Aethon payments
david entrekin discussion copied from the Main Page. Can you help him out Bienville members?
Has anyone had payments decrease since Aethon has bought their interest? I started out with Cheasaepke then PXP and QEP and all of their payments were within one or two cents of the market price, since Aethon has started paying, their price is from 15% to 38% lower than the market price.
I am having some questions about the price I am getting paid from Aethon. The price I was paid from Chesapeake, PXP, and QEP was closer to NYMEX Natural Gas Contract Settlement Price than the price I am being paid from Aethon. The price I was paid for May sales was 1.25 and the price from NYMEX was 1.79. Can anyone tell me what they were paid from their producer?
Has anyone had payments decrease since Aethon bought their interest? I started out with Cheasaepke then PXP and QEP and all their payments were within one or two cents of the market price on the NYMEX, since Aethon has started paying their price is from 15% to 38% lower than those prices. The wells are in Bienville parish. The price I was paid in May was $1.25 and in April was $1.06.
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Replies to This Discussion
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Permalink Reply by Ringgold Redskin on -
Like you ..low sale price on gas and rest of check was taken for operational expenses.
On my last check they went back to early 2019 and back charged expenses and lowered payment. It would take a accountant to see if I actually made a profit. I had already filed income taxes for 2019 so a double whammy.
My well now shows BPX Operating Company from Houston Texas as owner so they have already sold some of the wells. You may want to check the SONRIS Data Portal to see if your well was sold too.
Rick -
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Permalink Reply by Skip Peel - Mineral Consultant on
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Just to be clear, RR. Aethon sold your well to BPX? Or was you operator BHP and they sold to BPX?
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Permalink Reply by Ringgold Redskin on
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My apology Skip, on looking back through old well reports this was the only well operated by PetroHawk not QEP. Aethon bought the well interest from QEP in February of 2019 and more QEP wells later. Sorry for the confusion, I was wrong on who operated couple wells and actually believed this well had changed owners.
Engage brain before running off mouth. I'll blame it on old timers disease!
Lebe den Tag - es könnte dein letzter sein.
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Permalink Reply by Skip Peel - Mineral Consultant on
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Vielen Dank. Wir alle machen Fehler.
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Permalink Reply by DNici on
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Yes, our price for gas decreased after Aethon took over wells from QEP. They market their gas different and apparently are charging for expenses related to moving the gas to the point of sale. Your lease determines where that point of sale is. Our lease specified that the point of sale is the wellhead. Their computer system was unable to handle paying us based on well production so they have to make a correction. Their computer system pays based on marketed gas. Read your lease because in order to enforce it they will have to go back and verify the lease terms.
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