Replies to This Discussion

Permalink Reply by Jim Cobb on December 21, 2010 at 5:30

QEP Energy  10/10/10  Section 35 Township 15 N Range 9 W  $3.85 on 24163 and $3.77 on 79051

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Permalink Reply by David on December 21, 2010 at 5:42

Paid $3.38 on 12/21/2010 check for October production. Sec. 32, 14N, 12W

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Permalink Reply by Henry on December 21, 2010 at 13:00

David,

Paid by whom?

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Permalink Reply by Henry on December 27, 2010 at 5:37

Everyone,

I'd like to post new numbers before the end of the holidays.  So please, if you haven't already submitted you prices, do so as soon as possible.  Thanks in advance.

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Permalink Reply by Jack Blake on December 27, 2010 at 7:01

Henry,

Jack Blake just got his first check royalty check from Encana today! 

Cost free royalty interest(RI)     Paid 3.63 for sale date 10-10-10

BTU factor 1.016(I guess the BTU factor is already figured in to the 3.63. Does anyone know if you are supposed to enter the BTU factor or is it already done?)

Section 21  T10N R-11W

 

Jack has several questions that pertain to his current HS status.  Jack thinks he read of others with similar circumstrances, but Jack is old and forgetful.......Help a HS Brother out...........

I'm leased to CHK, but SWEPI drilled the well.

My first royalty check came from Encana.

I have never recieved a DO, but I think they actually gave me a  bit better royalty percentage than I figured.

It appears to me that this check from Encana is for 50% of my 25% cost free royalty.

I think I will be recieving a check for the other 50% of my cost free royalty from SWEPI or CHK.

It seems I read of someone with same situation and their second check came from SWEPI I thought. Anyone remember?

 

QUESTIONS:

How come Encana paid me royalties before I recieved a DO?

I know others in the same section who have not recieved a DO yet.  I don't think they have recieved any royalty checks yet.

Now I see Encana has 50 percent of my lease.  I'll be contacting ENCANA, SWEPI and CHK to see who owns the other 1/2 of my lease.

I'm filling out and sending in the direct deposit form for Encana.

 

Jack Blake

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Permalink Reply by Holly Opperman on December 27, 2010 at 10:28

I am in the same section, but have not received a check yet.  Encana said that our interest has been suspended pending completion of title work.  They said to contact Shell and ask why Shell was suspending our interest, which I did, and Shell said just to sit back and wait.  The person I spoke with wouldn't give me a contact number for anyone who is working on the title.  Any suggestions???

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Permalink Reply by Two Dogs, Pirate on December 27, 2010 at 12:18

They have contracted all the title work out so chances are the sit back and wait answer is the best they can give you. Mineral title can get very complex. Abstractor do the runs that are sent to an examining attorney, many times flaw are found and are sent to a landman to go into the field and fix. Sometimes the flaws are from many years ago and take some time to fix, some are never fixed. After the landman finishes what he is sent to do the work goes back to the examining attorney, this process could go back and forth between attorney and land several times. Many times the landman working the project is not the same landman that bought your lease, but sometimes it is the same landman. You may try giving that person a call.

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Permalink Reply by layla on December 29, 2010 at 6:14

I also received what I think is a slightly better mineral interest than I was expecting from Encana.  (Either I have a smidge more property or the section is a bit less than 640 acres.) Encana said that a DO was not required in Louisiana before checks could be paid but they are willing to send you one if you contact them and ask for it.  I am leased to SWEPI, but check from Encana for 1/2 of royalty with other 1/2 royalty to come from SWEPI when they get "a round tuit" as this is a JV well involving Encana & SWEPI.  I am about 12 miles from you and received $3.56 per MCF royalties for October 2010 with BTU factor of .996.   The checkstub has quite a bit of information on it for the company's expenses on the left but all info on the right for the mineral interest is zeros and the person I spoke with at Encana before the check arrived said that they were paying cost-free royalties as specified by my lease. Checkstub doesn't show any deduction for severance tax either.  Encana seems to be remarkably efficient in getting out checks as this well was only completed in October.

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Permalink Reply by Pam on January 3, 2011 at 17:06

Congrats Jack!

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Permalink Reply by Linda Whatley on January 3, 2011 at 17:57

That's great news Jack.  Hope it was a good one!  

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Permalink Reply by adubu on January 4, 2011 at 6:49

Jack Blake-- don't know if any one answered about BTU and price but Sandridge price on my royalty include the multiple of the BTU factor ie in your case the NG price X 1.06= 3.63

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Permalink Reply by Ben Elmore on December 29, 2010 at 5:07

I've seen Henry working hard to get people to send him check stub data.  For what it's worth, if you really want to know if you are being treated fairly by your lessee, you need to be willing to share information on your check stub.  Your lessee is not going to act like Progressive car insurance.  They are not going to tell you what your neighbors who are leased to another company are getting paid.  They are not going to tell you what your neighbors are getting charged for post-production costs.  They are only going to regurgitate what is on your check stub, and if you are lucky, they will explain every little deduction.  But even if they explain every deduction, you still have no hard data to compare it to.   In the legal world, if you want to prove you are not being treated fairly, you have to have comparable data of other prices paid and costs charged.  Henry's survey will be a very valuable tool in the long run.

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