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
Like experience here when I inquired. We have a KWGD lease. I certainly hope she/they are true to their word. I will give them accolades for publishing the true product sell prices and then identifying deductions taken. CHK's strategy was/is to significantly discount the product pricing and not list any deductions on the statements.
Funding Canadian socialism?
ENCINO is Houston based, Encana is Canadian
I prefer Encino's transparency myself, as it relates to a potential legal challenges for violation of the lease agreement language.
We also have a gross lease and our first Encino check had the same deductions. I called Encino HQ in Houston on Monday and left a voicemail for the COO, Ray Walker, informing him that Breach of Contract was no way to start off a successful relationship. Within the hour I received a phone call from Betty Hammer, in the Land Administration Department. Betty was very nice, very apologetic, had reviewed our lease and said that they were working to correct the erroneous deduction situation as soon as possible. She said that the Owner Relations Department was misinformed and should not be telling owners that the deductions were intentional and would be going forward indefinitely. I suggest that you call Encino directly at 281.254.7070
Also, If you are one of the wells that TEP USA owns a piece of , good luck. They are seem to be taking very large deductions. And the check detail for direct deposit is not available. And we have not found any contact for the company, anywhere. The one number Encino gave me was for the wrong company. Encino operates the wells and cuts the checks. They say they do not have the details, but they are on the printed paper checks, so that is a lie. I would like to know how I am getting paid for that part of the production.
Apparently Encino had zero help from Chesapeake getting all this set up. So they are working from scratch and building all new. How true, I do not know, but that is what I was told.
Total USA - https://us.total.com/home/media-us
1201 Louisiana Street
Houston, Texas 77002
I thought TOTAL sold their 25% interest to Encino at the same time Chesapeake sold their interests.