There has been a sustantial difference in gas prices with what Stat oil is paying than the others(Cpk, Mitsui and Anadarko). Stat last paystub was $1.00 less than the others and this recently rec'd check was$1.35 difference than Cpk. I have called numerous times with messages being left and the never return my calls. Is anyone else having this problem and are there any suggestions on how to handle this. I have a Friendsville lease and feel they are cooking the numbers to recoup all they can. Any input will be greatly appreciated.
IINVICTUS, Where do you live?.
These particular interests are in eastern Ohio, right in the heart of the Utica, In the "Core of the Core". You may have guessed who my "new partner" (i.e. O/G Developer) is.
Not trying being coy but this is a rather well-watched sight....by many with a variety of interests and agendas.
I'll state mine plainly, for the record: Landowner/Leaseholder with a rather well-written lease.
Need info and more importantly, perspective.
invictus; good questions. I live where very little drilling has occurred so I know little about royalty issues like these. A couple of suggestions;
Contact everyone in the drilling unit and work together. They may know the proper procedures and a company that does such audits. Also, try to get everyone to pitch in and share in the cost. If the cost is $1000 and the unit is 500 acres, every could pitch in $2 for every acre they have in the unit.
Also, go to the sister websites of GMS where gas production is more mature like the Haynesville or Barnett and ask there. I am sure other people have faced the same issues.
Good luck and start a new discussion to share with us what you learn.
I do appreciate your insight and thank you for it!
I'm now attempting to reciprocate the courtesies where possible.
I have watched this site for sometime and have decided to jump in participate.
It's nice to be helped and the ability to help others where goodwill
reins is, in my view, always in style.
This is a public arena, and, frankly, many who are farther along in this process wish to be cautious about their very personal affairs while trying to help other landowners/leaseholders with a bit of serious, actionable detail.
An example is the "loot" we all are expecting to see. When is my check coming or how much will it be?
I would posit that, while money is very important, the Terms & Conditions that folks sign for and the ability to ENFORCE the contractual language should things get "squirrelly" with our new found partners (O/G) are of even greater value, IMHO.
As perspective, we are way past the drilling unit stage and are due to go into production shortly. Hence, the questions I put forth regarding royalty payment integrity.
I will tell the readers that there are NOT A FEW Leaseholders who are having serious issues with the pipeline people.
I'm not kidding on this.
Legal issues have/are arising that go beyond simple civil questions, or questions of mere hard bargaining.
If you check my participation in this site you may get a sense some issue that many landowners are facing, but few are afraid to speak out on concerning these pipeline issues.
Anyway, that's where I'm at this point in the process.
Still learning and amazed at what I'm seeing!
and who knew that when one should have, jim? i have learned a lot.....after the fact. that's what makes me sad/mad. most of us TRIED to do this right. it's just so darned hard to keep ahead of zillions of lawyers and their 'legalize'.
I have a no deduction lease and am seeing the same prices,except that Mitsui paid $2.82 for Oct production.
My lease says they have to pay according to the following: 'The midpoint price of Platt's gas daily published index...TGP zone 4 line 300 Appalachia.' My question is: are they? I don't know how to find out what that price is. Can anyone help? Thanks.
Not sure of this, but I believe that Platt's is a paid subscription (now) online publication. See http://www.platts.com/products/gas-daily, It appears to be about $3,000/year for the gas price reporting publication. Perhaps someone knows of a more realistic resource.
I really do like seeing Marcellus people and Utica people working together like this. It's a good example why a Marcellus member stating he doesn't care a thing about the Utica shale members is taking a very narrow view of matters. When I return from work today, I'll post a more thrifty alternative for keeping track of the pipeline prices in your particular areas.
1) Go to this link http://www.naturalgasintel.com/
2) Float Cursor over arrow next to "Data"
3) Select "Daily Price Snapshot" from Dropdown Menu
4) Select a Region (Northeast) & Wait Briefly
5) Click on the arrow next to "Location" for a Dropdown Menu
6) Select a Location, such as "Tennessee Zone 4 Marcellus" and wait briefly. A graph will appear showing you pricing info for the past few months. If you look down further on the page, many times a description will tell you from which specific areas these prices are derived. To the left of the graph is a button for "Data Login" where those who become subscribers may be able to access even more specific pricing details.
As a promoter of even handed treatment for both landowners and producers alike, it's my pleasure, Matthew
i like your philosophy, but i see no 'even-handed treatment' between o/g and we the people. david and goliath were better matched. you do have the right idea, charles......if only.....