R.W. I was wondering if you could give me your opinion on this or anyone else that could help: Recently received check from pyramid wells. I believe the wells started producing in march 2013 and we recently received a check (our first one) with a statement showing royalties from wells starting oct 2013 till may 2014.
So my question is : what about production from march 2013 to sept 2013? Are we entitled to production from then as well? Or am I missing something? Thanks so much
The royalties are paid effective when the first sale takes place. Check into that info and verify first date of sale and that is when your RI payments should be effective. However, RW knows way more than me.
That makes sense. Thank you. I will do that..
Pam is correct. If you can look on the NDIC O&G Divisions website and see the first months production and "Runs" the runs are the sales. To get a specific date of first sales, you or someone needs to get into the wellfiles which are also on the NDIC site but requires a subscription. You could try to call the NDIC and ask them to look it up but on multiple wells that might be a little much to ask.
If you have multiple pages of statement along with your check, I would assume I was not paid for any months that were not in the statement, look carefully. Gas sales can run a few months behind so bear that in mind.
R.W. Thank you. I emailed our Division Order Analyst and asked about production from March 2013 to Sept 2013 and was told they would be reflected in a subsequent check. He apologized that they were not captured on this most recent check. Curious as to whether that was due to error or how they do things, but that's what I was told. Hmm..