Non Payment Of Royalties From Chesapeake In Hayensville Play
We have interest in S30 15w 11n I think thats the numbers and we have not had a payment since September 2013. Chesapeake will not talk to us or tell us why they haven't payed us and it's so stressful and infuriating!!! Is anyone else having this problem? Also what can I do? It seems that Chesapeake can do what ever they want with impunity!!! Chesapeakk is the worst company ever!! the've held back payment claiming that they have "Over Paid Us" which i find hard to believe. They've done this 3 times!! How a large compant like their's can be so bad at accounting is hard to believe. I have a feeling we've be ripped off.
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Replies to This Discussion
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Permalink Reply by Paul on
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That's great in theory but in actuality they just ignore and obfuscate. Iv'e decided to try the media route to see if there is a story that the papers or tv new might be interested in. It6's been offically 3 months since our lastpayment with no word from Chesapeake.
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Andrew, in the face of receipt by certified mail, I recently had an E&P through it's attorney deny that it had received any letter from me pertaining to a certain producing well. I suppose by some twist of the law I am in default by not replying, and the untrue is now true in a court of law.
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It just gets better and better. Now two cases in the US Fifth Circuit Court of Appeals may determine who gets the money.
http://www.oilandgaslawyerblog.com/postproduction-costs/
Follow the links for some good stuff, and in particular, don't miss this:
http://www.bloomberg.com/news/2012-08-30/chesapeake-squeezes-landow...
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Too bad they will not handle it the way other issues are handled. Guess CHK is too much in the red to simply say, "I pay up and you shut up."
http://www.businessweek.com/news/2013-06-06/drillers-silence-u-dot-...
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They should be able to tell me but it's been three months and NO ONE will talk to us,NOBODY AT ALLLLLLLL!!!!!!!!!!!
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By the way, some have said they could check out our well production with the correct numbers, well, here they are: S30 15W 11N. Please check cause sonris is impossible to use, I can't figure it out.
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Permalink Reply by Andrew on -
Production from the HS well for that unit over this year hasn't been interrupted or declined enough for payment to stop based on that alone.
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Permalink Reply by Skip Peel - Mineral Consultant on
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For the last month posted - ~$29 per mineral acre.
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Forgive me but i'm very math deficient, what does that translate out to in monthly income? We have %25 interest. Thanks
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Permalink Reply by Skip Peel - Mineral Consultant on
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Depends on the number of acres you own in the drilling and production unit. If you owned 10 acres your royalty check for the last month of reported production would be ~$290.00. This example makes certain assumptions such as a 640 acre (1 section) unit and a quarter royalty.
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