Unlike the cowards on here. who are worthless and good for nothing.
well my first check i got like $785 . my second check for jan is doubke that about $1600/acre. i have no idead what im looking at but it for NG gas only. wow cant imagine if oil was worth anything too. i have to say im pleasantly surprised. I was surprised with the $785 this month i was like wow. shit i got friends with 100 acres. they must be rolling in it. yet there house stlll looks like from the 70's
Congratulations! make sure to save some to pay property taxes on the eventual increase in assessment. Might not be big increases.
what the heck.its miles underground .what that have to do with property value?
In West Virginia, there is a tax on oil gas and mineral rights. If you own the surface also, it is figured in. When a well is produced and the royalty is being paid, the well operator reports this amount to the state property tax department who reports it to the county assessor who adjusts the value of that property and then eventually the tax is increased. Some states don't tax like this. All I know is WV. Anyway, glad for you that you are getting some money from your well. It is a good thing!
Phew.... im in Eastern By God Ohio!
A great State! both my parents are from there. One from Eastern Ohio!
Congratulations! Taxes or not put some money back and save when you can.
hello. hilltop, I believe im only getting paid for natural gas. Ill post the actual slip tonight. all the sales were in sept.both the checks i got were for September.
Don't know about the survey, but with more accurate technology nowadays, I wouldn't be surprised if their calculation of acreage was off a bit from what your deed says, it is on my lease/statement vs deed. Also, maybe, your parcel isn't 100% inside the unit; maybe a corner or such is outside the unit boundary and therefore they're paying for a little less than your full parcel? You'd have to look at a detailed unit map to know that. You should probably have gotten that with the application for unitization paperwork that the driller filed with the state before drilling began, assuming you were provided a copy.
As for the statement, that looks like 2 months to me (Sept. Oct) but I could be wrong. They don't make these statements very user-friendly it appears, mine has the same info but it is laid out differently, and still confusing. If that is for 1.3 acres as you say, and presuming 2 months production; that net $1,572.43 check translates to $604.78 acre/month (correct me if I'm wrong). Looks like you got a little better price on the gas than I did, $1.94 & $2.25. Hopefully we'll all see that go up through the winter month statements.