Chk to start deducting "some" costs from royalty cks/post production costs/Texas/Star-Telegram
If previously posted, please disregard...
http://www.star-telegram.com/2011/08/10/v-print/3282702/chesapeake-...
So kind of Chesapeake..."they will not be retroactively assessed any charges for post-production costs that the company incurred before its policy change." (Let's just all sit down tonight and write Chk a nice "thank you" note.)
And, how neighborly of Chk Senior VP, Henry Hood to throw Total under the proverbial "it's not our fault, it's the other guy's" BUS...or...golly-darn nabbit, it's toooooo hard to write twooooooo checks at one time (by hand, I'm sure)... It just makes me want to sit down and cry for the poor Chesapeake fella. What a crock!
"...will likely see their royalty checks slashed by roughly 25% after the company deducts expenses associated with post-production, such as gas gathering, compression and transportation."
What's Left???? The Envelope?
DrWAVeSport Cd1 8/11/2011
Tags: barnett, checks, chesapeake, post, production, royalty, texas
Views: 3067
Replies to This Discussion
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Permalink Reply by Kat Bloomfield on
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BINGO! gosh dog it. I've written several lengthy replies, but keep accidentally deleting because I'm using a laptop with one of those mini mousepads and my palms rest so well there.
Anyway, it's a thick read and has a slant, but is an article worth studyiing.
To add to your points, I reference http://dnr.louisiana.gov/assets/OMR/media/2011/pdf/SR_Report_Instru...
If this information can be (and is required to be) provided to the stsate on its leases, is it so "impossible" or onerous that there be a public database for ALL leases? Really? NOT HARD!!
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Permalink Reply by DrWAVeSport Cd1 on
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Just to gild the Chk lily: "Free Gas----For Drillers" Found in FW Weekly 8/10/2011:
http://www.fwweekly.com/...id=490:free-gas--for-drillers&catid=...
Watch out, for those of you on GHS who are outside the Haynesville Shale Area, and dealing with Chesapeake, or any other O&G Company. Legal notices can be used to aid O&G Companies in "gilding their lily," so to speak, especially when attempting to "HOODwink" the mineral owner. Be aware.
However, this article strictly deals with the Chesapeake Boys and the publishing of legal notices in "little-known" or unknown "newspapers," e.g. the "Commercial Recorder."
Why didn't/wouldn't/couldn't Chesapeake publish this info in the "Fort Worth Star-Telegram?"
Point made.
DrWAVeSport Cd1 8/26/2011
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Exception: This article also deals with the Texas Railroad Commission's "HOODwinking, decision-making blindness too.
try:
http://www.fwweekly.com/index.php?option=com_content&view=artic...
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"CEOs Get Paid Extra to Stiff the Taxman - Outrage" written by Glenn Hall/The Street
"...Among the worst offenders...
Aubrey McClendon at Chesapeake Energy (CHK) received $21 million in compensation while his company paid no taxes at all..."
http://www.thestreet.com/story/11235596/1/ceos-get-paid-to-stiff-th...
Guess Mr. McClendon has a "no-deduct" contract with Chesapeake. LOL
Wonder what he and the "Friends of Aubrey" Club made off the other "insider" deals over at Chesapeake, e.g., MLPs, overriding "Royalty Trusts," GIP (Global Infrastructure Partners/former Credit Swisse Execs), Chesapeake Midstream Partners, McClendon's 'Working Interests' in wells aka FWPP (Founders Well Participation Plan, since 1993) at 2.5%, etc., etc., etc.
This speaks for itself...
DrWAVeSport Cd1 8/31/2011
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Let's hope Dallas Fed Advisory Council Member, Deborah Rogers is wrong:
"Natural gas: Shale firms' balance sheets raise 'red flags'"
http://www.csmonitor.com/Business/Latest-News-Wires/2011/0628/Natur...
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"When the balance sheet of a corporation does not capture the true costs and risks of its business activities you end up with them privatizing their gains and socializing their losses." --Nandan Nilekani
Any Energy Company come to mind?
DrWAVeSport Cd1 9/7/2011
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Permalink Reply by Robert Fitch on -
I have a royalty interest in the David Renfro A-181 survey in Sabine County, TX. CHK is drilling a well in that survey but not in my part of it unless the horizontal is drilled in my direction. I have been calling CHK several times in 2 months to find out info and have left messages and E-Mails but have received NO RESPONSE. My impression of the company so far is VERY NEGATIVE so I am not surprised they would try to cheat the royalty owners. My cousin, who lives in San Augustine, TX and is familiar with CHK told me they have a bad reputation in the field. I believe it!
Robert Fitch
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