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