"I own a small amount of minerals in 2-9-12, and apparently Vine did the commingling a few years ago.They drilled 5 wells, which are a mix of HA and Bossier wells."
Steve P's Groups
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Sabine Parish, LA
454 members
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DeSoto Parish
686 members
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Drilling Rig Locations
600 members
Steve P's Discussions
1099 NEC for working interest payments?
9 Replies
Started this discussion. Last reply by Skip Peel - Mineral Consultant Mar 1.
CHK and Section 1, 9N, 12W
1 Reply
Started this discussion. Last reply by Skip Peel - Mineral Consultant Jan 25.
Geothermal and the O&G Industry
4 Replies
Started this discussion. Last reply by Skip Peel - Mineral Consultant Jan 4.
Steve P's Page
Latest Activity
Steve P replied to Skip Peel - Mineral Consultant's discussion US Shale Drillers Are Ready to Weather Any Downturn, Kimmeridge SaysSteve P replied to Skip Peel - Mineral Consultant's discussion US Shale Drillers Are Ready to Weather Any Downturn, Kimmeridge Says"Skip: Is it correct to assume that for most of the S/2 of DeSoto that the Bossier is present, but also less productive than the HA? It seems that the wells being drilled are mostly HA"
Steve P replied to ShaleGeo's discussion What $9 Natural Gas Means for the Haynesville Land/Mineral Owner--My Top 10"maybe 35-12n-13w. CHK is drilling wells in 25/36."
Steve P replied to Skip Peel - Mineral Consultant's discussion Wave of new LNG export plants threatens to knock gas prices"Love that last quip from Mr. Armstrong! Unfortunately, he’s correct."
Steve P replied to Skip Peel - Mineral Consultant's discussion Drilling and Completion Set the Stage for Hydrocarbon Production"these are really well-written articles. Thanks for posting, Skip"
Steve P replied to Steve P's discussion 1099 NEC for working interest payments?"I've done some research on this topic. There is a Tax Court decision, confirmed by the federal courts, that holds that income by a working interest owner is treated as "compensation" and subject to employment taxes. The…"
Steve P replied to Skip Peel - Mineral Consultant's discussion U.S. Supreme Court declines to hear oil firms' appeal of coastal lawsuit ruling"Hmm, if the lawsuits are based upon violation of a 1980 State law, does that mean damages would only be payable for damage incurred since 1980?"
Steve P replied to Skip Peel - Mineral Consultant's discussion The Race to Debottleneck U.S. LNG Feedgas Routes"The logistics of all of this is fascinating to me, and the complexity is compounded by the fact that most of these projects are owned by different companies, but are completely interconnected. Exciting times."
Steve P replied to Steve P's discussion 1099 NEC for working interest payments?"well, right now I'm getting 8/8ths less operating costs, so I will pay the "employment taxes" if I have to. I do wonder what law firm spent the time to identify these small parcels that are contiguous to the leased premises and…"
Steve P replied to Steve P's discussion 1099 NEC for working interest payments?"This is going to tax (pun intended) my old brain, but we signed a standard LA O&G lease, and they all include the standard "Mother Hubbard" clause which extends coverage of the lease to any lands unintentionally omitted from the lease…"
Steve P replied to Steve P's discussion 1099 NEC for working interest payments?"your list is certainly longer than mine. I"ve sent an email to CHK. Let's see how they respond."
full name replied to Steve P's discussion 1099 NEC for working interest payments?"I have a similar issue. Several years ago CHK claimed that a few acres were not leased and paid as such. Could not get then to correct it until they needed something from me. They then realized it was leased to BPX, as part of the…"
Steve P posted a discussion1099 NEC for working interest payments?
I own land within an HA unit, leased, drilled and operated by CHK. A well was drilled in 2010, and I received royalties ever since. In 2021, new wells were drilled in this section. It was determined that there were several road R/O/W parcels that were not covered by the leases signed by me. The 2010 well has paid out, so in 2022, I started receiving payments for my “working interest” in that 2010 well. I actually disagree with the conclusion by CHK that the contiguous R/O/W parcels are not…See More
Steve P replied to Skip Peel - Mineral Consultant's discussion Diversified Energy Company raises US$163mln for new acquisition as it kicks off 2023 with a bang"Brookston Energy from East Texas seems to have the same model. They buy older wells which they say they can operate with their low overhead costs and make money when the larger companies can’t. Sounds like Diversified is…"
Steve P replied to M B Gilster's discussion RFI: MineralIQ from Enverus"WOW: great reviews by current managers. Let's see how this plays out. Is this a publicly traded or privately owned company?"
Steve P replied to Skip Peel - Mineral Consultant's discussion Bearish 2023 Gas Market Punctuates Last Throes of Shale Era Abundance"How quickly times change."
Profile Information
- How would you describe yourself?
- Landowner
- First Name
- Steve
- Zip Code
- 28704
- Plays that you follow
- Haynesville
Comment Wall (7 comments)
- At 15:44 on October 31, 2017,
Skip Peel - Mineral Consultant said… Steve, I will be meeting with the editor of the Shreveport newspaper to discuss the possibility of a series of articles highlighting mineral owner concerns. I am considering including the Comstock units with multiple expired well permits. It would be helpful if I could ask you a few basic questions. If you are willing to help, please email me at skippeel@gmail.com
- At 8:22 on January 27, 2016, Skip Peel - Mineral Consultant said…
Steve, I fully agree with your reply in the recent Dr. Fine/Robert Johnson discussion. I would like to point out that Robert Johnson is not posting out of interest in a discussion but specifically to increase the "web presence" of Dr. Fine. I don't know if he gets paid or not but the fact that he never makes a reply in these discussion threads and "favorites" each one indicates that he is just pumping up the listing of entries for anyone searching Dr. Fine on the Internet. Keith and I have discussed it and doing so isn't against the site rules and occasionally there is one or more members who do reply so Robert has not been banned from posting to GHS. I'm not a big fan of this kind of activity but it is common on the web.
- At 22:52 on October 4, 2010,
Linda Whatley said…
- Thanks for the compliment....... it's wonders what makeup and good lighting can do!!!!!!....... I'm married to Marshal Wayne Whatley from Pineville,La. We've been married for 22 years. My first husband was Willie Junkin from Delhi, La. Willie and I divorced in 1979, and Wayne and I were married in 1988.
- At 22:40 on October 4, 2010,
- Hi Steve,
I don't use Facebook that much either. .... How've you been?
- At 21:57 on October 4, 2010,
- Hey Steve,
Are you Whit Porter's brother?
Linda
- At 8:06 on June 10, 2009, Streetglide said…
- Good hearing from you Steve. Hope things are well. I guess I look at this as lagniappe. If it comes, it comes. Just a little extra. But if it doesn't, I'm okay. What part of California. I spent my Navy time in San Diego.
- At 12:45 on May 12, 2009, Steve P said…
- Hello! I hope the site is a place for to learn, network and contribute. My name is Keith and I started the site in June of 2008 to open up lines of communication between landowners. We now have over 10,000 members.
Check out current discussions at HERE.
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Keith "Haynesville"
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