Swisher 1H and 2H combined to produce 2,962,800 Mcf in 2014. Swisher 2H is a monster! Over 400,000 Mcf in one month- one of the largest I’ve seen…
On the oil and gas well search, if you have the API number, then use that. If not, just select “Doddridge” for county, and under well name, type the Unit name. It should pull up both wells in that unit.
My leases from Antero had a Gross Proceeds clause at the end- I’ve attached the text:
July/August 2013, Jacqueline. They added this amendment without my asking, as well as increased the royalty from 12.5% to 15%. One possibility- my uncle signed his a few months before mine, and he may have used an attorney that requested this clause. Antero, knowing we were related, may have included it as a matter of course
Jacqueline, I think (just an educated guess) that the post production costs are relatively fixed while the price of natural gas will (we hope) rise, so the proportion won’t be so high. Hope that made sense. I know what I am trying to say, just getting the words… haha
The enhancement clause is nothing more than the old post production clause. If you notice, they will deduct from enhancing the product. Making you pay for enhancing the product to get more money out of it is, basically the same as charging you post production costs. All they do is change a word here or there and you are back to square one. The paragraph is a two edge sword. As soon as they use the word “however”, you are stuck with paying.
Nancy, thanks and I hope so! This check is based on sales in July - December 2014 when gas prices were quite a bit higher ($4.22). Now the price of gas is considerably less. But it does seem like a pretty high percentage of the gross and I think I am stuck with it. Darin, I
Darin, I think they do try to make the same deal within the same family and even the same well if there are several families. It would be nice if they just made the same deal with ALL of us!
OK, so the Josie 1H and 2H wells produced a combined 2,410,543 Mcf of gas between July and December 2014. Using that 4.24 per Mcf that you mentioned before, that’s $10,220,702 for Antero. Multiplied by your decimal interest, you probably did very well!
Cross 1H and 2H combined to produce 2,299,714 Mcf in 2014. I’d say you’re off to a great start! Congratulations!
I couldn’t seem to make that site work. Obviously I’m not putting in the right information. Anyone know about Dukate Unit 2H?
Dukate 1H and 2H: No gas production in 2014. Probably just getting ready to fire them up!
Jim G, The company will almost never waive some form of you paying to get the minerals out of the ground and to sale. If you ask or request fair or better terms, they will call that, commercial unreasonably terms. That is what they clamed when they filed a partition suit against our family. We asked for cost free royalty paid at a determined location. So, if you don’t like the “best” offer they will just file litigation against you eventually. You would not believe some of the tricks they use to get their way. They also will only pay for the methane (gas) and not pay for the good stuff like, the ethane and butane and propane, etc. They are making tons of money getting those byproducts separated at companies like Mark West.
Does anyone know if our wells are producing significant amounts of NGL’s (natural gas liquids)? If so, are the royalties on the high side to compensate for the higher price of NGL’s vs. methane and ethane? What I’m calculating from production numbers vs. the current market price does not match the royalty I’ve been told to expect. Thanks!
Perhaps someone could answer this: does a bank have to report any deposit over $10k and if so, why? We’ve been told so, but we’re not sure about it!
First Division Order received today!!!- Ahouse Unit 1H and 2H. That thing was back in the mail so fast I probably could have ran down the street and given it to the mail carrier…LOL
Ancel, thanks!
Thanks so much Darin! I was on the road driving all day yesterday, so I am sorry to take so long to respond. I appreciate you looking up that info for me!
No problem Jacqueline! Any time!
Hi Jim G., per $10k deposits and bank reporting below - good question and thanks for asking it…
short answer ‘yes’ but it is per money laundering.
I 'bing’ed it and found good info in Wikipedia (http://en.wikipedia.org/wiki/Bank_Secrecy_Act)
"… requires financial institutions in the United States to assist U.S. government agencies to detect and prevent money laundering. Specifically, the act requires financial institutions to keep records of cash purchases of … more than $10,000 (daily aggregate amount), and to report suspicious activity that might signify money laundering, tax evasion, or other criminal activities.
in my work, I occasionally make a $10k deposit and I asked the question to the bank rep once and he said :“your fine”:…it is aimed at the business owner…I just put on the check ‘rent’ or (hopefully) royalty…I would not worry about it…
However, I have seen plenty of stories of the IRS ruining lives with this draconian push to freeze accounts of business owners - some depositing $9k frequently just to avoid this radar…but those were good honest businesses and the IRS beat them up…so do your own due diligence but I am not worried with it…their image is tarnished of late.
Congratulations Darin, I sent my first D.O back by carrier Pigeon, beats the mail.