CHK and their state of confusion on royalties.

   After over 3 years of royalties seems like it never ends . It never has been easy working with CHK. But the letter I got last week probably takes the cake. It states I owe them a little over $ 9,000. They're telling me that the well was set up wrong in the beginning with Stat oil and CHK. Supposedly they are partners and CHK was marketing Stat oil gas so we only received a check from CHK. Now Stat wants to market their own gas CHK SAYS we owe them Stat oil percentage they paid us and Stat oil owes us . Something just doesn't seem right about all of this.

Views: 2864

▶ Reply to This

Replies to This Discussion

Permalink Reply by pacman on November 18, 2014 at 5:43am

   I did receive what they are calling a NEGATIVE SUSPENSE DETAIL 19 pages with 72 lines on each page it is somewhat like the royalty check . It looks like they are showing the volume of only what Stat oil should have been paying me + all the red letters and negatives and naturally my account balance. I had to become knowledgeable over the past years but I don't think anyone could be prepared for this.I guess we will have to see who shoots what at me next.

Permalink Reply by Alan Bowers on December 1, 2014 at 4:25am

Pacman,

Send them a response telling them you want to see an Excel spreadsheet showing columns for:

Total Volume Oil Produced

Chesapeake Share of Volume Oil

Chesapeake Price per Barrel of Oil

Stat Oil Share of Volume of Oil

Stat Oil Price per Barrel of Oil

Volume of Barrels of Oil Paid by Chesapeake

Price per Barrel on Volume of Barrels of Oil Paid by Chesapeake

Amount Paid By Chesapeake (the sum of this column should match sum of checks received from CHK for Oil)

Total Volume Natural Gas (McF) Produced

Chesapeake Share of Volume  Natural Gas (McF)

Chesapeake Price per McF Natural Gas

Stat Oil Share of Volume of  Natural Gas (McF)

Stat Oil Price per McF Natural Gas

Volume of  Natural Gas (McF) Paid by Chesapeake

Price per McF on Volume of Natural Gas (McF) Paid by Chesapeake

Amount Paid By Chesapeake (the sum of this column should match sum of checks received from CHK for Natural Gas)

Total Volume Natural Gas Liquids (NGL's) Produced

Chesapeake Share of Volume Natural Gas Liquids (NGL's)

Chesapeake Price per Barrel of Natural Gas Liquids (NGL's)

Stat Oil Share of Volume of Natural Gas Liquids (NGL's)

Stat Oil Price per Barrel of Natural Gas Liquids (NGL's)

Volume of Barrels of Natural Gas Liquids (NGL's) Paid by Chesapeake

Price per Barrel on Volume of Barrels of Natural Gas Liquids (NGL's) Paid by Chesapeake

Amount Paid By Chesapeake (the sum of this column should match sum of checks received from CHK for Natural Gas Liquids)

What they sent you was only PART of the picture.  What the above reply is asking for is to see the WHOLE picture in one spreadsheet.

Also, check your lease again to see if you have a clause that says "All Payments are NON-REFUNDABLE" such as the one that exists in the ALOV-CHK Lease agreements.  Chesapeake has gone back to people even with a non-refundable clause in the lease and asked them for the money back.  Chesapeake was told NO and had the clause pointed out to them.

Permalink Reply by Jesse V. on November 18, 2014 at 6:59am

After this and everything else that has gone on with CHK I really wish a national campaign could be worked up to blacklist and bury CHK once and for all. I can't say that I can recall anyone ever having a good experience with them. Bradford Co. Pennsylvania is being royally screwed over by their "transportation fees" and other deductions and I'm sure it's the same for other areas of the country.

0ym9x5ag7ury2Permalink Reply by 0ym9x5ag7ury2 on November 18, 2014 at 2:02pm

Don't forget that being paid a royalty on a bogus sale isn't a fair royalty payment.

After the Dept Of Justice breaks the ice, we will need to sue for the share of the royalties owed from the actual market sale of our products.

I'll be here to remind everyone if you all should forget.

Permalink Reply by pacman on December 2, 2014 at 2:41am

      UPDATE CHK  is still applying our royalties to there account. We are dealing with an accountant from CHK  she is telling us STAT OIL is responsible for remitting payment directly to you for the portion of gas they market. STATOIL IS telling us they can not locate our name on the documents they received from CHK and maybe just maybe STATOIL chose not to participate in our interest. And for the last week CHK quit responding I'll will do what I have done in the past bug the HELL OUT OF THEM pull every number and every email I have saved for four years till I get some type of reply. THIS GETS SO OLD JACKING AROUND WITH CHK I SOMETIMES WONDER IF IT'S WORTH IT !!!!!!!

0ym9x5ag7ury2Permalink Reply by 0ym9x5ag7ury2 on December 2, 2014 at 9:17am

Jesse,

      That's what the McDonald Law Firm from Texas is trying to do, but they are suing one on one rather than a Class Action Suit. Could mean a lot of money for them and a 30% to 50% transfer of wealth from every landowner that joins the suit.

But it is a Bury CHK type of affair if you don't mind getting it from the lawyers at the same time.

RSS

© 2024   Created by Keith Mauck (Site Publisher).   Powered by

Badges  |  Report an Issue  |  Terms of Service