Adjustments to revenue statemens older than 3 years by BPX
Is anyone else getting adjustments to their revenue statements that are older than the three year subscription limit from BPX?
Last month they adjusted the amount from September 2022. I sent an e-mail but have had not reply. This month they adjusted seven different months ranging from August 2019 to July 2021. The adjustments in total are too small to justify a demand letter (the last statement was less than a dollar in total). It is not all wells in a section just a few.
I want to make sure that this does not continue to happen. Should I send them an e-mail each time or wait to see if it happens again? Anybody have any suggestions?
Views: 5
Replies to This Discussion
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Oil & Gas ProPermalink Reply by Skip Peel - Mineral Consultant -
Question: Are the wells that are not adjusted "H" wells? Are the wells that are adjusted "HC" wells. Have you checked your statement decimal fraction against the unit survey? We went through a widespread adjustment period when the first HC wells were being drilled. I haven't heard any such complaint since that period. If you want to know your options and the possibility that you could prevail, spend a few hundred with an experienced O&G attorney. You should check your decimal yourself using the unit survey(s) first. You should also be aware that demand letters sent by mineral lessors or UMIs are almost always ignored. Operators pay more attention to a demand letter that comes from a known O&G attorney but are prone to ignore those also unless that attorney has brought suit against them and won.
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