I signed a lease with Nichol River for 75 acres Tyrus A-870 that they received on 2/29/2023. That has been 9 weeks, and I am yet to see my bonus check.
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That’s the reason when you sign over a lease, you at the same time immediately receive a signed check in hand…Nichol River is now (possibly) looking for someone to flip/sell your lease to…
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Call them and demand your money.
Same here. First they said 30 days. I checked with the landman and he said they were cutting the check at the end of May. Thats more like 45 days.
These are examples of why it is important to NEVER send original executed legal documents (oil and gas lease) without getting payment at the same time. Minerals are real property, just like your house. You would not give someone a deed without being paid. Let the lessee complete all title work and then exchange the lease for the bonus money. Also, do not simply call as that is not evidence of the situation. Send an email stating that you have not been paid and that it has been over 30 days and you either need your bonus money or the return of the unrecorded lease.
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By the way, Nickel River Royalties primary business is buying and selling minerals and royalties. If they are offering you a lease, my guess would be that they are looking to flip leases to an E&P company.
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If the company is Nickel River Royalties, there was a discussion about them recently:
https://www.mineralrightsforum.com/t/whos-this-company/70439
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Nickel River’s phone # 888-448-8649 Also Google their website and you can see, somewhat, of what you have been dealing with. Try to get your lease back asp.
Also, Nickel may be trying to sell your lease to someone else instead of paying you first. Always try to know who and what you are dealing with. Good Luck!
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Thank you for helping me understand at least a little of what is maybe going on with my situation. I really would like to get my signed lease papers back. When and if I do get a check from them, can I refuse it and demand my papers?
You need to review all your correspondence with Nickel River (Nichol River?) to see exactly what you agreed to. Did you agree to give them a specified period of time to review title before paying the bonus and has that time expired so the agreement has terminated? You can then demand in writing, by certified mail, the return of the unrecorded lease. It seems to me that it is not a good plan to continue to wait for a check and then try to dispute the validity of the lease. It is really a question for your oil and gas attorney to review everything and then advise you on the best course of action.
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A certified letter (Return Receipt Requested) Probably to their legal department if they have one!. is probably the best. You can get their legal address off the oil and gas lease you signed
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Alan,
Take the dinkins well for example, I have heard that it may pruduce up to 40 million a day.
Is that MCF, CCF, or CF
The price right now lets say is 2.5 dollars per MCF correct?
so you would divide the 40 million by 1000 to get the $$ its producing a day right?
If you assume a well is producing 40,000 MCF of gas per day and gas is selling for $2.50 per MCF, then the estimated daily revenue is $100,000.
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so the 40 million I keep hearing is CF, not MCF.
Yes, that is correct.
If they don’t pay up in a certain amour of time , may you legally accept a better offer or does that need to be on the signed lease. Also what id a pugh (sp) clause?
We got ours immediately
Get in your car with your Paper Work and drive to their office.
Mineral_Owner5, could U give me a call at 903)245-7969…I have some information that might interest U. Clint Liles