Person from OKC Contango office returned a text I sent on Sept. 19th asking when monthly payments would be posted. They said by the 26th. Nothing has been posted to date,28th, anyone have any info. Our wells are in Payne County.
We have received no payments on our wells also. My correspondence with them last month said they were having problems with conversion of their software from White Star Petroleum. With prices as low as they have been I would not be surprised to see them shut-in some of their wells until prices recover. Ron N.
I have several producing mineral interests for wells operated by Contango, previously White Star. I am getting paid. Make sure you have the minimum royalty amount to be paid on set to $25.00. Otherwise they will hold your revenue until the amount due is $100.00 or greater. Their direct deposit usually hits my bank on the first week of the month.
Todd, We have 7 wells in Payne County. 4 of them are very small amount, but 2 are large. Will try to talk to someone tomorrow. Thanks, James C.
Check your accounts. Looks like they may have released payment as of 10 am 10/6
I text OKC Contango office Wed the 30th of Sept. They replied that payments are scheduled to go out Friday, I presume she meant the 2nd of Oct, but nothing has been posted. As of now they are 3 months behind on payments, including the 2 month lag from time oil/gas is extracted.
Got my revenue so you might make sure, in writing, that they have your correct address, banking info if you use direct deposit.
Hello Todd, I also have late payments with Contango. Last payment was for May production. I have also been in contact with Contango through email, and I am getting same story as others. Having problems transferring over from White Star, checks will be out this Friday etc… My question is, are there any laws on how far behind can a producer get in payments before any sort of interest kicks in? My interests are in Garfield county, but the nature of this chat being about late payments from Contango I posted here. Thanks
I’ve not checked recently but as of a few years ago, interest of 12% kicked in when payment was made any later than two months after the production month. Lots of luck collecting.
Your lease will be the governing document. If you were force pooled check w corporation commission.
The lease has nothing to do with state statutes.
To be fair, I received payment for June production on Wednesday 10-7-20. Still seems behind at least a month, but glad to get paid. Their revenue inquiry response is great compared to other producers I’ve dealt with in past.
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