Just received notice that Alta Mesa is being granted inital chapter 11 status. Any thought as how this will affect royalties payments etc. in this area?
The Chapter 11 bankruptcies do not usually affect royalty payments. Just got my check as usual with no delay.
Bankruptcy will have no effect as the royalties, by statute, don’t belong nor or they apart of the assets of operators.
haven’t posted on here before. have received several letters in the mail about alta mesa bankruptcy don’t know weather to get a lawyer. even received letter about being a debtor and wanting me to fill out info. could we lose our lease or rights if we don’t act on this or get a lawyer? as owners of rights what are we facing? has anyone else got these letters or even hired a lawyer to protect there rights? if so please share as this group is all some of have for guidance. please lets talk keep everyone educated
You don’t need to do anything. Nothing happens to your lease. The minerals owners still get paid.
What about lease agreements? I have the same bankruptcy notices regarding Alta Mesa Resources. Yesterday I received a Proof of Claim form to complete. I imagine we should send this form back.
Your lease will not be affected. Either Alta Mesa will reorganize or all their interests will be purchased by another company. There is no need to send in the Claim form as you are not a debtor unless you have provided goods or services to them for which you have not been paid.
Todd is completely correct, you can trash or file all those papers. I get the same thing, received both yesterday. We went through this with Linn Energy last year. If you are getting royalties they will continue.
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Hello. I’m glad I found this site and post. We inherited a land interest in kingfisher county and received similar letters. My understanding from this post is we don’t need to do anything since we aren’t a creditor of Alta Mesa and just own an interest in a parcel of land in the county. Is that correct? Thanks in advance!
Correct, you don’t have to do anything. If you are receiving royalties they will continue as usual.
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Thank you John! I appreciate the response.
Can Altamesa trustee demand payments back on royalty interest during preference period