SO…I’m frustrated and thinking about selling. I signed on with both Antero and JayBee. I get monthly royalties from Antero, but hardly see anything from JayBee…not bad mouthing. Antero was great in the beginning. I negotiated for a higher bonus to sign on and a higher percentage of royalties. BUT NOW, THE TAXES ARE KILLING ME. I AM PAYING MORE NOW IN TAX ALMOST VS ROYALTIES. Any good advice? Thank you.
It is frustrating at times. Your payments will be according to your net acreage and your royalty amount and what wells go into what reservoirs. Different companies will have different contracts for pricing. I am guess that you are in West Virginia, by the companies named. WV has tax appraisals that may be behind the times with current prices and I seem to remember that they have a minimum tax value. Read the West Virginia postings on taxes.
JAY-BEE is currently in a class action lawsuit and owe $42-43 million dollars to close to 4000 people that they took out deductions that they weren’t supposed to. JAY-BEE is terrible to deal with as far as getting answers from and let alone the truth. We have wells that have been in production for 18 months and have yet to receive division orders let alone a single penny from these wells.
What are the names of the wells that Jaybee drilled on you?
Gas drilling company and royalty owners announce $42.6 million settlement - WV MetroNews
Thought this might be interesting.
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