Replies to This Discussion

Permalink Reply by Skip Peel - Mineral Consultant on May 10, 2023 at 2:16

All four wells received work orders to be fracked in January and February so it is likely the wells are completed by now but not yet reported complete to the state.  That can take a few months after the work order for a frac crew to be available and then some weeks for a completed well to be reported to the state and be entered in the database..  The only way to know for sure if the frack was done would be for someone to have seen the operations.  They take weeks so they are hard to miss.

• ▶ Reply

Permalink Reply by Prosperity on May 10, 2023 at 10:03

Ok...thanks so much!

• ▶ Reply

Permalink Reply by Mister Sunday on May 10, 2023 at 14:19

Nothing in O&G moves fast, paperwork wise.  The well that’s been producing since October still hasn’t sent me a check, maybe that’ll give you an idea.  By the way, I’m in Texas.  YMMV…

• ▶ Reply

Permalink Reply by Prosperity on May 12, 2023 at 0:21

Oh wow... what company are you with... hopefully all companies are not that slow!!!

• ▶ Reply

Permalink Reply by Mister Sunday on May 12, 2023 at 3:07

XTO

• ▶ Reply

Permalink Reply by Skip Peel - Mineral Consultant on May 12, 2023 at 3:15

It's not unusual for a first royalty to take up to 180 days from first production.  I'd say that's not the average but it's not unusual.  In Louisiana, a mineral lessor can demand interest on payments delayed longer than 180 days but the state does not monitor royalty payments nor does it have requirements for timely payments other than the interest on payments beyond 180 days.  So, basically mineral lessors have no recourse and must simply wait.

• ▶ Reply

Permalink Reply by Cynthia Garrison Payne on July 7, 2023 at 15:40

What Parish?   XTO is slow in most everything

• ▶ Reply