Royalty Utica Hubbard H3 well in in Brook County

Just wanted to let everyone know that that Utica Hubbard H3 well in in Brook county is paying $ 65.00 dollar royalty on 11 acres of land  and that is at the well head with no deductions and 18 %. I think we are we are being shafted.  Southwest will not return my calls to answer question on my statements and they appear to be no better than CHP was. Is there anyone how can help get some answers as to what is going on with this well? Any help would be appreciated.   Buy the way.   Yesterday I was offered 60 k for my royalties and the guy knows what it is producing !  What's up with that!!!

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Permalink Reply by Ronald Raymond Burda on June 12, 2015 at 1:44am

The production is obvious very little and that is the point. Why was it so little and that any offer was made at all. Would you buy something that was worthless?  I love how you referred to the O&GM owner as the " mark." Is that how we are looked at Paul?

Permalink Reply by Joseph-Ohio on June 12, 2015 at 2:07am
Very pointed question and right on target RRB.

Addressed to a Gas Professional.

My compliments.

J-O
Permalink Reply by Kyle Nuttall on June 12, 2015 at 4:06am

60K for 11 net mineral acres isn't a bad offer, but it's certainly not worth selling unless you've really need the cash now.  

The $65/month will probably go up as they develop more wells on your unit.  I'm assuming that it's just the one well right now.  The unit will share the royalties of every well put on the unit.  That's one reason I try to get o/g companies to promise to fully develop the unit once they get started.  That's a really hard promise to extract from them, though.  They always say they don't want to be tied down to any particular drilling schedule.

You got good royalties and no deductions, though.  Very nice.  That should pay off in the future.

How many Mcf/day is the well producing?

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