Range Resources royalties

Range has started to only send royalty checks every other month for my well in Venango County.  Has anyone else noticed this?  Even if it is $23.00 every OTHER month, it's tied up in "production"   Is that correct?

Joan

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Permalink Reply by G.H. on October 2, 2015 at 10:11am

A lot of times they will wait for royalties to accrue to more than certain amount - maybe $20, $25, or $50 - before they send a check.  Not sure on the legality of such practices based on state laws, but I have seen paperwork indicating that some producers practice that method.

Permalink Reply by Jo on October 2, 2015 at 1:17pm

Thanks but this stinks....

Permalink Reply by Joe Fabeetz on October 3, 2015 at 1:49am
It has been an industry practice for many years to suspend royalty or working interest payments until they reach a minimum amount, sometimes set differently by each state. The reason is that the cost of producing the check may be more than the amount of the check. The amounts accumulate to either the minimum or the end of the year whichever comes first. If minimum suspense is not involved, check your state regs as to how soon after the end of the month following the production date the royalty must be paid. That,too, varies by state. Note: I am NOT an attorney so NOTHING I say or post should be in any way considered legal advice.
Permalink Reply by Tim Tarr on October 3, 2015 at 2:10am
Some leases state $100 before ck issued.
Permalink Reply by James T Monyak on October 5, 2015 at 8:42am

For income taxes reason a drilling company will pay you through the end of Dec for year-end and it does not consider the amount.  Therefore, everyone gets at least one check a year if the well is in production!

Permalink Reply by Jo on October 5, 2015 at 9:23am

Thanks

Jo

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