We own royalty interest in several properties in Pittsburg County. BP America is the operator. The last payment we received was in May 2018 for March production. I’ve checked production records on http://www.occeweb.com and there was normal production volume for these properties in April and May. However, we have not received our royalty payment as of yet for this production.
BP normally pays on the 20th of every month.
Has anyone else experienced this with BP in the past two months?
Thanks MW
Yes. I have. I suppose there is simply less than $100 to pay, so they roll it into the next month’s payment. This has happened to me several times this year, for the first time ever.
I finally received a response from BP’s royalty group. They made a second payment in May on 14-4N-12E. It was a duplicate payment that went out. They said it would take 2 payment cycle to recoup the overpayment. I should get royalty payment starting back up August 20.
It is questionable if their explanation is valid?
MC-look at the sales volumes reported on the “over-payment” check and verify that number with the sales volumes reported to the OTC (Oklahoma Tax Commission) for that month. You have to look at the sales month to compare the volumes, not the date of the check(s).
It might take a couple of months for the OTC to put the information on their web site.
If the reported volume to the OTC is 1/2 the amount shown on the “over-payment” check skirt, it is probably OK.
Payment resumed this month after over-payment was recouped. It took 3 months production but I was able to verify their volume statement with the OTC database. Of all the operators I’ve worked with, BP has been very honest with their explanations and calculations. Thanks. MW