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Permalink Reply by Rene Oldham on February 17, 2015 at 10:40am

Hi Chuck. How have you found Statoil to work with? We hear our lease may be acquired by them and just curious about their reputation with land owners.

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Permalink Reply by Chuck McCoy on February 19, 2015 at 5:32pm

hi...they have had interest in my lease for a couple years....I had a division order question in 2014...after an email went unanswered I called them....it took about 3 weeks to get a return call..,,we then traded phone calls...my question did get answered via my jan 2015 royality statement so I never actually talked to any one directly...... chesapeake's 1099 documents  YTD gross royalities, taxes and other deductions withheld...their monthly statements give you MTD totals re the same 3 items and MTD net royalities ...to date Stat's 1099 only has the gross royality for the year...their monthly statement  only has MTD totals for net owner value for the month...I have to go through the statement well by well to calculate MTD totals for gross royalities, taxes and deductions....chuck 

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Permalink Reply by Mike Ratcliffe on February 17, 2015 at 10:07pm

Who knows! 

I live in WV and Chesapeake, who owns 66%, has been taking out 4.6% "Production Tax". It is on the back of my 1099, but not listed in any of the boxes on the front.

Stat Oil, who owns 33%, takes out 5.5% Tax, but does not show it anywhere on my 1099

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Permalink Reply by Chuck McCoy on February 19, 2015 at 5:07pm

thanks  i see the info on the back of the chesapeake 1099...I've called Stat....1st call ended up at a full voice mail box...2nd call did get voice mail so I left them my info,,,in the past it has taken weeks to get a return call from them so we''ll see...I may have to go through each monthly statement well by well to get the YTD totals   chuck 

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