Chesapeake no payment for May 2016; March 2016 gas
It is my understanding that Chesapeake is not paying royalty payments this month for most of Bradford and Sullivan Counties. No statements, company line, costs were greater than production, landowner owes us money.
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Replies to This Discussion
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Permalink Reply by alexandra on
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I am one that did not get a payment. Also, no statement as of today. I got checks from mitsui, statoil, and Anadarko. I guess they don't want to issue a statement for May as proof of their theft.I called them two days ago, and they said even though there was a negative balance, they would not bill me. Aren't I lucky to be dealing with such a great company. I told them I was good enough to let them use my land so they could make money, and I would appreciate my share!!!!
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Permalink Reply by T Conner on
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They just lost a 54 million dollar case in Texas with McDonnell law firm two weeks ago. Just as bold as one company can get. PA AG lawsuit and several others in process along with a PA proposed bill to change royalty payments.
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Permalink Reply by 0ym9x5ag7ury2 on
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That was a gift, 13,000 Texans got an estimated $4,000 each for years of theft similar to ours.
I personally think the feds should take the whole lot of Chesapeake's Executives and put them in the witness protection program to protect them from 13,000 "Upset" Texans.
So who will be to blame if violence erupts, Chesapeake, those who ignored the laws that have been so blatantly violated across the US, or the Citizens who take action outside the law.
I believe Federal and State laws should be enforced uniformly regardless of Business you are engaged in, Wealth, Status, or Position held.
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In Ohio landowners were told that the company Chesapeake sold to reported that they overpaid Chesapeake and the landowners. One landowner called and told Chesapeake he was aware that Chesapeake had sold to themselves as CEMI since we have the evidence. Yes that was true per the CHK Associate. Busted!
The truth is as follows:
Chesapeake sold to themselves by handing off all well products to CEMI, below fair market value at the well (A paper sale only), then charged deductions against that bogus amount for Production Costs, all the way to the final buyer.
So how do you sell a product at the well head for below Fair Market Value, then charge huge deductions for Production Costs to the landowners who no longer own the product?
Besides that, Ohioans with ALOV, SURE and Williams leases require a royalty on the well products at the final point of sale (if you read the whole lease) with no costs for getting the product to market or making the products marketable.
We should not be paid a bogus payment at the well head, but at the final point of sale.
What we are all experiencing is the worst case of theft Appalachia has ever seen, with Ohio's losses due to NGLs being stolen, being in the Billions, with no government body willing to take action.
I pledge allegiance to the flag ..so on and so forth... With Liberty and Justice For All. Justice to follow.
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Permalink Reply by Moldyoak on
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March pricing was horrendous, and it also appears they choked back the wells by approx. half (I can only speak for the two units in which I have interest.)
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Permalink Reply by Gary L on
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http://www.gasandoilmag.com/business/2016/03/11/ohio-shale-a-tsunam...
Link above indicates wet gas is doing well back in March 2016.
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Permalink Reply by Moldyoak on
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I was talking about Bradford Co PA Marcellus pricing, all dry gas. Or relatively dry.
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If you aren't being taken for a ride by your producer, you are an exception.
Strike that "exception" comment. Your producer operates uniformly across the US.
Are you enjoying the ride?
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Permalink Reply by Moldyoak on
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Considering that "my producers" are doing 100% of the work extracting something a mile and a half below the ground while I sit on my porch with a beer, and considering I have a hell of a lot more than I did 5 years ago, yes I am indeed enjoying the ride. I believe you and I see things a bit differently, but that's ok. I only have so much time of conscious existence on this planet and I need to allocate my concerns. I do wish you good luck in your own!
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Permalink Reply by David on
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Please consider the fact that the producers need the landowner as much and the landowner needs them. Remember they get 85% of the money for their efforts. I would submit that is plenty even without deductions
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What country are you in David? In the US we are getting 0 to 2% for a royalty, that means our producer is taking 98% to 100%.
I can assure you if our producer continues to get Civil Matter status for their theft, your producer will increase his take until you and Moldyoak are asking for some help from those of us who know how this is being done by the producers.
Moldyoak can drink his beer and read the papers to try and find help. Oh, I almost forgot, no one prints bad news about oil and gas theft in the papers, it's bad for the governor.
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Apparently none of you uninformed goofballs ever sold any coal....best case scenario is a whopping 4 percent for the mineral right owner....4 percent girls, that's all you get. We need them more than they need us.....how many of you with a whopping 2.6 acre stake has 7 or 8 million lying around to drill and frac your own well?....without THEM we get NOTHING and the resource stays in the ground for eternity.....greed is ugly folks
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