Did anyone get anything out of this class action against Sheridan who went bankrupt and is now Sunrise Oil?
Also the well of mine that Sheridan had the lease on was obtained by FDL Operating LLC as part of the bankruptcy proceedings. I contacted LLC to see if I had any royalties coming and was told the well was shut in before they obtained it. They did not know when the well was shut in. Of course Sheridan had not told me the well was shut in before the bankruptcy proceedings. There is no listing or phone number for the company Sheridan Production became which is Sunrise. I am trying to find out when the well was shut in and if I am owed any royalties. FDL says they know nothing about the well other than they owe the lease. Any suggestions?
The OTC website is only current through December 2019 for this well and it doesn’t show any lapses in production. You can write the OTC and request production information or wait until the website updates. The production is only 3 barrels of oil per day or less and 18 mcf/day so chances are the revenue due you hasn’t accrued to $100 yet. You should send a letter to the new operator requesting payments be made when revenue accrues to $25.00 or greater as per Oklahoma Statutes.
Hope this helps.
Todd, the last payment payment I received was in December 2019 from Sheridan. Maybe that is when the well was shut in? Since the new owner (FDL Operating LLC) is the one that told me that when they acquired it in bankruptcy it was shut in. They (FDL) doesn’t owe me anything.
I guess I could write OTC and see if there was any production after December 2019 and up til the time of the well transferred to FDL.
Will OTC has the date of shut in?
At the moment, there is no shut in date filed in the OCC well records. You could assume that it is Dec 2019. Go back to your lease and check your shut-in clause. They may owe you money on the lease in about a year. Many leases have a $1/ac shut in fee after a year. If so, then FDL will need to be contacted at that point.