First sales were in August. It has been 6 months since the first sales of the first well. There are 4 wells that have been pumping oil since April. Isn’t the company supposed to send me my first royalty check by the 6th month mark? That is the state law right. Company is OEG resources. Section 8-8n-4w McClain co.
source- 2014 Oklahoma Statutes Title 52. Oil and Gas §52-570.10. Payment of proceeds from sale of oil and gas production.
The six month clock starts from first sales not first production. Also, it may slide just a hair if the first sales date misses the check cut date of that operator. You will probably see something in February since that is the six month date. If not, then wait until March to fuss. Ask for your interest. If you have quite a few wells, it may take them a bit longer to get all the title work done and then calculate each well’s decimal separately.
Thank you, that was helpful.