Replies to This Discussion

Permalink Reply by ALongview on November 30, 2008 at 11:09

Depending on how long your bank took to get the draft to the paying banks collections you could still be right at the 30 days by my calculations. Sometimes it takes a full week to get the draft to the paying bank after it has gone through collections. Also, you can't count any holidays as banking days. Have you recently talked to your bank or have your bank contact the paying bank and find out

Permalink Reply by ALongview on November 30, 2008 at 11:11

You should also check to see if they recorded the lease.

Permalink Reply by Leepfish on November 30, 2008 at 14:52

We processed a Devon 30 day draft on 9/24/08. The funds did not appear in my acct. until 11/10/08 at midnt.
My bank was able to give me a date from Devon's bank's Collection Dept. My draft was drawn off Amegy, Houston. Hope that might be of help to you...

Permalink Reply by CS in TX on December 2, 2008 at 4:44

Our draft was from Amegy out of Houston too. Though we still have not been paid, we where told that everything (whatever that is) will be done by next Friday and should be paid by then.

FYI: They also said that they where finishing up all the leases that where signed in the mad rush and starting in January where going back out in the field to sign up more people. For those of you who are interested contact the Devon office in Center Texas. I do not know what the going price/acre that will be offered, did not ask.

Permalink Reply by ALongview on December 2, 2008 at 8:10

CS in TX, That is good to hear that things should be good to go by Friday. Be sure to update us when it happens. Also good news to hear that they will be going back out for more after the first of the yaer.

Permalink Reply by Leepfish on December 3, 2008 at 11:06

That is good news!! I know our title work got complicated. Part of our acreage had originally been in six pieces so they had to do title search on all those separately to be sure there were no other claims on minerals. Maybe "everything" is your title work? At any rate, please let us know how it all turns out!

Permalink Reply by Charmine on January 15, 2009 at 14:53

Do you know the number for Devon in Center. I never got a response when I emailed Devon landman. Thanks

Permalink Reply by jh67 on January 31, 2009 at 8:03

I had a land man call for Devon and he gave me an office number of 936-854-2760. Not sure if this is the number you are looking for though.

Permalink Reply by CS in TX on December 28, 2008 at 15:30

ALongview and Leepfish and others who have not been paid on their drafts so far. Devon Energy came. We have 6 family members on 1 tract and Devon has paid all but 1 so far. Our draft was due to expire on Christmas Eve, so first thing that morning I turned on the computer to check my bank account. No increase BUT a few hours later Fed Ex arrived with a check from Devon. They paid on the last day of our draft which was 35 banking days. Bonus was $5000/acre and 25% royality. For those who are still waiting, good luck and think positive.

Permalink Reply by intrepid on December 29, 2008 at 3:42

Glad to hear you were paid. What part of Shelby are your minerals in?

Permalink Reply by CS in TX on December 29, 2008 at 3:45

Emily Irish which is between Timpson and Center.

Permalink Reply by Leepfish on December 30, 2008 at 9:21

Actually my draft did fund back on 11/10/08. We had exact same terms as CS. Just wanted to make sure everyone knew Devon had honored it perfectly, so others wouldn't be nervous...

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