Chapter 11 Bankruptcy Notice

Anyone else besides me get a bankruptcy notice for about 130 or so gas companies?  Well, at least I got the signing bonus.  Sigh.  Apparently it is just not in my future to benefit from the energy boom.

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Permalink Reply by cj wyalusing on August 31, 2015 at 2:20pm

And what countie and state would you be in ? Cj

0ym9x5ag7ury2Permalink Reply by 0ym9x5ag7ury2 on August 31, 2015 at 3:13pm

Chris,

     You may have dodged the bullet. Take a look at this story in Living On Earth: Shrinking Natural Gas Royalties.

It's an interview of Propublica's journalist Abrahm Lustgarten talking about Royalties and Chesapeake Energy.

In September 2013 Abrahm stated that landowners are receiving aproximately 10% of the royalty in their lease. I find that to be about right at Buck Well 1H, plus no one in Ohio is being paid a royalty for Natural Gas liquids and other producers are claiming NGLs don't exist in WV & PA while they are taking the NGLs free.  Not being stolen from on some of my un-drilled land is fine with me. Before productions starts again we need laws to protect us from the fraud we are currently living with.

Also if you are under production and your producer declares Bankruptcy, they will continue taking your well products and tell you that your not a creditor so you don't get paid for what your producer takes.

You can celebrate now.    http://loe.org/shows/shows.html?programID=13-P13-00037

0ym9x5ag7ury2Permalink Reply by 0ym9x5ag7ury2 on August 31, 2015 at 3:35pm

Chris,

Why would you get a notice about 130 companies?

I think Chesapeake has 10 or so companies.

Permalink Reply by Chris Vaught on August 31, 2015 at 4:54pm

My property is in southwestern PA, Greene Co.  It was not Chesapeake.  It was Alpha Natural Resources, Inc., et al, and includes many of the coal companies, and by default all of their natural gas subsidiaries.  My lease was with Pennsylvania Land Resources, which is the gas company associated with the coal company that had mined under my property about 20 years ago.  There are over 130 companies listed in the document as included in the filing.

Permalink Reply by Chris Vaught on August 31, 2015 at 6:49pm

I'll try to post it.  Hold tight.

Permalink Reply by Chris Vaught on August 31, 2015 at 7:03pm

Can you see these jpeg files I uploaded?  I have one more I need to do separately…page 6.

Permalink Reply by Chris Vaught on August 31, 2015 at 7:05pm

Not sure they uploaded.  I got an error message.  Let me try one page at a time.

Attachments:
Permalink Reply by Chris Vaught on August 31, 2015 at 7:06pm

First page of debtors.  There are 3 pages.

Attachments:
Permalink Reply by Chris Vaught on August 31, 2015 at 7:07pm

Page 5 - second page of companies.

Permalink Reply by Chris Vaught on August 31, 2015 at 7:08pm

Trying again for page 5.

Attachments:
Permalink Reply by Chris Vaught on August 31, 2015 at 7:09pm

Last page - Page 6 

Attachments:
0ym9x5ag7ury2Permalink Reply by 0ym9x5ag7ury2 on September 1, 2015 at 4:34am

Here is an Action Plan from Texas for when your O&G Purchaser  (Producer) files for Chapter 11. It might help you develop an action plan for your state when you stop receiving Royalty checks. The oil and gas will more than likely continue to be taken free.

Texas Land And Mineral Owners Association

WHEN YOUR OIL & GAS PURCHASER GOES BROKE

A Royalty and Mineral Owner’s Perspective and Action Plan for When

You Receive Notice from the United States Bankruptcy Court

 

http://www.tlma.org/resources%20files/When%20Your%20O&G%20Purch...

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