I received my royalty statement today from EQT . They sold my oil for $33.21 . Oil is at a $75. Obviously they are playing the game. Would like to get other members of this unit to help divide the cost and hire a firm to do an audit of this Unit from thecalculations have them hosing the mineral owners for millions.. I will organize a mtg and bring in a firm to give us a free look to start .Call me at 330.763.3553
BORDAS AND BORDAS MINERAL MANAGEMENT IN MOUNDSVILLE IS DOING JUST THIS AND WILL TELL YOU WHAT THEY OWE YOU
CONSULTATION IS FREE
BBMM has yet to get a penny back for a mineral owner, they monitor payments, but have never been successful. Though the first consultation is FREE, they charge 5% of your royalty, to monitor the payments.
Heck, I will monitor your payments for you and only charge you 4%.
JUST THOUGHT I WOULD MENTION THEM, I ATTENDED ONE OF THEIR SEMINARS AND THEY WILL CHARGE 20% OF WHAT THEY RECOVER---THEY ALSO STATED THAT THEY DID RECOVER OVER 250K FOR A CLIENT
How would one go about finding out their track record? I would be interested to know since our family is also looking for a good mineral management company.
consultation is free, just ask, they are charging 5% to check and monitor your royalty
Other than reading the mail what are the doing? Doesn’t seem feasible to audit. That costs many thousands. Unless your royalties are very substantial they aren’t going to spend but a few minutes. If they had multiple clients in the same unit they could compare but again they would still have to audit to check if anyone in the unit was being cheated. An attorney owns part of the rights under us and we talked about putting an audit clause in our lease but didn’t waste the ink. The cost of auditing is way out of our league. I would be cautious paying any % for a review unless there was something in place that could actually do anything about being cheated. This is why everyone should have banded together at the beginning of leasing. Way to many neighbors believed the land man when they told folks to keep their deal to themselves because they were getting a better deal than their neighbors. Please make sure your not just paying an attorney for little or nothing.
Check out this site for posted price in WV, OH, PA.
http://www.ergon.com/prices. Depends on quality and quantity.
was it 'oil' or 'liquids' aka NGL's? NGL's are in the $30's
I hope you all take them to the cleaners I am now with EQT IN pa. DRY GAS AREA If they do this with oil why not gas Demand Justice for the land owners
As Jeffrey asked, you better check if this is oil or NGLs. If NGLs, it sounds like you were compensated graciously. If oil you better check what a forensic audit of a well costs. I would guess many of the attorneys can’t afford to have this done if it was their farm. Of course the attorneys are eager to take your money in fees even if they don’t get you a penny. Good luck.