My investors finally got put in as unleased mineral owners on 5 wells in one section with Chesapeake. They get their first check this week ( after owning the property 20 months). First check has 10 spots and each say January 2019 Cutback and an amt. They get the total of the amount which is certainly no where near what they are due. A day later they get a copy of well EXPENSES but not well production but we can look that up on Sonris. The only thing the report says is PERIOD 1. It doesn't have ANY dates. I have been in touch with their legal dept. and they don't know what it means. Said they have to wait until revenue tells them. Has anyone experienced this. Does anyone know how Chesapeake defines Periods 1, 2 etc without any chronological data.
yes. It really leaves the small owner with few choices. There has been some success with lessors and royalties through class action firms, but nothing that I am aware of in the forced pooling/cost area. Thanks for your comment.
Thank you for your reply and for you info, Robert.