I am an unsigned mineral owner. Well was began October 2010, reached payout in August 2015. Have followed the progress of the well since its beginning through the quarterly reports.
As stated in the title, I received the billing statement today showing my net owner's share of expenses. The only date on the document is January 2015. It states that payment is due 15 days after receipt of invoice. Tried to call their office, but they close at noon on Friday's. Will call again Monday.
Information from you all would be appreciated.
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Permalink Reply by Skip Peel - Mineral Consultant on This response assumes you are referring to a Louisiana well. When asking questions it is always a good idea to include the state because often location is important to the answer.
UMI's are not required to pay well cost. By law it is deducted from their share of production. By all means follow up but don't be concerned.
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