Do friends and relatives view you as a piggy bank now?

Just like we read about lottery winners having to deal with people wanting money. Has anyone experienced that with your new found gas/oil wealth? I'm dealing with that right now. They try to put you on a guilt trip while justifying (in their mind) why they are entitled to some of your "easy money". 

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0ym9x5ag7ury2Permalink Reply by 0ym9x5ag7ury2 on June 9, 2015 at 11:40am

Zack,

    After having several hours to ponder my response to your question, I realized friends and family would never try to bum money off of a McDonald's part time employee.Since they make more money per month than I make from my RATIONED ROYALTIES, no one is interested in sharing in my lack of wealth.

The false sale of Oil and Natural Gas by Chesapeake to themselves, using illegal deductions, and taking the "Very Valuable" Natural Gas Liquids from Buck 1H & 6H for free, doesn't do much to move me up the economic ladder.

BIG UPDATE: Buck Well 1H just made $16 per acre (rounding up to the nearest dollar) this month.

For those landowners who are being stolen from and remain silent:  There is no shame in being stolen from by a corporation who has fooled the Shale Play state and Local governments into thinking they are ethical and deserve to have their way with each states landowners.

There is shame in remaining quiet to protect the possibility that you might someday be paid a fair royalty by your producer. That will never happen if your secret isn't shared with your friends, relatives, neighbors, fellow citizens, state & federal government officials, and the White House.

O&G companies have stolen from landowners throughout history due to landowners standing alone in fear. I've heard it from the previous generation, "You can't stop the O&G theft".

Let's prove them wrong!

Permalink Reply by rj rob on June 14, 2015 at 9:39am

I grew up more or less without money (poor as a matter of fact) & watched as other family members lived good lives. I worked through college, struggled to buy a house & get married.  Worked three jobs at a time & saved my money. Bought some hunting property as a dream come true. Paid taxes, insurance, & kept up  the property for 20 years. All of a sudden I have some blessings come my way by means of NG. And what happens....Jealous, greedy family & a few friends turn on ya because  now i have some money! They feel I should share my wealth. I'm sick of ignorant comments & a few talking about me like I'm a thief. And the sad part is, I never once brag or even mention the subject, I avoid it at all together. To me my finances are MY business, but its amazing how envy for money will make certain folks angry at you.  I agree with others, quietly distance myself from those family & friends. Don't lose any sleep over it anymore, and look at these people with a smile. It eats right into them even more. Have a Good Day Everyone!

Permalink Reply by Zack Jameson on June 14, 2015 at 4:43pm

Words well spoken. I agree with you totally.

Permalink Reply by Trapper on June 14, 2015 at 6:10pm
Human nature is a fickle thing. In my experience,most people aren't worth knowing and if you go through life with ONE true friend you are lucky. True that you can't choose family,but you can choose not to associate with them!
Permalink Reply by paleface on June 14, 2015 at 7:12pm

 Money is thicker than blood.

Permalink Reply by Booger on June 15, 2015 at 1:48pm

not in my bloodline

Permalink Reply by Zack Jameson on June 14, 2015 at 8:45pm

Trapper.....you speak with much wisdom. I agree with you also....totally

Permalink Reply by Trapper on June 14, 2015 at 9:00pm
Just something I learned in my 55 year journey! Lol.
Permalink Reply by Cary Miller on June 16, 2015 at 2:06pm

We just have undrilled but leased mineral rights.   I can count on one hand the people, aside from family, who know about this.   I try not to tell anyone because they will either give you a lecture on fracking and think you are an environmental terrorist, or think it's great and wonder when their check is coming.    And the way it is going now, we may never see a dime from this acreage in the middle of Mississippi.  But if we did ever realize a bit of money, I would probably just say our new-found financial security is from an inheritance, which at the core it is.   Somehow my grandfather kept up the taxes on the land from his hard-earned legal fees back in the 1930's.   I figure his foresight and hard work earned this for my family.   God bless him!  And if my family ever gets a substantial amount from this natural resource, we plan to put a substantial amount back into the community which is in one of the poorest counties in the nation.

Permalink Reply by rj rob on June 16, 2015 at 3:13pm

Same thoughts Cary. Hope you someday are blessed with royalties. Keeping land in one family for many years is hard, but commendable. Lots of young generation family would of sold the land, spent the money, & never once been grateful for it or give back to their community! You are a very wise person!

Permalink Reply by Nancy LeNau on June 16, 2015 at 10:29pm

Cary, God Bless you and Your Grandfather !   Your community are Blessed to have you and your family !   Best of luck to you in your future !  

Permalink Reply by kh on June 18, 2015 at 12:07pm

A gas well near our family farm is in the drilling process right now. No unit even declared yet. My husbands 5 adult sisters all who are married. They either have moved away and come back to build a house on free land. Moved off the farm entirely. Built a house on the farm and then moved away. And other scenarios of non participation.  They feel entitled to an equal share of any potential gas royalty. 3 of them actually live on the farm now and legally own their mineral rights with land that was given to them. 2 will have land and rights left to them when the mother passes. But they are disgruntled that it is not an equal share when it comes to the money. They weren't happy with the unequal division of land in the first place but that's another whole ugly story. They look at gas royalties as a lottery ticket that no one did anything to gain and just because they grew up on the farm they should get their equal share now. My husband and I have legally owned, taken care of and paid taxes on our portion of the land for 20 years. (just under half of the total acreage) He has lived on the farm all his life and never left. We have built a business on the farm over the past 30 years. And taken care of the whole property whenever needed since his fathers death 30 years ago.  They are trying to guilt us into pooling any royalty money and splitting it 6 ways. Saying it is the right thing to do. If we don't do it we are the greedy ones in their minds. They say...how will we attend family functions knowing we have so much and they don't. I guess its more greedy to want to keep whats yours than to want to take what someone else has. It is a very frustrating and sad situation. My heart goes out to anyone that is going through this. What seemed to be such a blessing has turned out to be utter heartache.

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