DeSoto Parish - Does anyone know anything about Aethon?
Aethon purchased QEP's mineral leases in DeSoto Parish, Section 8 - Township 13n - Range 12w effective 1/1/2019. Since then I notice on SonRis Aethon shows no production for the two wells in this section for February through May. They do show production for June and July. It also appears the State of Louisiana is fining them and I guess it is for lack of reporting. I am leased to Chesapeake for these two wells and it will come as no surprise to anyone that CHK has stopped paying royalty. I am thinking about calling Aethon and asking about production but I thought I would ask you folks if you know anything about it first.
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Replies to This Discussion
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Permalink Reply by Dion Warr, CPL on -
Judy:
Aethon originally entered the Louisiana Haynesville with their acquisition of the assets of J-W Operating, et al in July 2016. They have been operating several hundred wells since that time. Any compliance issues cited on SONRIS could stem from actions / inaction on the subject well above or any other well(s) that they currently operate. Is it possible that they have not correctly reported production for the "zero" production months since taking over from QEP? Possible.
Irrespective of CHK's want or ability to pay, each lessor must look to its lessee for payment. If production was in fact zero, you will not receive any royalty payment for those months. If the reporting is in error, once the production discrepancies or identified, resolved and revenues and/or royalties disbursed to non-operators you should receive payment soon thereafter.
Contacting Aethon will not result in their payment of any royalties. As a CHK lessor they deal with CHK.
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Permalink Reply by l.l. desoto on -
Judy,
L Desoto
Your property backs up to ours. Did you recently sell you property?
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Permalink Reply by Judy McDaniel on
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We did sell our DeSoto mineral rights last year. We didn't own the property (the State of Louisiana does as they took took the property for I-49 but the State let us retain the mineral rights in perpetuity.)
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Permalink Reply by Martin Allain on
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Aethon seems to be evaluating all of their wells. You will not get any direct answers from their customer service from my experience. A year ago, I had some 30 wells on my statement, some with very low volume. Now, less than 10, I do believe Aethon is a good company and as they do what is best for Aethon we will benefit. The local management from my experience is great. Make your calls and see what you find out.
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