Is anybody noticing the deductions by Encinco. In addition to some taxes they are now deducting for “production costs”. When asked she said all leases are being reviewed and after that, the deductions would be refunded if they weren’t to deduct them. Said it would take months before they are done. Mine amounted to almost 1/3 of gross.
Wonder if this is their way of getting cash and then will pay back months later. I didn’t notice it until now as they didn’t get the online owner info working until now. Waiting for June’s report but sounds like they are going to keep up the deductions until they finish review of all leases.
Is there anything we can do
Can't even begin to explain how ignorant this thought process is..
1) Wells decline, therefore regardless of commodity price, annual income will never be flat.
2) In 2013, wells were being drilled between 5-7500 ft. So that inherently says well costs were closer to 1500-2000 per ft vs being around $1000/ft or lower now.
3) In 2013, gas prices were $3.50-4.00 plus so wells paid out a little sooner. Today we are less than $2.50 NYMEX which means local gas prices are closer to $2.00. All things equal, this means wells take twice as long to payout as they did before (oversimplication).
4) REVENUE BECOMES LESS AND LESS THROUGH TIME! ITS SIMPLE DEPRECIATION OF AN ASSET. Wells don't gain value through time, they lose value.
Used to really enjoy coming on this website and having meaningful discussions/listening to landowners of the region.
Wow....you need to start getting the real red pills. Those generic ones have really screwed up your head.
I actually feel really bad for anyone at Encino who is unlucky enough to pick up the phone when nutso Ron calls.
But back to the topic at hand - I have some royalties that switched over from CHK to Encino. CHK did not pay on a monthly basis, but Encino does. So the checks are smaller, but they seem to add up to roughly the same amount that I was getting from CHK. Now, I'm not saying that either one of them is paying me a totally honest royalty, but that's been my experience with Encino so far.
I have been following GMS for over 10+ years now and always was happy for the advice & insights into what was happening within the gas industry here in PA, Ohio & WV. There were the Chesapeake issues in NE PA that were disturbing to learn about but I believe have been resolved. What I`m reading about now for gas companies in Ohio is disturbing to read, particularly the idea of organized conspiracies being advanced by posters for these gas companies. I`m a landowner located in Central PA and I`m not aware of these same business practices here by major gas companies like EQT, CNX, Chevron or XTO. Even smaller gas companies like H&H or Apex aren`t being criticized like the ones in Ohio. If these companies are engaging in fraudulent behavior why hasn`t legal action been taken against them? It would seem the Ohio State attorney general would be involved if fraud was being perpetrated against Ohio citizens.
Couldn't imagine having to deal with a guy who believes conspiracy THEORIES that he finds out about on youtube lol 2019 the world we live in today where people believe everything they find on the internet.
Is there any way to block Ron Hale so we don't have to see is off the wall posts that don't contribute anything worthwhile to this forum?
There was a time, here on GMS, that BS had to be posted in the opinion discussions area. (Don’t know if there is an opinion section now). If not the discussion was moved or deleted. Some members were banned. Selling services was also frowned upon. It’s a shame that nuts can take over a thread now. Posts are scarce now a days and nuts scare many from posting. The sad thing is, if Ron has a subsidized phone with internet, our tax dollars are paying for him to ruin a good thing. He was missing from GMS for a few years. Could be he spent that time with his eyelids pinned open watching U tube, or he might have been housed somewhere, as he says courtesy of the govt (again our tax dollars). Felons have free internet.....where could he have been? I’m guessing mental facilities don’t have internet access.
I suggest that You folks call Your home offices and ask the legal department to check the status of the 110,000 Sealed Federal Indictments in PACER.
You'll find a large number of Indictments have been opened for Florida and the STORM is moving West.
This is the Storm that Our President is Tracking, not the Hurricane.
Get a good laugh from the Fake News that think Our President is tracking the Hurricane. Fake News is included in the Round Up.
Ohio, WV, and PA will be freed of Corruption soon. This is Good News for Landowners, but not so good for O&G company executives.
If You have ever had someone steal from You, which we have all experienced, imagine being stolen from every month since 2005. That's what US Landowners have had to deal with.
Our loss wasn't Your Gain, Your employers kept it all. Being free of Corruption could cause each of You to get a much needed pay raise for having to violate Your personal code of ethics in order to protect Your employers greed.
LLC Members have been stuffing their bank accounts for Years. I have the procedures they are using, along with 3,000 documents that will put Your taskmasters in prison.
The NSA has all of my emails in the Hammer Super Computer. You can't stop what is about to happen. Corruption will no longer be a way of life in the Oil and Gas Industry.
That my Friends is Conspiracy Fact, brought to You by Q, Our President, Our Military and the NSA.
It is very easy to find fault with someone. Bur what if they are partially correct? Are you willing to swallow your comments that were incorrect?
Think about this fact...…. Life is a process of learning and trying to survive. How many of you are making the wrong choices every day? And none of these lessons ever sink in, until maybe one day you find yourself past the point of no return? Oh you had fun for sure with these poor choices.
I could easily point out some of the poor choices each one makes every day.
Rather then to make fun of someone, it is better to try to understand his or her thoughts!