sep 5, 2012.
ACCOUNTING QUESTIONS AND ISSUESI have been receiving several conflicting bits of advice, all from professionals regarding certain accounting issues. Time now to do the legwork to try to unravel the…Continue
Started Jun 10, 2011
daniel cohen has not received any gifts yet
It's not the amount of money up front that you get, nor is it the royalty % that ought to rivet your attention. The real question is how much of whatever you get will you be able to keep? I just finished paying .43 cents on the dollar back to the government- that's a hefty bite out of the proceeds before any royalties have started to flow.
The expertise of knowledgeable accountants should have been sufficient. It was not. I have been getting all sorts of conflicting…Continue
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