There is a new operator in the Barnett. Since the transfer from the previous company to this one the new guys have sent two letters: 1) one dealing with basic banking info and direct deposit instructions, and 2) a boilerplate letter about a technical issue they’re having which prevents them from sharing production details and a check that is not based on actual production (so much for direct deposit). The company has not paid for January or February production but the letter promises more checks later. We are well beyond the typical $100 accumulation rule. Interest is accruing. Is anyone else familiar with this?
Send a certified letter return receipt requesting payment and interest. They are required by law to respond within a certain number of days.
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Thank you M_Barnes. Your expertise is appreciated. One follow up question and then I’ll take my answer off the air. What is the number of days from their receipt of such a letter?
Look at production volumes on RRC website. Look at the oil and gas sales being reported for severance tax purposes on the Texas Comptroller CONG website. If you post the operator and well, then someone may have more specific information.
One of the Texas folks will know. It may be 90 days, but I am not as familiar with their law. It would be found in the Texas Oil and Gas regulations.
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