Replies to This Discussion

Permalink Reply by 0ym9x5ag7ury2 on February 21, 2015 at 5:22am

jnm,

    My Chesapeake Energy Revenue Dept Spreadsheet shows deductions as high as 176% of the Buck Well 1H NGLs. We have a column of Fuel deductions, a column for 3rd Party Deductions, and a 3rd column for Affiliate Gathering/Compression/Treating Deductions.

My royalty statement shows no deductions since I have a Gross Lease, but the figures for the last 12 months tell me that all of our NGLs have been taken free plus we have had our Oil & Natural Gas royalty reduced all to pay for several of CHKs off the books deals, taxes and processing someone else's volume of NGLs.

Most producers would be happy after selling to themselves below market value then paying a royalty on the bogus sale as CHK does each time they sell to CEMarketing Inc but CHK has a need for greed based on the Spreadsheet which tells the true story.

If you live in Ohio, don't count on being paid for NGLs. Buck Well 6H landowners are being told their NGLs are bad which is impossible.

We are going to be stolen blind to keep the CHK's ceo in the money, and those in Columbus who are getting fat paychecks out of this won't be able to hide their new found wealth much longer. Some have already tried to explain where their millions have come from. I didn't know we paid politicians that well.

There is a 115 year tradition of O&G companies stealing from landowners. 

The question is, how long will the rich corporations and politicians be able to avoid prosecution by the Feds for obvious theft?

• ▶ Reply

Permalink Reply by 0ym9x5ag7ury2 on February 21, 2015 at 5:35am

Check out the WV Natrium Plant that is processing large volumes of Ethane being piped in from Scio OH. The Butane, Pentane, Propane, Methane are separated out and sold on the open market after processing in Kensington and Scio OH.

If you live in the country you are paying to fill your propane tank from the NGL stream that was effectively stolen from your well.

NGL products are all very valuable, but only after you are paid a royalty on a below market sale, if there was a sale at all. My bet is my producer hands over the products to their marketing company then pays us a small ration of what we should have made.

Hey, "Its a good business practice to not pay the landowners a royalty then go to court and only pay what the judge orders"  CHK VP 2013 Farm & Dairy article. 

It's not theft, its just Good business. Don't try this tactic on your own or you will end up in prison. Ohio calls this Theft By Deception then A Pattern Of Corruption.

• ▶ Reply

Permalink Reply by jnm on February 21, 2015 at 5:51am

Ron   what are you referring to when you say "Chesapeake Energy Revenue Dept Spreadsheet"?

I get a "revenue check detail" on line for a well within a couple miles of the Buck well and it shows no deductions.

• ▶ Reply