The first assignment made to Statoil was probably for 33% interest in your lease. I suspect, the second assignment was for 33% of Chesapeakes remaining interest in your lease. Regardless, Chesapeake probably remains the "operator" of you lease and you will receive your royalty checks from them.
Hope this helps........
Try this explanation: Take some royalty checks. . .let's say a few million dollars worth. Now invest them in an interest bearing account. Six months later cash in. Keep (steal?) the interest payment and give the sucker....make that leaseholder.... the principal.
You pocket his earnings and he's happy to get a check.
Seems simple enough to me.
ya, that sounds about right
(any ideas on how I might get my interest? )
I've thought about it. It worries me though, that they've got their hand on the spiggot... they could shut the well in, or cut back the flow on a whim...
Class action would be the way to go. Any attorneys out there willing to initiate this?
For the person worried about them turning off the spigot for spite:
Imagine a multi-billion dollar corporation turning the spigot off on a multi-million dollar investment? I can't.
deci, you're in the same situation as us.
chk and anadarko split the unit, roughly 50/50. Then, stat gets roughly a third of chesapeake's half.
You'll probably be getting three checks, first you'll get chesapeake's, then, later in the month the other two. As a very rough rule of thumb, you can expect a total for the month of about 3 times what the chesapeake check is.
ps. I'm assuming all the proportions are the same from one unit to the next...I'm not certain that's true but i think it is close.
Also, our unit didn't get declared at the couthouse (and we didn't start getting paid) until about six months after production commenced.