No check from CHK in March

I saw a  post about what CHK paid for January production, with the actual checks coming in March.Well I never got one.

I signed up for direct deposit and have been getting a small deposit each month from the 21st to the 24th. However, I did not get one in March. I thought maybe they'd be a few days late so I waited.

I finally emailed CHK on Sat 3/29 but as of today, Thursday, I haven't heard back so I called.

Get a load of this!

After waiting for her to check why, she gets back on saying they didn't send the check because they haven't received payment from the purchaser of the gas. When they get threi money, they will send out my check.

What a load of c--p.

I wonder how this fits in with the end of the 1st quarter? How does this fit with CHK's financial woes?

Have others been subject to this treatment as well? Just wondering...

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Permalink Reply by wyalusing jim on April 6, 2013 at 2:49am

cases do come up now and then in which mineral owners have been able to prevail and receive repayments and punitive compensation for underpayment of royalties. those make the news.

what doesnt make the news are the plethora of cases that lose.

most times, these underpayment cases hinge on interpretation of language, both in leases and laws of the states. some companies play every advantage until a court tells them that they cant.

my guess is that chk is not under reporting, except for some mistakes now and then, which are usually corrected in subsequent payments.

the deductions i think are a different case. chk is heavy handed there, and i think that either future legislation or case law will resolve that matter as was the case with range a while back.

i've been hearing for the past 6 years or so that chk is going to go under any day. it aint happened yet.

regarding enron, you do know that E.O.G. stands for enron oil and gas right? so they're still around too.

it's gonna be ok matt. in fact it's gonna be awesome...no...it already is awesome, it's gonna be awesomer.

can ya tell that i'm an optimist?

wj

Permalink Reply by Wayne Miller on April 6, 2013 at 2:54am

 I'm in 3 adjacent CHK units. All feed into the same gathering line within a mile of each other. CHK paid royalities on 2 of them, but not on the third. Their reason was they didn't receive payment from a buyer in time. The third is the lowest producing of the 3. The other difference is that this unit is joint CHK - Statoil, the other 2 also have Anadarko and Mitsui.

Permalink Reply by robert c miller on April 6, 2013 at 7:00am

Has anyone  retained an attorney to assure correct payments?  Iam in line for royalties and wonder if it would be worth doing so.

Permalink Reply by marilyn ascani on April 8, 2013 at 6:47am

CHK was fined to the tune of $765,000 for shorting the Dept of Interior on royalty payments for federal land, they were "rounding off" in CHK's favor and got caught.  So if they have the gall to short the US govt, imagine what they can do to the landowners.

2z248p19vqnh9Permalink Reply by 2z248p19vqnh9 on April 12, 2013 at 3:40pm

WOW...ok, Stan - had a situation where a well right beside small property - I was somehow not included in 'drilling unit'...BUT they needed a pipeline...so guess what - now included (magic!)...non-surface use agreement...received fed-ex containing a 'notarized' letter informing me that I am NOW 'in' drilling unit (imagine that!)...hmm...

This was 'notarized', but I had not signed. When read through - saw that there was 'sentence' saying that they could TAKE ME O-U-T of the drilling unit - anytime they choose to. Hmmm....I called on this - told it was so (that I COULD BE REMOVED...).

 I then asked IF I would receive 'notification -by mail- IF that were to happen...answer - no. WHAT do you do with THAT one?...talk about 'livin' on the wild side' -or- 'the edge'...or some-such nonsense...I have a card up my sleeve on that one, too.... Basically - that I just wouldn't be receiving a check...strange games.

As one light lights another, nor grows less - so nobleness enkindles nobleness.

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