I just noticed that our last check from Daylight for interest in Alliance Trust A 1-35 well in Grady county includes production on oil & gas going as far back as 2003. Any idea what would cause this and should we be getting paid interest on payments withheld for such a long term?
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Daylight bought a lot of wells from other companies over the years. It is very common to have periodic audits and make corrections, especially with gas. NARO (National Association of Royalty Owners) had an excellent recent webinar about the reasons for such audits. It is available on their website. Free for members, a small fee for non-members which is refundable if you join.
I noticed that I had a big adjustment in one of my Daylight statements that fixed some wells for several years. They were ones that had been bought. I cannot answer the interest question as I haven’t had time to look into it.
I’ve looked everywhere on the NARO website and can’t find the webinar list. Can you send me a link please? I’ll look at well names on my check stubs and then contact Daylight directly to confirm if necessary. Thank you!!
Nevermind. I just joined NARO and now found the members only section. Thank you!
Great, glad you joined. All of the webinars are free to members. The national convention is next week in Oklahoma City. There will be classes on Mineral Rights 101, talks from knowledgeable speakers on law, activity, bitcoin mining using gas, networking, etc. The program is listed on the website! Hope to see you there!
Daylight bought that well from Merit back in 2018. It was drilled in 2003 by Anadarko, sold to Merit in 2005 and sold again in 2018.
Thank you for the historical info on the Alliance well. Unfortunately, I can’t make the convention. I live in Italy and had hoped to be there. However, family matters had me in OK for several months but now I have to be here. I wish there was a way to link up virtually. I’ll check next week to see if they put anything online.
Glad you are safely back in Italy, one of my favorite countries!
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