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
I like to verify information before I share it as a 'fact'...if that makes me a smart A__, then you are right. Rather be a smart A__ than a Dumb A__. Regurgitating stuff without verifying can be dangerous, you could say it could even make you look silly.
As far as LLC members stuffing their pockets, isn't the concept behind a business is to make money, aka cash flow. SO what are they supposed to do with the cash they generate, I'm a bit confused as to why there is such outrage over a company that invests billions of dollars of making a return on investment. Now if they are taking money not entitled to them, then sure, that's wrong. But what about the money they are entitled to under the terms of the legal contract that you executed. Should they not be allowed to utilize those funds on behalf of their investors - which include many small shareholders, many US based pension funds, insurance funds, etc.
Until tomorrow's installment of Ron's world...whatever it maybe
The Q mystery solved.
“"Q" is the Federation designation for an impudent, self-superior and sometimes malevolent being from the otherwise mysterious Q Continuum. Beginning in 2364, the alien literally began to pop up in Federation space to tease, torment, and try Starfleet officers — especially Captain Jean-Luc Picard of the U.S.S. Enterprise. From the reports and eyewitness accounts it is not certain that the remainder of his kind share his outlook. It should always be stressed that Q's apparent juvenile humor should never be mistaken for the amoral, unconscionable acts of which he is capable.‘
When Chesapeake, now Encino needs to reduce a Landowners "Take Home" Royalty, they change the Ownership Number of those Landowners.
What in this formula that produces a Landowners Ownership Number can be varied:
Landowner Acres divided by Unit Acres multiplied by Lease Royalty
Ownership Number = Your Acres/Unit Acres x Lease Royalty.
Here are some ownership numbers for me from the most recent Encino Fraud Statement:
0.0000079 0.000017 0.000226 0.000017 and on and on it goes.
Maybe I looked to closely at my Fraud Statement, Farmers aren't supposed to know these things.
Check out the number of Zeros. Even with only 0.5 acres in a Unit my ownership number should be 0.0002 but never 0.0000079.
The deductions from ALOV, SURE, and KWD leases which are 15 pages of Landowner Protections, with very clear statements of No Deductions, Gross Royalty, Arms Length sales even if sold to an affiliate, repeated over and over, is FRAUD by those who take deductions.
We once again have the following State and Federal Laws being violated: USPS Mail Fraud, Conversion, Theft By Deception, Ohio RICO Fraud, and more. This will all be covered using the word CORRUPTION per the 12/21/17 Executive Order that includes Corruption as one Crime that will no longer be tolerated in OUR NATION.
What is being done by Encino as when Chesapeake was conducting the Fraud, they decide how much to give a Landowner, then manipulate the numbers to arrive at that amount.
To repeat myself, "The Only Printed Information on Your Royalty Statement that isn't FRAUD is Your Name".
Encino Corrupt, Enjoy the free flight to GITMO or other Military Facility, Free Room and board for the rest of Your natural lives if lucky.
Those convicted of Treason, You won't waste away in a small cell.
The time for talking is over.
US Landowners have been abused longer than they should have been by US Domestic O&G companies who have had their way with us.
Those who have gone to court or arbitration have not seen justice.
Those who could have used Laws to stop the extreme theft in progress lost their way $$$.
Those in the O&G Industry or State governments who want to talk you are too late.
The Storm Approaches, complements of Our President Trump, Our Military and the NSA. No one can stop what is coming.
The Executive Orders that apply have been placed on this website.
Those who are corrupt are known by the NSA and will be taken care of.
We The People have taken what you have dished out, now we will see how you like being on the receiving end of justice.
Deal with it.
For the people following this thread, let not your heart be troubled. Landowner groups are being formed, serious law firms are drawing up lawsuits. This isn't over, it's just starting. Stay tuned.
Cynthia Cook, THANK YOU for the phone number for Encino, 281.254.7070. I just called, and they took notes and will be reviewing my lease sooner rather than later because I called to complain, calmly, of course. I told the rep that it's a good thing we're not actually making that much right now (just 2/3 of an acre in a unit), or I'd actually be quite angry. THE REP INDICATED THAT ENCINO IS SEEING, UPON THEIR REVIEW OF THE BOOKS, THAT CHESAPEAKE WAS LISTING A LOWER SALE PRICE FOR THE GAS AS A WAY TO TAKE DEDUCTIONS FROM MINERAL RIGHTS OWNERS SO THE OWNERS WOULDN'T KNOW! I'm paraphrasing, so don't quote me. Encino would politely call this a discrepancy of Chesapeake's part, but it's obvious they're taking this chance to bust CHK so owners won't be quite so frustrated with Encino while Encino reviews the leases and removes deductions that should not be taken and reimburses us for deductions erroneously taken by them. I asked for interest on the money, too. CHK never ceases to amaze me. If we want our money back from CHK, we'd have to sue and find a way to prove they weren't actually paid less than they claimed for the past decade.
It took many weeks of phone calls directly to James Lebeck, Encino's Chief Legal Officer, to get reimbursed for the amounts they wrongfully withheld from our royalty checks and that was AFTER they conceded that our lease was a gross lease and not a net one. We are in discussions with a Houston firm who conducts oil and gas royalty audits. Under Ohio law they can go back 4 years. One thing the audit firm pointed out was that it looks like Encino is only paying for around 20 days a month instead of 30 or 31. I am afraid that they are all crooks -- from CHK to Encino.
As soon as Encino took over, our royalty checks started dropping. The last check was about a tenth of the average we were getting from Chesapeake. WTF is going on? I understand the price of natural gas is low and apparently Encino is taking out more deductions, but something just doesn't seem right, our royalty checks are down to practically nothing! Is it worth it to call them? It sound like their service rep's are just spouting bs.