When will the edge pad be put into production?
Division orders came yesterday , 4-15-16 , I'm in 5 units , legs ,whatever , in production 2-12-16 , according to the paper work , didn't give me how many acres involved ?
I asked for a Division Order from Chesapeake last month and they sent me an incomplete Division Order. I called Chesapeake and they said the Formal Division Orders weren't ready, so I told them I would wait for the Official DO.
Last week that Official DO arrived and it has the following Columns: Net Acres, Lease Royalty Rate, and Unit Interest, plus the total acres that make up the unit listed as "Unit Gross Acres" should also appear on the DO.
If you are missing any one of these facts, then you can't verify your Unit Interest, or what I call your Ownership Decimal Fraction.
The purpose of the DO is to allow you to verify the Ownership Decimal Fraction so you will know what you should be paid from the total well monthly production value.
Call your producer and demand (politely of course) an Official DO with all of the above columns of information.
By the way, that number you come up with, 0.0007 for instance will more than likely rarely appear as that value on your royalty statement if you are leased to Chesapeake. Giving you a set amount of money each month regardless of well production for example the $15 I was receiving, is almost impossible without jockeying your ownership number.
Remember, all of those Office workers are only trying to earn a living. It's their Executive Leadership Team & ceo who implement the theft that shows up on your Royalty Statements.
Chesapeake is not involved with Edge. Gulfport and Rice are.
Where are all the rich people from the Pugh Ridge wells ? I'm hearing these wells are chocked off so much , that they are spitting out penny's instead of $$$$ ?
Until oil & natural gas prices go up, you should probably expect them to continue to choke those wells. If you were sitting on the reserve that is in those wells, would you produce it full bore right now to give it away at today's prices?
No I would not , but makes me wish at my age , I should have sold the rights and took the money and ran a couple of years ago when I was offered a lot of $$$ and I do mean a lot . lol
That's a decision each individual mineral owner has to make for themselves after long and careful evaluation of their specific situation. At this point, I'd personally never sell my rights but I'm not yet 50, I'm healthy, and financially stable. All of those things are subject to change at any time. Hopefully for me, this investment will last long enough to benefit my kids one day.
Who are you leased with, Rice or Gulfport?
Have you called either of them to ask for an explanation?
I've heard lepley has been paying , not much better than the rest though , but I haven't seen any details ? I'm in Winesburg and edge , didn't get anything for winesburg , awaiting the $$$ from edge , don't have much hope for this time frame ? Lots of things against us , election coming on and the low prices ???