Don’t panic folks: If one was to read Antero’s 1st quarter report, the report reads: Antero expects to defer 50 well completions in the Marcellus into 2016, reduce the drilling rig count from 21 to 11 rigs and reduce it’s completion crews from 10 to seven, that pretty much explains the lack of activity in the Marcellus areas. Highway 50 included. I believe they will be back in 2016. ALSO, i have signed 4-leases with Antero THIS YEAR, why would they be leasing if all was lost??
Arnold…hmmm, perhaps I should call Antero back…her quote was “it really isn’t a lot of money…”
Hi Jacqueline, Just now reading your comment from yesterday with more attention (haha) “I guess I was thinking that the post-production costs would mirror production, or be a more constant percentage. Because the costs not only include transportation, they include 2 codes for compression, 2 codes for gathering expense, and fuel charges. As to the math…I’ve gotten better at it since I started with all this! Laugh! Thanks to you both for weighing in.”
I think compression, gathering, and fuel charges would also be relatively constant compared to the price they receive (sad face for current price).
This could also be explained as producing a bigger proportion of overall expense when the price is down.
Hope somebody else has a clearer idea on this. I am speculating.
Stephanie and Nancy, thanks. I guess I my have to go there and check it out. On the paperwork we received it says “Lease.” But the only things I could find for book 20, page 71 were some wills and such.
Jacqueline- and others I may have made paranoid about their royalty check- not all wells are producing oil. The ones I have interests in are producing oil, on the order of 500-1000 barrels a month (which isn’t much at 30 bucks a barrel :(). Anyway, if your wells ARE producing oil, then the royalty for May 1may only be oil- the gas portion will come next week. If you’re not producing oil, then it’s same as usual! Antero is changing accounting systems so this month is screwed up for some. Sorry for the confusion!
Darin, thanks! No paranoia! LOL The wells I have produce about 3-4 times a year, according to the production numbers. I think this may have more to do with market conditions than anything? The gas production is massive, but they will probably ratchet that back too.
Nancy- thank you so much! I guess I was thinking that the post-production costs would mirror production, or be a more constant percentage. Because the costs not only include transportation, they include 2 codes for compression, 2 codes for gathering expense, and fuel charges. As to the math…I’ve gotten better at it since I started with all this! Laugh! Thanks to you both for weighing in.
Thanks again, Nancy!
Probably a little of both. Drilling will pick back up once gas prices start going up again. Also, if you look on the WVDEP map, Route 50 is pretty much crossed uniformly with horizontal wells.
Anyone have advice on how to track down any possible funds that may be in escrow somewhere for royalties that may have lost track of the rights owners?
Good information Arnold!
As info, last Thursday I received a rather nice deposit for a Unit that had been producing since August 2013. Thank you Antero. I also received a very small deposit for another unit, but only the oil royalties. Well, yesterday, I received the gas part of those royalties. Antero told me that they changed accounting systems, so that’s why the delayed payment. Just wanted to let everyone know that the royalty constipation appears to have abated, and we are flowing once again 
Received a copy of the Doddridge Independent newspaper today and despite the cut back in drilling rigs Antero has applied for applications for 18 new horizontal wells. They are as follows:
“Warrior” 1&2H," Smithers" 1&2H, “O’Donnell” 1&2H," Manzarek" 1&2H, “JAY” 1&2H, "Doak"1&2H, "Rainer"1H, "Goldsmith"1H, "Cobra"1&2H, “Mossor” 1&2H.
Good News Arnold! Thanks!
Jim, these are the numbers for the WV unclaimed property: 304-558-2937 Toll Free: 800-642-8687. Hopefully, they can help you!
WV%20Tax%20Clarification%20and%20News.pdfThat is interesting Stephanie P. In 1999 we approached the tax office and asked them to create tax tickets and bill the owners of fractional shares of mineral rights that we were paying in total. They refused and said without a valid address and owner they would not do that. To this day we pay mineral tax on the entire acreage even though we only own 75%. I have attached a document from the State Auditors Office from 2006 when clarification was needed on certain tax issues. I think you will find Section III number 2 interesting.
Jim- I have no idea how to track down these funds, but if anyone can find something, Nancy Mosley can!
Thanks for the vote of confidence, Darin! I think I remember that the WV State Auditor’s office handles this. Try searching for that.
Well, today, I called the State Auditors office. Here is an interesting tidbit of information.
Anyone, without recording who, can request that something be “put back on the tax rolls”…and they do it! I asked, "Don’t they have to prove it was ever on the tax rolls in the first place? She said, “No, because it may never have been.” Ultimately, if the state/county can get revenue from it, they are going to. Wow! What a loop hole for those who are stomping around looking to purchase mineral rights.
Stephanie P, that is quite astounding!! Time to contact the WV legislators. This is worse than forced pooling, if it hits you.
WV Blue Thank you! I will sit down and digest tomorrow. =) They had an invalid address that was 38 years old for someone who has been dead for 28 years!
Just wondering also if anyone has heard of any drilling in McClellan District in Doddridge County, the unit I was told my Antario was BANNER /TABOR (SP) units? I was told they were shooting for July of 2015, but just wondering if anyone on here has heard anything on these wells. Thanks!!