Has anyone had any dealings with Formentera Operations out of Austin, TX? A few months ago they took over operations from a previous operator on some of my leases (with producing wells) in Texas. I’ve been trying to contact them by the phone number and email address that they listed on the one piece of correspondence that they sent to me as way of introduction. Their website gives the same phone and email address.
Since March 4, 2024 I’ve made about 6 attempts to reach them via email and phone (and giving my contact information and Formentera owner number each time) and have never heard back from them.
Anyone have any experience dealing with them as a mineral owner? Any insights into their organization, reputation, etc?
@jdub, I have had a good experience with Formentera. My understanding is that they were formed by some of the main people from the former Parsley Energy. They seem like excellent people. Like most places, the transfers did seem to take some time, but everything was done correctly for us.
Dee … I first contacted Formentera in early March with questions that included setting up Direct Deposit. I called multiple times (could only leave a voicemail) AND sent multiple emails to the phone # and email address they listed in their “Welcome to Formentera” letter I had received. After 6 weeks of no response I sent yet another email with subject line of “Why is Formentera not responding to Owner # (XYZ)” and received an email response within a day, saying they have been overwhelmed with inquiries. After finally receiving a response from them, the person I dealt with (via email) was helpful and provided prompt responses during our subsequent email exchanges. With my questions answered, I’ve now submitted the paperwork for Direct Deposit and am waiting to see if it will be implemented in their next royalty payment cycle. Good luck … hope this helps.