Rice Energy Clawing Back Royalty Payments

Rice Energy is clawing back royalty payments for the past three months. How common is this? Is it legal? 

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Mike MurphyPermalink Reply by Mike Murphy on March 15, 2016 at 1:40am

These companies have the attitude .........we will deduct it and if you don't like it sue us......90% of lease holders cant afford to fight them so they win screwing the landowners

Permalink Reply by william Allen. Ladd on March 15, 2016 at 1:49am

Makes a land owner want to say NO to signing any kind of oil and gas lease with any outfit!

 

Permalink Reply by KAS on March 15, 2016 at 6:16am

Our well went into production at the end of May 2015 and in December 2015 they went back and took out deductions from June forward.

Permalink Reply by Gas Boy on March 16, 2016 at 12:18pm

I received royalties for December 2015 production, and saw that Rice took out deductions dated September 2015.  Deductions were taken out initially in Sept. 2015 check.  Called them up and left a message and here it is 3 days later, no reply.

It's like a constant, and revolving, deduction stream for these companies!

Permalink Reply by Mark Y on March 16, 2016 at 7:46pm

Gulfport is the same, they claim they forgot to take out deductions from previous months and collecting from what is producing now.

Permalink Reply by Joseph-Ohio on March 16, 2016 at 9:52pm

Based only on the myriad of posts we've read here on these pages over the years on this subject (but, we've read many more similar elsewhere) - we're taking away that it's practically impossible to even consider attempting to do business with any E & P company these days.

Anybody else developing / getting that impression (or have concluded so) ? ?

What can be done about that ? ?

Does every lease and / or even purchase agreement end up in court ? ?

What say all of you ? ?

Is it just me or what ? ?

Permalink Reply by sircedric on March 16, 2016 at 11:59pm

Just you,lol. I hear ya but if we were part of the millions of people that arn't involved with the gas companys, would we care? Iv'e moved on with getting riped off. Enjoy life, you only get one, i think.

Permalink Reply by Joseph-Ohio on March 17, 2016 at 12:03am
i think so too.

Keep thinkin' friend !

J-O
Permalink Reply by Frank Walker on March 17, 2016 at 12:09am

Joseph

I wish it were just you.  Life would be far easier.  But it's David vs. Goliath.  And we are David.

An earlier poster wrote 90% of us cannot contest.  I think it's more like 99%.  And the gas companies know this.  They also know how to pay off our legislators with filthy "campaign contributions".

The power of all special interests is nearly overwhelming in America today.  You see it at the national level, where Bernie, Trump, and Cruz have taken on the entrenched powers.  And look at the push back they all are receiving!  Trump and Cruz are hated; detested; feared within their own party.  Bernie only slightly less so, solely because they know he is losing.

The "big money boy" special interests do not yield their power easily or readily.  And gas companies are quintessential "big money boys".  

Permalink Reply by william Allen. Ladd on March 17, 2016 at 1:56am

It is called Capitalism!  If you have lots of money in the first place, you can be home free.  The small landowners have little chance to improve their financial situation. "The BIG BOYS" have seen to that!  And if a small land owner or other person with limited resources should happen to discover some sort of financial windfall there is always someone who is unwilling to let him keep it or enjoy it. There is always some tax or hidden condition that siphons away as much of that windfall as possible.

Permalink Reply by Joseph-Ohio on March 17, 2016 at 3:29am

I call it the little guy getting his but kicked around the block myself.

Permalink Reply by Charles Kessler on March 17, 2016 at 1:25am

They take post-production costs out of future poyalty payments.

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