No Money from STAT for 9 Years Due to Over Pay

They told us we had an over pay of $15,000.

I called them back and argued with them then asked to speak to someone else, she told me no it was $5,000 and bc of it being such a small interest on their part we are only making about $46. dollars a month now.

It will take us 9 yrs bc we were supposedly being paid the wrong decimal interest since 2012, so there ya go.

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0ym9x5ag7ury2Permalink Reply by 0ym9x5ag7ury2 on August 4, 2016 at 7:03am

Across the US landowners are beings short changed by Producers.

Like drilling for well products, underpaying royalties is something Domestic Producers do. There's been no prison time handed out and the lawyers are making plenty "representing both sides".

So who do your trust, your instincts and the few dollars in royalties you were paid for giving away a fortune in well products, or your producer?

Find a lawyer that only represents the landowners and take this up with them.

I'm betting you are one of thousands being told this OVER PAYMENT STORY, so you will have a Class Action law suit and only pay if you win, assuming you read and correct the lawyers retainer/contract before signing.

Don't sign just anything a lawyer puts in front of you, they are needy and will take as much as possible. Negotiate a fair deal for yourself before signing.

Some lawyers are collecting land owners to lease to Chesapeake then representing Landowners who have a problem with Chesapeake. Who do you think gets sold out for the best money? Selling out is part of doing business when you are in the law business. Most of us know that from first hand experience. The corporation always have more money to be made than an individual.

Permalink Reply by G.H. on August 4, 2016 at 7:12am

Eclipse has been pulling this same BS with landowners as well.  When things got rough all of a sudden they "reevaluated" their leases to see what extra deductions they could take, and then took them retroactively.  Nine years is pretty crazy though.

0ym9x5ag7ury2Permalink Reply by 0ym9x5ag7ury2 on August 5, 2016 at 2:37am

G.H.

      Chesapeake decided Ohio Landowners were overpaid royalties, so the Little Guys followed suit. They are now aware that the laws no longer apply to them, theft is now the norm.

Paying a Landowner a 0 to 2% royalty when they have a 20% Gross lease or a even a 12% Net lease is a crime.

Permalink Reply by patty webber on August 5, 2016 at 11:03am

I figured it was going on all over and nothing we can do bc money talks as they say

Permalink Reply by Frank Walker on August 5, 2016 at 11:59pm

Desire by "government" to decapitate fossil fuel industry could be at play here, in part.  Examples include the Federal government, the government of NY State, and other government structure where Democrats play a significant role.  People vote and otherwise influence actions of government.  Landowners are people and they are numerous.  When landowners are being cheated by companies in the fossil fuel extraction business, those same landowners are less likely to influence their government, at whatever level, in favor of fossil fuel development.  Turning it around, landowners who are pleased with and benefiting from fossil fuel development are more inclined to influence their government, and to vote, in favor of government's support for fossil fuels.

Thus, government (at whatever level) opposed to fossil fuel development is less likely to have impetus to intervene when landowners are being cheated.  I'm not thinking this is a sole factor, or even the largest one.  Another key factor impeding redress for cheated landowners is undoubtedly money contributed by fossil fuel development companies to politicians.  Those contributions are more likely to go to Republican politicians than to Democrats.

In the altogether, these factors and likely others create a toxic mix for landowners in need of honesty and fair treatment from their putative "business partners". 

Permalink Reply by Keith Mauck (Site Publisher) on August 12, 2016 at 6:53am

A jump down from $15,000 to $5,000. 

Instills all kinds of confidence in their process doesn't it? 

Permalink Reply by Charles Kessler on August 13, 2016 at 4:29am

Sounds like Rice Energy!

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