Replies to This Discussion

Permalink Reply by Linda Whatley on February 4, 2011 at 2:35

Thanks FX....

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Permalink Reply by RBH on February 3, 2011 at 18:36

do you prices in Nacogdoches county

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Permalink Reply by Henry on February 4, 2011 at 0:35

RBH,

I welcome Texas prices too.  You will see a few Texas respondents who have already sent data.  I would like more.  Thanks.

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Permalink Reply by Polly Ann Foote on February 4, 2011 at 3:55

We have a very small interest in the Chalybeat Springs Ar unit (6000+ acres) that has been producing since 1976. We receive checks from 2 companies, Petroquest and Texas Petroleum. Both checks list the same price for the same month, and the amounts are greater than that listed for the wells you are following: for example 7/10: $6.98; 8/10 $7.19; 9/10:$6.19. Our interest is small and the tract is huge so we only get one check a year. I wonder if they have hedged their production as these prices are in excess of the market value.

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Permalink Reply by Henry on February 7, 2011 at 8:04

Polly,

Since your prices are hedged, they would be like apples to oranges (or should I say fine wine to cheap moonshine) in my survey.  So I think I won't post them.  I don't know how you get the hedged prices, but be glad.  Many of my respondents received under $3 for the last few months.

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Permalink Reply by Polly Ann Foote on February 9, 2011 at 3:59

http://www.oilandgaslawyerblog.com/2011/01/the-importance-of-audit-...
This discusses the importance of audit rights in oil and gas leases. Case is Shell versus Ross. Shell underpaid Ross, and he prevailed in the lower courts, but Shell has appealed to the Supreme Court of Texas and Chesapeake has filed a friend of the court brief asking for a reversal of the appeals court.

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Permalink Reply by John L on February 11, 2011 at 5:22

Roy,

We just got our first check from Chesapeake.  I was prepared to be dissapointed with the price but I was completely shocked at what we received.  We got 2.75 for October and 2.35 for November with no cost royalties. Have you been able to get anything resolved with them?  We are trying to find out how to go about getting this resolved as well.

 

Surely people are getting tired of this by now but it seems that maybe they have given up.  Also, there are fewer prices being posted on the spread sheet.  I see that there are lawsuits in other states but It doesn't look like anything is being done in La. 

 

Please let me know if you have any luck in clearing this up and how you went about getting it done. 

 

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Permalink Reply by Henry on February 11, 2011 at 6:36

John L,

If your lease calls for cost-free royalties, then Chesapeake ought to give them to you.  The experience of people on this site is no one gets them automatically, even though your lease called for it.  You must go through the pain of calling Chesapeake, talking to the automated system, waiting to be called back, etc.  Then, once you finally get a person, you must explain your situation, wait for them to go find your lease, and confirm that they indeed owe cost-free royalties.  I've heard feed back from various people that it takes anywhere from a week to many months to get them to admit their mistake.  And the, and only then, do they actually go back and pay you what they owe you.  Good luck - you're in for a possibly long slog.

 

So, step 1 is call CHK's 888 number in OK and leave your message.

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Permalink Reply by John L on February 11, 2011 at 6:43

Thanks Henry.  We'll start the process and let you know how it goes. 

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Permalink Reply by Katie McCullin on February 11, 2011 at 6:42

Hi John -

 

If you would like, share your contact information and royalty owner number with me, and I'll have someone contact you to go over all the details. I'd love to try to help.

 

Thanks!

Katie

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Permalink Reply by John L on February 11, 2011 at 9:13

Hi Katie,

Thanks for offering to help me.  I have sent a friend request so I can PM the information. 

 

John L

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Permalink Reply by pal on February 11, 2011 at 15:06

John, I went through this with CHK, check your lease, I have a no deduction claus in the lease but it states that, Lessor's share of any such cost which result in enhancing the value of the marketable oil,gas to receive better price may be deducted from Lessor's share of production so long as they are based on Lessee,s  actual cost of such enhancements. CHK is taking out about 60 cent per unit and claiming it is for enhancing the gas. I thought that this was so we would receive better price for the gas, not pay me less!! go figure. CHK has not provided me with back up for actual cost this, I can not find out what the actual price CHK is paying at the well head. All you receive on the statement is what you are being paid. NOT MUCH INFO FOR THE LESSOR.

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