How Long Before I See Royalty $$$
I'm wondering if anyone can tell me how long it takes before a right's owner begins seeing some kind of royalties once a well pad is in place? I was "unitized" back in April on a pad 1/2 mile behind my home. Since then they've installed an entire drilling pad, put up a tower (about three weeks ago - complete with bright lights and all), and they've been going gang-busters day and night back there. How long does it take to drill a well? Is there a website somewhere that I can look at to see progress, or is that wishful thinking?
Thanks
John
KAS
Try this John
https://gis.ohiodnr.gov/MapViewer/?config=oilgaswells
As you blow it up and move it around it brings minute detail down to property lines. It is a wonderful site. You can click on any well and it opens open another page with all sorts of links. Play around with it and you'll get the hang of it. Shows you who is all in the unit,;Date they started the pad; completed; went into production.
Jul 31, 2016
frank speaker
The good news is that high school students are better at math than when they get older. The bad news is after they calculate the revenue, they are highly skilled at subtracting imaginary expenses.
From my experience, drilling began early in June, the first production came in September, and the first four months of royalties were paid at the end of February. At the end of August, I'll be paid for June production, ( I hope).
Jul 31, 2016
Utica Wells are producing huge volumes of Oil, Natural Gas and NGLs.
Most companies are bragging about the volumes while the Unethical companies are under reporting volumes based on a comparison of well volumes reported to the ODNR using the Honor System.
Chesapeake already has a history of under reporting well products which can be seen on line if you search. I have no doubt they are under reporting and so far the evidence says its bigger than I thought.
I'm sure Cheapeake has underestimated what will happen when we get around to acknowledging their theft. These "Easterners" are trusting fools for now, but you won't escape our legal wrath when the judge's hammer drops. We have the toughest RICO Law in the Nation and there is no way to change or hide what you have done Doug. Oh, and this will be Criminal Court not Civil Court. Prison Time will be handed out.
Aug 2, 2016