Royalty reporting evaluation on top gas producers - Discrepancies!
You can review this letter report to the NARO Board of Directors [National Association of Royalty Owners] as part of a "Gas Marketing Accountability Project (GMAP), on the top producers. It gives details, and states that these companies used affiliates and reported to stockholders profits "actually 16.21%" higher than what they reported to the royalty owners. It is prefaced by the NARO Board's statement that the information should be passed around to royalty owners. I agree.
http://www.naro-us.org/index.cfm?pageID=4&rnm=0.0846311627709
download the 10k report
http://www.naro-us.org/webmanage/fileManager/files/GMAP%20Expert%20...
http://www.naro-us.org/index.cfm?pageID=4&rnm=0.0846311627709
download the 10k report
http://www.naro-us.org/webmanage/fileManager/files/GMAP%20Expert%20...
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Permalink Reply by mooncookie on -
They are ripping the royalty owners off!
It will take a lawsuit where financial records are shown that prove they don't pay what is agreed upon (they also 'short' on market value of gas sold, sometimes fail to lease all affected parties on wells, and charge roughly 10-15% in "other" which is a divided cost among royalty owners).
When someone gets mad enough.... things will change.
As things are hectic and the market is in flux, now is a good time to catch these greedy weasels with their hand in royalty owners cookie jar... remember they don't ever own the minerals they exploit, they pay for a concession (leases)! -
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