SWN proceeds

Hello Folks I am curious about the lag time to receive proceeds once a well has been completed. SWN drilled 4 wells near our land in Pelican, LA. The well numbers are:

  • BrushyG 33 & 4 11 – 12 HC #1 SN 253481
  • BrushyG 33 & 4 11 – 12 HC #2 SN 253482
  • BrushyG 33 & 4 11 – 12 HC #3 SN 253483
  • BrushyG 33 & 4 11 – 12 HC #4 SN 253484

If I am reading Sonris correctly they show the wells were put into production at the first of May 2023. We have not gotten division orders or revenue statements as of yet. Is a 3+ month delay normal?

Thanks for any insight you may have.

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Permalink Reply by RC on October 16, 2023 at 1:52
No
Permalink Reply by Prosperity on October 16, 2023 at 19:44
This is terrible... I wonder if we can get a class action lawsuit going
Permalink Reply by Prosperity on November 19, 2023 at 21:41
RC did you ever receive your division order yet?
Permalink Reply by RC on November 20, 2023 at 8:43

No - we did receive a check for 6 months royalty interest in late October. 

Permalink Reply by Prosperity on November 20, 2023 at 15:47
Ok... well that's good news... hopefully we will be receiving something soon.. our wells came online in late April.
Permalink Reply by Dallas Lewis on August 25, 2023 at 2:07

I just got an statement from them via EnergyLink with proceeds from January through June and backup withholding because evidently name, address and email are not enough to send a DO or W9. 

Permalink Reply by RC on August 25, 2023 at 2:32
Thanks Dallas. I couldn’t help but think about the significant income they can retain in their accounts for months. I guess it’s common practice and I’m probably missing something. Good luck to you.
Permalink Reply by RC on August 29, 2023 at 5:04

Quick question Dallas - was the first check a combination of the previous months? And the successive ones; do they have a 2 month lag? Thanks for your help RC

Permalink Reply by Rock Man on August 29, 2023 at 5:46

First check will be a "catch up" check that covers multiple months.

Succeeding checks will be only monthly production payments - gas normally two months behind while any oil production can be one month behind. Depends on area and operations / marketing agreements.

Permalink Reply by Dallas Lewis on August 29, 2023 at 5:45

It was all six months (January through June). It is the only check I have received but all the others seem to have a 2 month lag. And it is for the Bier 15-10 HC 1 A (DeSoto Co)

Permalink Reply by Prosperity on October 15, 2023 at 18:15
Dallas was SWN the operator?
Permalink Reply by Skip Peel - Mineral Consultant on October 17, 2023 at 2:23

Yes,SWN reported the Bier 15-10 HC #1-Alt complete on 1/27/23.  All LA gas wells report monthly production about two months after the reported month.  So August production would be reported in the last two weeks of October.  And yes, the first check for a new well will be back to first production.

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