Payments from Hilcorp/Western Land Services?

Hello friends,

I signed with WLS back at the beginning of September (land is in Poland, Mahoning county).  I'm just curious how long it's actually been taking for people to receive their bonuses.  I spoke to someone from WLS at the end of November who told me that everything was clear on my property and that I was ready to go. 

My 90 days is already up, and I was wondering if it would end up being more like 120 days. 

Thanks for any input you can share.

Erin

Views: 1445

▶ Reply to This

Replies to This Discussion

Permalink Reply by Samuel J. Orr on December 18, 2012 at 4:28pm

My understanding of the 90 days is that neither Saturdays or Sundays are included. Thus in each 7 day week, there are 5 business days. 90 business days divided by 5 business days per week yields 18 weeks. The total number of days including Saturdays and Sundays is 7 X 18 or126 days total.   Although many businesses are open on Saurdays, banks generally are not, and the 90 business days becomes 90 banking days. A holiday here or there  could extend it a few days more.

Permalink Reply by Erin N on December 19, 2012 at 3:01am

Thank you both for taking the time to reply!  The information is greatly appreciated.  Including holidays, my 90 banking days brings me to mid-January.  Maybe I will get lucky and get a Christmas present??
Thanks again.

Permalink Reply by Erin N on December 19, 2012 at 9:29am

Just an FYI for anyone else who wants to know...it is 90 banking days.  I got a call back from WLS today, and she confirmed that.  She said that my file would be sent for final review today, and then should be sent for payment by the end of next week.  She estimates I'd be paid shortly after the first of the year.

Permalink Reply by darren elder on December 19, 2012 at 2:12pm

i signed with them,  they paid me on the 89th day.  but around the 40 th day  i check with our court house and it was recorded on the deed, so i knew the money was coming

Permalink Reply by Lance Nimmo on December 20, 2012 at 4:08am

HilCorp=You're golden

Permalink Reply by Erin N on December 27, 2012 at 8:22am

I just wanted to post an update to let everyone know that I received my check yesterday!  It was postmarked Dec 21, two days after the person at WLS sent it for final review.
Thanks to everyone for offering insight and info!

Permalink Reply by Elnathan Cory on December 27, 2012 at 4:43pm

I am very happy to hear once again that Hilcorp is golden! Congrats Erin and thanks for keeping us posted!

Permalink Reply by Samuel J. Orr on December 27, 2012 at 5:17pm

Erin: Glad you got paid. The even better news is that your taxes may be lower by your being paid in 2012. Of course that depends on how many acres you have. In any case I am happy for your good fortune.

Permalink Reply by Erin N on December 28, 2012 at 2:47am

Thanks, everyone!  I've had no problems with WLS/Hilcorp, and I wanted to share the info for others who may be wondering how long it's been taking for the bonuses to arrive.  The snow storm actually was to my benefit...my employer sent us home early, and the mail person rang my bell not long after I got home, which saved me a trip to the post office to sign for and pick up the certified mail. 

I do not know if they have plans to put a well anywhere near me, so I'm not sure if I'll end up getting any royalty payments any time in the near future (or ever).  I'm not sure how I will know if I should be receiving them if the time does come.  I will have to figure that out.  There are some very large parcels of land just across the street, so it's possible that they may drill on those lands and I'd maybe get royalties from that.  I was told that there is a minimum parcel size for wells (I think it was 30 acres?), so there will not be a well on my property. 

Samuel, I am very glad to have received the monies in 2012 for my own tax reasons, but I was not aware that receiving in 2012 may result in less taxes.  That is good news!!  I have about five acres.

RSS

© 2024   Created by Keith Mauck (Site Publisher).   Powered by

Badges  |  Report an Issue  |  Terms of Service