Replies to This Discussion

Permalink Reply by Jeff Kerr on July 16, 2015 at 8:52am

Add Rice to the 48 % deductions they said they only got 1,11 for april gas  WHAT A JOKE 

Permalink Reply by Kevin on July 17, 2015 at 4:07am

I think it may be contagious. Southwestern's deductions were always around 10%.  Last month 37% and sold gas for $1.24

 

 

Permalink Reply by Bob Fuhrman on July 17, 2015 at 9:45am

It's not that the deduct amounts have changed. They are fairly stable but in comparison......by percentage, it appears a bigger chunk is being stole from us.

When in reality they're stealing roughly the same amount as always.

Now isn't that reassuring? :(

Permalink Reply by Jeff Kerr on July 18, 2015 at 7:01am

% do not lie there taking more off the top .30% to 48%  its plain stealing from us all

Permalink Reply by Bob Fuhrman on July 18, 2015 at 12:05pm

Yes, of course, the percentages are higher.

It will always be that when the gross drops....whether for market price or not, the deductions do not drop equally.

The "actual amounts" of deductions "HAVE NOT" increased in my case, but when doing percentiles it sure makes it look that way because lower gross figures equate to more of an imbalance --- percentage wise.

Permalink Reply by Robin Smith-lutz on July 18, 2015 at 9:05am

we are all being robbed blind.  On a 2H royalty we received less than $300 between 4 different companies in July.  It is sickening.  I did not even sign with anyone but CHK nor did I give any permission for them to include other thieves.  It is all okay with government as long as they get to tax it all.

Permalink Reply by Jeff Kerr on July 18, 2015 at 11:37am

YOU ARE RIGHT PA not a land owner friendly state  PA GOV. ARE IN THE POCKETS OF THE GAS AND OIL CO.  Vote them out 

Permalink Reply by Matt Lanctot on September 21, 2016 at 8:04am

I purchase oil and gas mineral rights for a living, and I've seen much worse - upwards of 75% deductions.  I won't name companies but they are all about even keel here in Washington County. That's one of the reasons my job exists, as people just aren't satisfied and totally disillusioned with the BS.  

I took some pretty big hits the first couple of years investing in wells, just for this reason!

Now, I read one of the replies and they said they said deductions are being withheld even WITH a gross lease?  Was there a Market Enhancement clause?  You have to look out for those and a word their attorneys love to use, "however", then they go on to list the deductions.  

As you do, I hope this changes with the Oil and Gas upswing.  Fingers crossed for that!

Matt

Permalink Reply by 0ym9x5ag7ury2 on September 21, 2016 at 5:37pm

Wait til your producer tells you that you were overpaid. If they watch Chesapeake they will try the same fraud on you, that Chesapeake has been selling for the past year to Carroll County Landowners.

I was told by one farmer that important people in the County are watching their riches grow. It's sad to think that any elected official would take money from a company that cheats those who elected them.

It's easy to side with home town folks when the thief is an Out Of Towner. That makes this theft even harder to understand.

Permalink Reply by Matt Lanctot on September 22, 2016 at 3:15am

Yikes.  These "riches" that the important people are getting will hopefully come out in the wash.  If they deduct less for one person than another,  that is absolute BS, and downright fraudulent, in my opinion. 

In many cases their land is used, their roads are packed with trucks speeding by, there's noise pollution, and all the nice things the come with drilling, and they're STILL working over the landowners with unfair deductions. 

What do you suggest people do in order to cure this?  Is there a particular law firm or landowners association that's helping these folks.  I have plenty of clients who could benefit from that. 

Matt

Permalink Reply by Kevin on September 23, 2016 at 1:14pm

I know one guy that has an ironclad, no deductions of any kind, lease with Chesapeake. They tried twice to take out deductions. All it took was one phone call and within 10-14 days he got the rest of his money. He spent two years going to meetings and talking to different lawyers while pissing off his neighbors. He ended up signing for 3x's the bonus money his neighbors signed for and a lease that Chesapeake has to honor.

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