Once that royalty check comes??

Once you receive a royalty check, do they start to come monthly?  Does anyone know if the Whiting South well in Pulaski is online yet?  Or is the gas being trucked out?  How about the Verno and Artman wells?

Thanks!

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Permalink Reply by S S C on February 4, 2015 at 5:47am
From my experience, they come more or less monthly but the company doesnt stick to a schedule that i can see. Adjustments are made at their discretion. The only thin i can see is that each check is less than the previous one.
0ym9x5ag7ury2Permalink Reply by 0ym9x5ag7ury2 on February 4, 2015 at 11:10am

SSC,

    Nice description of royalty checks, the part about the check decreasing.

Isn't that the truth!

Permalink Reply by Clinton44 on February 4, 2015 at 9:58am

We deal with three different gas companies here in PA our direct deposits hit the bank on a regular monthly schedule.

Permalink Reply by Clinton44 on February 4, 2015 at 11:12am

We have been fortunate we have had one owner decimal interest change and it was to our favor! Yes the price of the product does change according to the market.....

Permalink Reply by Clinton44 on February 4, 2015 at 12:50pm

Oh ok ... I see yes that would upset me as well especially if the price adjustment was lower, which it probably is...

0ym9x5ag7ury2Permalink Reply by 0ym9x5ag7ury2 on February 4, 2015 at 11:15am

Matthew,

      I have a explanation from CHK Revenue Dept of why my decimal interest changes for certain products.

A 2nd company, Total E&P owns 25% of the well products so CHK jockeys the ownership fraction for this reason. I'm sure this is just another way to short change the landowners royalties, just harder to figure out than an outright theft.

Permalink Reply by David on February 5, 2015 at 3:54am

Permalink Reply by David on February 5, 2015 at 10:07am

it is not as simple as that if your state follows the rules of apportionment. You need to know the total acres of the unit, the amount of total acres you have leased, the amount of your acres in the unit and your royalty percentage to calculate your payment properly.

Permalink Reply by Ragnars Repo on February 4, 2015 at 11:59am
JoKlause,
I'm assuming if your asking about the Whiting well that you may be leased with Hilcorp? If so you will receive checks at the end of each month. We have had no issues thus far with their calculations. The decimal interest has been accurate and the price for condensate, oil, and gas is clearly identifiable. We have a no deduction lease and thus far we have had none of the issues that many seem to be having with CHK.
Permalink Reply by JoKlause on February 5, 2015 at 2:27am

Thanks everyone!  Does anyone know if these wells are online?  Or how I can find out if they are?

Permalink Reply by Mark Mijavec on February 5, 2015 at 7:01am

What you have said makes me feel good, however I am concerned with these prices about the impact on the royalties, can you say what the price impact has been as a percentage?

Permalink Reply by Ragnars Repo on February 5, 2015 at 9:47am
We have seen as high as a 50% decrease in royalty amount. There is a fairly steep decline in production after a few months but the drop in oil/gas price has been the larger factor.

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