Frustration
Just got a Gulfport check - our deductions (with the no deductions but market enhancement clause lease) has now risen to 35%. Production was also cut in half. This is so frustrating that there is so little information out there for the property owner to educate themselves and/or manage this process. If my lease says no deductions directly or indirectly for gathering - than I should not be charged for gathering as a market enhancement. Why does this charge fluctuate every month - always going up but never down? We as landowners are a part of this business so why are we not entitled to the proper information to manage our business? If as a business owner I am paying for market enhancement costs than as a business owner I should be entitled to a breakdown of that information each month as well. If I rent you apartment and the lease says you have to pay half of the electric bill over $100 - you get to see the elctric bill to verify you are paying your proper part. And your part is always the same percentage just a different cost based on the size of the bill! Sooooo frustrating :-(
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Replies to This Discussion
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Permalink Reply by 0ym9x5ag7ury2 on
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This might be a good place to leave a copy of Buck Well 1H Royalty Payments for the first 5 months of production starting in Feb 2014 when well products were at a peak.
Notice I was paid $56 per acre per month for 2 months. Chesapeake had no plans to pay landowners a fair royalty as stated in their leases.
Most of us have 17.5% Gross, No Deduction, Fair Market Value Sales, Arms Length Transaction leases.
Notice the sale to CEMI, Chesapeake is selling to itself. That's just the beginning of the theft. Notice 3 columns of deductions while our Royalty Statements show no deductions. This is 1) Federal Mail Fraud 2) Theft By Deception 3) A Pattern Of Corruptions which leads to 4) RICO Activity.
Oh but please ensure you talk about Civil Matters since Criminal Matters will blow it for all Ohio Lawyers who stand to make a fortune, year in and year out.
Please don't "Kill The Goose, That Laid The Golden Egg", just sue them in Civil Court and share the wealth.
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CHK Theft Spreadsheet.pdf, 2.8 MB
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Permalink Reply by Jon on
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How is the payment decimal figured out? I thought that they couldn't take anything out if it was a gross lease?
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Are royalties improving since gas prices are climbing?
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Permalink Reply by Joyce Marr on
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Any updates/press releases from PA AG Kane's office on their pending case against Chesapeake Energy et al re minimum royalty ??
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Joyce,
I don't have an update but I'll leave a copy of the Complaint in case you haven't seen the original.
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Permalink Reply by David Allen Lilly on
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Have your oil and gas attorney compute the shortages and contact your producer to make good on the arrears.
I sympathize with you, do what you can to remedy the situation but try to not let this drive you mad to the point where you are on the site constantly writing the same tired comments with blanket assumptions you cannot possibly verify.
Please keep us informed as to the response your attorney gets from Gulfport.
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David,
In Ohio the "Clock" for the Statute of Limitations for theft doesn't start until the theft stops.
You know the theft isn't going to stop, so the Statute of Limitations won't come into play.
You should recover 3 times all of your loses due to the Ohio RICO Law.
The 3 year drop off of well products stolen may have worked out west, but we have been writing laws in Ohio for a few hundred years covering every possible theft those Cowboys can dream up.
The thefts have been committed, the evidence can't be hidden, and the laws have been in place for years. Now all we have to do is walk through the motions in court and those who have had their way with Royalty Owners across Our Nation will hear the sound they have so long deserved to hear: "Guilty"
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Permalink Reply by Jeff Kerr on
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Rice has not paid us any thing in 2016 last check 12-15 15 was for 15.00 what a joke
they say our unit is curtailed what or how are they staying in business any money is better than none I for one don't believe any thing they say.
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Jeff,
What well are you associated with?
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Permalink Reply by Jeff Kerr on
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Michael MCNicholas GRE 8 H is our well Albert Russell I don't have a big part of the unit but come on. There were months my Royalty was .79 cents per month per Rice. They said low prices small percentage and low production were the reasons for no royalty
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Jeff,
Wow, that's pretty sad. Is your well in Ohio?
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