Royalties...finally
Finally started getting our royalty checks from Chesapeake and Stat Oil. I was a member here before but nothing was happening with our property and all everyone was offering was conjecture and hearsay. The checks we have gotten from our well in Bradford county are really not that good. We must have gotten an average production well. We have 15 acres in two units and the on that is producing is about 9 acres and the total checks between the two oil companies total about $1500 dollars for three months of production. The gas prices they sold the gas out was well below the well head price that you see on tv or on Marcellus shale forum. The gas was sold for over $1.50 less than you see everywhere and the amount chespaeake takes out for production is between 34-38 per cent which is ridiculous. Hopefully, the price of gas will rise in the future to give us a little more in royalties. Just wanted to post this because when I was a member before was kind of upset that no one would say what they were getting and told myself when i received royalties I would share the info. Really thought we would be in for a windfall but I guess it all depends on the output of the well and the thing is we only have one well drilled on the pad and it doesn't look like more wells will be drilled in the near future. Just have to hope the other unit I am a part of will produce better. If any one has any questions feel free to ask. Thanks
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Replies to This Discussion
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Permalink Reply by daniel cohen on
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Josie,
Clearly there are a lot of questions that need some answers, and the question of regulatory oversight to keep an eye on the O/G companies appears NOT to be too high on our lawmakers list. Since we send lawmakers into office to look after the little guy and to make sure he's not being shafted unfairly, I'd think that part of our attention ought to be to alert them about our discontent.
Just where are our representatives on the points being raised here? Anyone have access to them, and if so, what ought we do about informing them?
Dan
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Permalink Reply by mark ayers on
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I would just like to remind people that Statoil bought a one third interest in CHK leases in the Marcellus, so CHK's royality payment should be 2/3 of the total gas sold and Statoil should be one third...I wonder if they are sorry they got involved with CHK....
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Permalink Reply by daniel cohen on
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Mark,
I believe that there are other partners as well as Statoil. I think Matsui and Anadarko also partnered up with CHK.
Dan
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Permalink Reply by Barbara on
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this month....after no checks at all from CHK for the previous two months.....the check from them and from statoil were the same. other months...june, july, aug......statoil was closer to one half of the total. no other companies seem to be involved...tho i had heard that several were now involved. have only had paperwork from CHK and statoil.
bradford county....signed in 2008 with CHK
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Permalink Reply by Jim P on
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This is interesting...I am on an old gas lease held by production with a 12% royalty *BUT* the only thing they can deduct is a severence tax...I think I am better off on the old lease IF they drill to be truthful! I cannot get land signup bonus, but in the end it might actually be better!
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Permalink Reply by Mike C. on
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This has also been litigated. The producer simply would be instructed to move the rate to 12.5%. It does not invalidate the lease.
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Permalink Reply by Jim P on
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I live in Ohio and my lease does not give a percentage, my mistake, but rather a 1/8 royalty , so it would be 12.5% with the only thing that can be deducted is a severence tax..anything deducted more than that would create a non-compliant lease therefore voiding the lease..I would think...I get a royalty check now from the clinton well and they never deducted anything from it..
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Permalink Reply by Stan G on
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How does one go about auditing your statement?
I got my 1st check from Chk and then a few days later from Statoil. Only a part of my land is in this one small unit of 504 acres.
I have several issues. Take July production only; CHK sold it for 2.56. Statoil sold it for 2.816. Gas from the same well why so different?
My payment decimal, the number they use to determine my share, is different. If I have a certain amount of acreage in a certain size pool with a 15% royalty rate wouldn't these be the same? (0.00143908 vs 0.00186784). Doesn't seem like a lot but it makes a difference in money received!
Each co has a different production number. When adding the total it seems like Statoil has about a 34.2% share of the well.
CHK took about 37% out for deductions and Stat took about 20%. Why such a difference?
If I take the July production reported by Chk and multiply it by the 2.56 rate it comes to a gas value of 76381.70 yet on my stub the value they put down is only 76248.50. Not a whole lot of difference but why is it $133.20 off? Statoil's figure is only off by $.79
Spend some time reading these things and you start scratching your head and wondering more and more...Who are those lawyers with the class actions???Stan
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Permalink Reply by Tico on
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Now I tried to get my october check from Chesapeake and they say they are mailing out two months behind as opposed to what the offices in towanda and Oklahoma originally said that they mailed out one month behind,,oh well , I guess they do whatever they want ,,and I tried to get my income taxes they took out of my first check that they weren't supposed to and I have to wait another month for that,, guess the same saying applies here also , you can't fight city hall
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Permalink Reply by lance on
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Wow, I thought 15 acres would pay way better than that. But I didnt know we could be in more than 1 unit. at atime. I also was wondering if evryone in the unit gets paid or just the ones who get drilled under. I have 21acres in guernsey county. Shell was all over it for 5 k acre. So far I dont know of any wells being drilled within a mile of me. Maybe Chesapeke is the reason why, I dont know what Shell will be like. I guess I was one of the few that got paid the bonus out of my group. Good luck in future royalties....
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Permalink Reply by Deci Ruiz on
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We have 12 acres and we are in 2 different units 8 in one and 4 in the other.
We signed with Cheaspeke but have been "passed" to Southwestern. the unit with 8 acres was started on Nov 1 the other unit is going to be drilled in Feb 2013. We were told the first pad will have 6 to 8 wells and the other will start with 3 wells. No Royalties yet but I hope its better then what I'm reading )-:
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