Royalty adjustments
I was warned before I got the first check that there would be adjustments made on future checks, but the way it is done makes no sense. On my most recent check they made an adjustment from sept. 09. REALLY! It takes a year to figure how much gas was produced and what you were paid! They have already made adjustments to months after that. And it wasn't bad enough that they only paid $1.97 originally, now they went back and "corrected" to $1.74. I really wish I had an operator other than Chesapeake. If the adjustments were always made consistently like 1 or 2 months later that would seem reasonable, but the haphazard way they do it just seems to leave the impression that you are getting screwed. Again.
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Replies to This Discussion
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Permalink Reply by Terry Johnston on -
Get used to it. Their computer systems are set up to make all corrections even if it's $.01. The corrected gas volumes or prices often show up one to two years later and that's probably the gas purchaser's doing. I just reviewed interest changes on a client's check which went back 1.5 years.
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Permalink Reply by Bob on
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Terry, when they send me my money it says void after 90 days but they have forever to fix what a computer program should tell them instantly. Funny thing is that I haven't seen an error in my favor so far. I guess it's just a matter of time before they start charging interest because they are so nice to let me hold some of their money for awhile. I really don't understand how the gas purchaser can say a year later " we changed our mind and we are only going to pay you 1.74 instead of 1.97 for that gas 12 months ago."
Sorry about the rant but I feel better now. 8 )
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Permalink Reply by Jack Blake on -
It sounds like you are getting it the way Jack Blakes gay cousin said he does not like it..............without any vaseline............................
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