Finally started getting our royalty checks from Chesapeake and Stat Oil. I was a member here before but nothing was happening with our property and all everyone was offering was conjecture and hearsay. The checks we have gotten from our well in Bradford county are really not that good. We must have gotten an average production well. We have 15 acres in two units and the on that is producing is about 9 acres and the total checks between the two oil companies total about $1500 dollars for three months of production. The gas prices they sold the gas out was well below the well head price that you see on tv or on Marcellus shale forum. The gas was sold for over $1.50 less than you see everywhere and the amount chespaeake takes out for production is between 34-38 per cent which is ridiculous. Hopefully, the price of gas will rise in the future to give us a little more in royalties. Just wanted to post this because when I was a member before was kind of upset that no one would say what they were getting and told myself when i received royalties I would share the info. Really thought we would be in for a windfall but I guess it all depends on the output of the well and the thing is we only have one well drilled on the pad and it doesn't look like more wells will be drilled in the near future. Just have to hope the other unit I am a part of will produce better. If any one has any questions feel free to ask. Thanks
Tags:
I would suggest that each of you get together with all your neighbors that are in the same unit. Compare results and what you have each been told about production, deductions, and anything else the companies told you. Maybe hire someone to go over the reports and explain how to read future reports. Share in the cost based on acreage in the unit. It will be worth it so understand future reports.
If the unit is 640 acres and everyone pitches in $5/acre that gives you $3200 to work with. If only people with half of the acreage participate, that still gives you $1600....more than enough to have a qualified person go over your reports and explain how to read future reports.
I would imagine someone would be willing to spend 2-3 hrs with the group for $250 to $400,,,,,, save the balance for future reports. Having this done several times would give you all enough knowledge to read them in the future.
Use any balance to have an accountant come talk about taxes or an attorney to discuss estate planning. Maybe donate some to the local VFD or first responders that need additional training. Have a pig raost for the group......building social ties is important.
LW Where is your land located? I am in the SE corner of Bradford county. I talked to a few people a little north of me that are getting royalties and they said they are happy with the amounts.
© 2024 Created by Keith Mauck (Site Publisher). Powered by
h2 | h2 | h2 |
---|---|---|
AboutWhat makes this site so great? Well, I think it's the fact that, quite frankly, we all have a lot at stake in this thing they call shale. But beyond that, this site is made up of individuals who have worked hard for that little yard we call home. Or, that farm on which blood, sweat and tears have fallen. [ Read More ] |
Links |
Copyright © 2017 GoMarcellusShale.com