SWN Oil Restoration Fee and joint owership calculations
SWN apparently just changed GEP over to their revenue statements.
The new statement included a Production Tax labeled RESFEE which I assume is the Oilfield site restoration fee, established with RS 30:87. Section E states that these fees shall be borne by the responsible parties and not by the royalty and overriding royalty owner.
Also if you have any wells that are jointly owned SWN changed the way they calculate owner volume - apparently they halved the volume and doubled the distribution interest. Some wells they got right but some they cut the volume by 75%.
.
I have callerd them and sent an email. If you have either issue I would call or email them also.
Their phone is 866-322-0801. Email is ownerrelations@swn.com.
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Replies to This Discussion
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Permalink Reply by Skip Peel - Mineral Consultant on -
Thanks. I find it interesting that a regulatory statute that was passed years ago is now showing up on revenue statements from multiple operators particularly since the statute clearly states that the fee is not to be paid by royalty and overriding royalty owners. I look forward to hearing SWN's response.
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