you may consider starting a discussion on the main page to learn more about the specifics of withheld payments . some things are general as others may be state specific so be careful to differentiate the two.
hey james. sorry to hear you are not having any luck with xto. i have no idea why your production is not paying yet but i will say it is long past due. i believe before you get an attorney you should first send them some certified mail. it's called a demand letter. in the letter include ALL the pertinent information. this means a copy of your lease as well as identifying numbers for the producing well, the name of the unit, and also the location. county, survey name and number. in your demand be sure to account for some interest due for past due royaltys.
tell them you want all past due royaltys and 30% intrest. when it gets around to it they do have to pay you interest just not as much as you ask. something more like the average rate. the state mineral code declares they must pay you interest for past due monies. in the event you or anyone else you know signs another lease make sure there are provisions in the lease for dealing with late payments and penelty and interest. if in your current lease, there are no provisions for timely payment then there is not much you or an attorney can do but wait and write demand letters. on the very bright side of this issue is you are accruing a savings and it is compiling it self each month. what i mean is you are going to be paid on the interest. COMPOUNDING INTEREST. eventually it starts growing like a snowball going down hill. good luck, i will try to find out more about the length of time this could be allowed to go on in the states mineral code and will let you know if i learn anymore.
Hello! I hope the site is a place for you 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. Since then, we have grown to over 10,000 members.
As exciting as this is, we know that we have a responsibility to do this thing correctly. After all, we want the farm to remain a place where the family can gather for another 80 years and beyond. This site was born out of these desires. Before we started this site, googling "shale' brought up little information. Certainly nothing that was useful as we negotiated a lease. Read More