What Price Are You Getting for Gas? Last Update: March 25, 2011

Hello Everyone,

 

Here are the latest numbers.  If anyone else wishes to participate and provide data for my survey, please follow the instructions below.  I welcome all data.

I am now asking each respondent to provide me the following:

Section/Township/Range -- everyone (if you are in Texas, tell me your county, and the survey)

If you get your check from Chesapeake, please tell me:
Price received (before severence tax)
Does your lease entitle you to cost-free royalties?

If you get your check from one of the others,  please tell me:
Company you leased to
Company who is operating the well
Gross price
Please tell me each deduction, and the amount.
Net amount (before severence tax).  [I know, gross minus deductions ought to equal net, but I just want to make sure.]
Does your lease entitle you to cost-free royalties?

If you are WI or UMO:
Company operating the well
Gross price
Please tell me each deduction, and the amount.
Net amount (before severence tax).  [I know, gross minus deductions ought to equal net, but I just want to make sure.]

Please send me the information via GHS email.  This discussion is getting too large, and sometimes a post gets lost if I don't check in for 24 hours.  All info will be kept confidential. I will continue to post back what I learn periodically. Thanks in advance.

Tags: Are, Gas?, Getting, Price, What, You, for, payments, royalty

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Permalink Reply by DrWAVeSport Cd1 on December 6, 2011 at 10:52

W.R.F.

Actually, I have posted "redacted" info on GHS.  And, at some point, more will be coming.

I am in total agreement with you.  However, all the "ducks" have to be set in a row first.

DrWAVeSport Cd1 12/6/2011

Permalink Reply by DrWAVeSport Cd1 on December 6, 2011 at 11:17

W.R.F.

CHK lists "PURCHASER" of 100% of NG is "CEMI."  100% of the time.

CHK lists NO "3%" CEMI 'Marketing Fee' on any itemized Quarterly Statements I have received.

If you are correct, CHK has some explaining to do...IMO

Permalink Reply by Ben Elmore on December 6, 2011 at 11:30

Doc,

They charge a 3% marketing fee.  I've got it in an email from a CHK rep. stating: "Under its gas purchase contract with Chesapeake, CEMI pays to Chesapeake its resale proceeds, less costs incurred by CEMI to gather and transport the gas, and less a 3% marketing fee."  Of course, I am sure they will say they do not pass that marketing fee on to royalty owners or UMOs, as they have told a couple of royalty owners who have contacted me.  Until someone decides to take them to task on it, it will be difficult to find out for sure what they are doing.

Permalink Reply by w.r. frank on December 7, 2011 at 1:12

Dr.

You see things on your quarterly UMI report that ROs do not see on monthly royalty checks. For example, no purchaser is shown on a royalty stub. However, CHK has furnished information indicating that CEMI is the purchaser, and that CEMI's 3% marketing charge is deducted from WI owners, but not ROs.. I believe nothing that CHK says. The truth will only be revealed in Court under oath when a RO or UMI has had enough. 

Permalink Reply by The_Baron on December 6, 2011 at 5:41

Dr.

 

My take from the limedted veiwpoint of comments I've read is it would depend on how much you value your time and how you could have made the money you would have received if you had leased work for you.

 

I guess its a gamble either way...

Permalink Reply by Henry on December 6, 2011 at 13:25

Dr,

Any legal "fight' against CHK will be one of the most painful things you can do.  They are the masters at pulling stunts during lawsuits, dragging things out forever, and knowing how to undermine the little-guy opposition.  Think long and hard before you try to "fight' them.

Permalink Reply by Henry on December 5, 2011 at 13:45

DrWAVeSport,

So you actually reached payout with CHK?  Really?  Wow.  I've never seen that happen before.  Congrats.

Permalink Reply by The_Baron on December 6, 2011 at 5:42

I have heard of very few cases reaching payout. I will say CHK operates the tar out of you.

Permalink Reply by DrWAVeSport Cd1 on December 6, 2011 at 10:46

Baron,

CHK makes it into an art form!   CHK charges are obscene IMO. 

And CHK has the $#$**(&&**&%$  to say their gross margins are 80+% (on the dollar). 

That's the real kick in the CHK mineral owner's face.  How do you think CHK does that Baron?

CHK can't do it with cheating the UMIs alone...  They have to be $%**^&** their royalty owners even more.  Again...My Most Humble of Opinions.

Having that CHK cake and eating it too....May be just the evidence we need.

A Wonderful Holiday Season to you and yours, Baron.  And ALL appreciation to you for your help and input.

DrWAVeSport Cd1 12/6/2011

 

 

Permalink Reply by DrWAVeSport Cd1 on December 6, 2011 at 10:34

Henry,

Yes.  Payout reached sometime in Sept.  However, still not counting any CHK chickens yet...

Funny thing though...CHK filed with the State of LA that well "payout" status was reached Feb. 2011 per severance relief program.   Who really knows which "payout" is the truth.  I can see that the Feb. 2011 "payout" date CHK used BENEFITS CHK!!!!!  AND...The Sept. 2011 "payout" date CHK used (per moi) BENEFITS CHK TOO!!!!! 

CHK having their cake and eating it too...

Henry, the fight has just begun...

Merry GHS Holidays to you and yours...  Thanks again for all.

DrWAVeSport Cd1  12/6/2011

 

Permalink Reply by Henry on December 7, 2011 at 0:49

Note to all -- I plan to update and publish new pricing data later this month.  Please send me your data.  You may wonder why I don't publish my data more often.  Well, it's simple.  In the interest of remaining anonymous, I need access to a different computer, where the files cannot be traced to me.  (Call me paranoid, but one never knows if one will have to deal with CHK in the future.)  My computer is a work-supplied computer, and it stamps my name on all files I create.   I have gotten tired of going to libraries, and the like, to use their computers, and they never have the right Excel software anyway.  I will have visitors over the Christmas holidays, and I'll borrow a computer, and upload my data from there.  So, please send me your data, if you haven't already.

NOTE:  Please don't post your data in this discussion.  Rather, please send it via GHS email.  That way I am sure to see it.

Permalink Reply by Pam on December 7, 2011 at 2:44

Henry,

Thank you for the time, effort, and risk you take!

Pam

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