How can a person know if royalties paid are the correct amount?I know some have retained attorneys to assure fair lease payments but.has anyone gotten an attorney to assure the correct royalties?

Views: 687

Reply to This

Replies to This Discussion

first...know and undertand the terms of your lease regarding your royalties.

next, do the math and verify that your doi number is accurate.

next, check the math on your royalty check stub.

check the price on your checkstub against a historical settlement index for that month. it should be close, but the actual sales price will almost never be exactly the same as any published index. only an audit will verify accuracy to the greatest degree achievable.

when production numbers are published by the state, check you royalty volumes against those numbers. again, there will be discrepencies, but they should be minor.

wj

Thanks.I heard there has been some problems in the past so I will do this when the time comes.

Bob

what problems have you been hearing about?

wj

Nothing specific.Just general comments against the companyI think it was just heresay.Thanks for your input.I was told that early this summer I would  start getting a check and I was curious.

Bob  

yeah, there are lots of comments and hearsay. usually most of it doesnt amount to much.

you should get division orders before checks.

wj

RSS

© 2021   Created by Keith Mauck (Site Publisher).   Powered by

Badges  |  Report an Issue  |  Terms of Service