We are having problems with Stat Oil.

1.  We have 2 wells (on the same pad), which they own an interest in the Town of Franklin. The wells have been in production since Oct. 2014.  I have been in contact with them every month since Dec. 2014. They finally assured us we would receive payment in May.  When May came around,the first check came but only included one well.  I called and they said they made a mistake and did not process the other well and payment would be included in the June check.  When I called them about item 2 (see following) they said they only have one of the wells set up and will pay us when they are ready. They were very arrogant.  Our lease stipulates they must pay us withing 30 days of selling any gas. They should have paid us in November, December at the latest. As I said, they acknowledged having all the paperwork they needed (that was in April, when they said we would be pain in May).

2.  Second Problem with StatOil. They are selling their gas for way below market prices. In March they sold it for $1.14 and Feb. for $1.05  That is 1/2 to 1/3 of what the other companies are selling it for, and less than half the market price.  I asked them to explain, the person said that is what they sell it for.  It makes me wonder, I have heard some companies are really shell companies for Chesapeake. They sell the gas back to Chesapeake for 1/2, so the owners get lower royalties.  Is that the case with StatOil?  It des not make any business sense for them to sell the gas for such a low price.