My Royalties are huge.
Bought a real New SUV not a New To Me SUV.
Replaced my older farm equipment with New farm equipment I don't have to work on before using.
Had enough to help pay my Relatives Health Care so they could Retire (thanks Barak for the New Burden we are carrying, called Unregulated Health Care).
Gave huge sums to the local county Animal Shelters to stop Euthanizing the animals before they can find a home.
Gave money to the Veterans Funds, Local Churches, helped out my friends that are living off of very little in Social Security.
The above is actually What Might Have Been if Chesapeake Energy hadn't leased my property then been permitted by the State to take it all and pay only what they want. I won't mention under reporting volumes of Oil being taken.
This is what will happen when the our society realizes you can no longer steal from landowners and keep the story quiet as was done in WV's Kanawha County in the 60s and countless other places that only the local landowners know about since the story was squelched by the press and elected officials back then. As long as everyone at the top makes good money who cares about the Landowners? I do.
What the public doesn't realize is Chesapeake is running the biggest Natural Gas CARTEL in the world!! Don't try to rationalize their actions, this is a totally criminal enterprise, and it must be treated as such. Hopefully, some of the Senators in Pennsylvania realize this, then maybe they will try to do the right thing by landowners before they are included and recognized as part of the CARTEL by their constituents, and the public.
fyi, I was getting over $1500.00 an acre in royalties per month, now I usually get no check even though there is a good of amount of production. If I get a check now and then it is usually in the $100 range for all my acres. TOTAL $100 dollars from $1500 an acre. I don't think anyone would think any enterprise could so blatantly steal like this. But hey, we are talking about Chesapeake, Mitsui, Anadarko. Statoil, and Chief. The leader, and the followers. Chesapeake lead, and the followers took several months to follow the leader. But they seem to be alright with it now. Thanks to Pennsylvania lawmakers, and elected officials.
WOW, someone who sees the Truth and Speaks Out!
Here's the Spreadsheet of Theft from Chesapeake's own Revenue Department to use as Evidence of what you are saying. The PA Attorney General's office has a copy by way of the PA NARO Representative.
Ohio's NARO Rep (if he is still doing that job) is 4% owner of whatever Chesapeake steals from us, but I'm positive he will also be short changed. You can never trust a thief to pay you fairly.
You may have heard that Chesapeake is reporting small quantities of Oil being taken from our wells in Ohio, such as 35 barrels and less in a one month period, using 10 tankers to pick the oil up during the month.
The Tanker Truck Drivers said they aren't allowed to go on to a Pad in Ohio without having 200 barrels ready to pick up. So I get a bogus below fair market value on less than 100 barrels of oil, when more than 2000 barrels were taken.
This is showing up as a glut at the end of the line that no one can figure out where the oil is coming from. If Chesapeake is involved, it's obvious where the blame belongs.
"It's a good business practice to not pay landowner royalties, then go to court and only pay what the judge orders". CHK NE VP quoted in the papers.
Ron and RB thank God other people and not just me are starting (after years of theft) to see it. I hope some officials take action. Actually, many of their VP's and CEO of Chesapeake should be put in jail if we got true justice. Also, did anyone notice how blatant and recognizable the problem got when Carl Icahn bought into the company, and got a seat on the Board of Directors?
I just wanted to mention that I have a 20% royalty. Imagine if I had a 12 1/2% royalty what my checks or my non-payment months would be. Probably no payments for many, many more months.
Ha Ha,lol. You would probably owe them money!
bo, I know. Most people don't realize how bad it really is. What I don't understand is why aren't people marching in the streets. Instead they are acting like little lambs going to slaughter.
Would it be wiser to put the money in the hands of the rightful owners of the well products, or have the money paid to a corporation in Oklahoma?
Only a few Landowners would leave the state for "Retirement Land", and most would stay in the area where the money was produced from. Not all rich people are greedy, some become Philanthropists and spend their time helping others, and most landowners would have excess money to donate to worthy causes like our Animal Friends in the Shelters. Paying landowners fairly is the only way to ensure a Brighter Future for each Shale Play State. The current situation puts us on the path to a dark future for obvious reasons.
Paying landowners the royalty per their leases without huge deductions for real and imaginary expenses which are required by Ohio law to be paid by the producer, should be the goal of all US Citizen aware of this problem.
88% isn't a bad take for doing all the work, but 98 to100% is Obscene, Illegal, Immoral, Unethical and should no longer be permitted by our society.
Ron, Thank you for mentioning Philanthropists helping others ! I especially Love the part.... of helping shelters animals ! Such a kind Heart you have..... God Bless you..... $$$ can be a Godsend or Evil....It All depends on what is in a Persons Heart. Hopefully, Goodness Prevails.
RB..... Count me IN !