Finally got our first check! Woohoo!
Darin…I got my check about a month after I sent the signed DO back. Jim…WooHoo!!! It’s kind of other-world, isn’t it? Laugh! Seems like it will never happen and then it does! Congratulations:)
Jacqueline, yes it is good to finally have the waiting pay off!
US is World’s #1 gas producer…Thanks to Fracking 
http://news.yahoo.com/us-worlds-largest-oil-gas-producer-2014-21550…
Congratulations Jim! Just sent back my second division order! Three to go…
Does anyone have any information on the ANTERO well they are to be drilliing in the Mclean District and the well will be BANER and TABOUR, I think in the spelling. Thanks!!
LOVE that!! Keep Calm and FRACK ON!!
Is there any drilling yet in the Greenbriar Prospect? Includes the Conley and Snake Units.
As far as I know, all we ever received were modifications, no new leases that I know of, but I was not originally involved enough until I realized I should be!
Tax decission - do you use Schedule C or D to report royality income??
Thanks for the other very helpful info presented in this blog
And where do we take the 15% Depletion Allowance some one told me to take?
OK, we were just contacted today by EQT wanting to get us to sign off on a modification to drill horizontally. The drilling will be near Meathouse Fork. Our acreage is 165, with a net of 49 acres. Our interest is 3/10s (anyone know what this translates to in decimals?). He offered $19,800! I am thinking we might be in good shape to negotiate much more. what does anyone else think?
Congratulations on getting checks back! That’s great!
Would any of you mind letting us know how much per acre you’re getting in royalties? And your royalty percentage? And whether you are getting gross or net? It would be ridiculously helpful to those of us who are negotiating leases. Thanks in advance if you do share.
Yes please share what you can. I echo Kyle’s sentiment. Maybe create a fictitious name if you want to be anonymous!
Buck, I am not an accountant, but I use TurboTax, and Schedule E is the place for royalty income. It is also the place for bonus payments (no depletion for that). Working Interest income goes on Schedule C.
At least that is how I understand it.
Buck, I have been using a CPA for years (same guy) he has not got me in jail yet. We use Schedule E for royalty income, it’s also a place for bonus payments.
Does anyone else feel like this is a never ending up hill battle? I just lose track in everyday life…and then feel racked with guilt that I neglected it for a while.
Stephanie: I hear ya, sister! Couldn’t agree more. This forum is my lifeline and encourager!
Thanks Robin.
So, Nancy, all these legal fees, maps I pay for etc, will come off the capital gains I have to pay on any royalties I might never see. =) Sorry, sarcasm is the word of the day. lol
We’d also appreciate any input as to what we should be sure is in the contract!