I have sent a certified letter to Chesapeake regarding my interest as I am UMI. Should this letter be sent to the state of anyone else?
Thank you for your input. I have read "umo basics" at least three times now. I still need clarity on it. I understand the operators of the well are to report within 90 days from completion of the well to the owners of unleased interest. But that's only if they are in receipt of written notice by certified mail from owners making them aware of your mineral rights and interest of the land description ect. I just sent that letter. I'm wondering since the completion of the well was 10-16-09, they should send the reports in 30 days. Does that sound right?
In my experience they will get you (some) reports within 30 days if the well has been online that long. Maybe not everytime, but that is my experience most of the time.
Note on 30:103.1 that these are reports provided by the operator, generated by the operator. There is language in the statute to the effect that: they don't have to report what they don't know yet. I have seen a HA operator claim that that they were not late on a UMI requested report because they did not have all the information ready yet. As with most issues, until it is litigated or the statute is amended, it can be read subjectively.
Also note that since your interest is smaller (I think you said 3ac or so), then some of the later reports after the well has been online may have your share fall below a certain minimum to provide these, I think they have to provide them yearly at that point.
Thank you for that information. Makes sense..
La Rev. Stat 30:103.1 (D). For proportionate share under $1000.
If I misinterpreted it, let me know.
Right you are, I wasn't aware of that provision. However, 1 acre's worth of drilling costs on an $8 million well would still be $12,500 so 3 acres in a Haynesville well should fall comfortably over that minimum.
correct. it was just a note re: some of the later reports that trend lower, since this well has been online since 09. If the reports stop coming a UMI may want to check where they are on amounts.
I will keep checking! Thank you!
Wow, that's exciting!!