Collecting Royalties from Chesapeake
Is anybody here owed royalties from Chesapeake and can't collect from them? A year ago I discovered I was owed substantial money from Chesapeake, going back over several years. I have 100% rock solid proof/evidence that Chesapeake owes me the money, yet last week I received their "final answer" that they have no money for me.
For almost a year, Chesapeake kept stalling me, and would not reply to calls, email, or snail mail. Then when Covey Park took over, I was informed by Chesapeake that Covey Park was responsible for my money, and of course Covey Park tells me they are only responsible for any royalties since they assumed ownership last spring.
Is anybody else here in a similar situation with Chesapeake?
Views: 1953
Replies to This Discussion
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Permalink Reply by Skip Peel - Mineral Consultant on -
Hayes, many members, over the years, have had royalty disputes with Chesapeake for numerous reasons. It is quite difficult for anyone to provide specific comments without some more specific detail from you. Are you willing to receive and answer some basic questions?
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Permalink Reply by Hayes McDole on
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Yes.
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Permalink Reply by Skip Peel - Mineral Consultant on
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How did you discover that you were owed money by Chesapeake? Were you receiving royalty payments and were underpaid? Or if not, were you not recognized as an ownership interest in that particular drilling unit? What documentation of ownership do you refer to as 100% rock solid? Do any other family members have an ownership interest associated with yours?
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Permalink Reply by Hayes McDole on
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Skip Peel....would you please email me at hayes_mcdole@yahoo.com
Thank you!
Hayes McDole
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Permalink Reply by Skip Peel - Mineral Consultant on
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Hayes, you're welcome. Please send me a friend request and then you will have access to my personal page which has my off site email address.
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Permalink Reply by Bob Zimmerman on
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You need a lawyer, or you would not be asking these questions. Swallow the pride and get going.
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Permalink Reply by MissMinerals on
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Agreed. Once one company either goes belly up or sells out, the new player doesn't assume past debts. The State gets screwed like this all the time and these companies have gotten pretty good at getting around having to pull out their checkbook. Chesapeake was also known for having wells never payout for the UMI owners. Listen to Bob, get a suit if it's worth a suit.
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Permalink Reply by Skip Peel - Mineral Consultant on
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Mr. McDole now has a very good O&G/Mineral lawyer - mine. A suit may not be necessary but the ever changing well/unit operators does slow down the process.
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Permalink Reply by Steve P on
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So, I've been dealing with CHK for several years over royalty accounting on a piece of family property in DeSoto Parish. I'm hopeful that I'll have that resolved by the end of this week. Will let you know.
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Permalink Reply by Steve P on
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oh, and Skip's attorney was a classmate of mine at LSU. He's excellent.
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Permalink Reply by MissMinerals on
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I'm always for fairness and good faith, wish everyone felt this way. Glad OP is in good hands.
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