It has been 6 months after production and no check? When does interest start to incur. Do I need to send a letter of some kind to the company? My company was Lonfellow Energy and was purchaed by SK Nemaha. Anybody know much about them? Any information would be greatly appreciated. GW
You already received and signed a division order I presume?
The statute is six months after first sales, not production. If the date of first sales misses a company’s check cut date, it could slide a week or so. However, if it has been six months after first sales, I usually call, email and send a certified return receipt letter (all on the same day) and document the day that I requested payment and remind them of the statutory requirement to do so. Some companies “forget” until I remind them. If you have not gotten a Division Order, then call the Division Order Analyst at SK Nemaha and see if there is a problem with your title. When companies pass operatorship, paperwork can get slowed down. Document all your requests. Just in case…
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The standard answer from Chaparral and Nemaha after the deadline is "The attorneys are working on division orders"Yes the statute is Production Revenue Standards and Royalty Owner Protection Act. (52 O.S. 2001 Section 570.1) 26 pages if you download from internet.Quote this to the oil companies so they know that you know the law! They tell me that they have royalty payments from one dept. and interest payments from another.Stay on their butts!