Does anyone know if Continental Resources sold out in Grady Oklahoma? My checks have been going down since November or December
Continental is a privately held company (Harold Hamm family). The decline you are seeing is due to the drop in oil and gas prices in the last six months combined with the natural decline in production. The oil and gas prices have seen a slight rise over the last few weeks so you may see some differences in the next few months. Remember that your production declines over time as the reservoir depletes its pressure.
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@Kimberly_Neatherlin check how much they’re taking out for post production now vs before checks started to decline. Compare output then to now as well. You can also call Continental and inquire. That’s what we did. We’ve talked with a number of persons at Continental who are also questioning the much lower payments lately. They are looking into the issues.
Lower Oil prices are not enough to explain the severe decrease with no reduction in output at least for us.
Note the drastic decrease in gas prices in the last few months. Lower oil price is not the only reason. Last year had very unusually high prices. We in part of a more normal pricing regime now.
For my checks, Natural Gas has never been more then around $110 of my check.
Normal oil prices still would mean around $3000 in Royalties from the $130,000 in revenue but we’re getting 17 cents from that $130,000. There’s a severe issue. Again even the people we’ve talked to at Continental recognize something’s not right there so they’re investigating.
Always best to send a certified letter return receipt with your owner number and well name number and ask about sudden drops. Then you both have a record of your request.
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