We are in a 640 acrea section in Desota Parish, Louisiana, our land was leased to Chesapeake in 2010, XTO drilled a well in this section and completed and started producing the gas in April 2011. I have kept track of the production on SONRIS from the beginning, to date, it has been nealy 9 months and we have not heard from any one about our royalty payments. I have contacted Chesapeake and do not get any answers. IS ANYONE ELSE HAVING PROBLEMS WITH ROYALTY PAYMENTS FROM CHESAPEAKE AND/OR XTO?
It took them about nine months to a year after production started before we began seeing a check. I believe they us a lot of the first fruits out of the ground to pay for production cost. I read that somewhere in the mounds of paperwork. I can't remember where just now. They are a pretty reliable company, you should be hearing from them soon.
You can go online to Chesapeak web site and create an account. There you can monitor the Check Stubs being produced. I can see what they plan to mail out a week or two in advance of the check. You can also have it direct deposited.
Thanks Claude, but it should not take that long. We were told that it would be 4 to 6 months after production started for them to start sending money. We as royalty holders are not in the finance business, our money should not be used to cover production cost. That is why they get 75% of the gas produced, it is to cover production cost, overhead and profit for them. When we buy product from the oil companies, we pay in advance of receiving the goods. I do not count on the royalty payments but some of the people in my group do need their money. Again, thanks for your information. I have been in the Oil Patch all my life, have owned my own company for 43 years and still work full time.
Claude, you say you can view upcoming check details even before they are printed. I am not aware of how to do that. Explain, please. Are you talking about chk.com site or the pds-austin.com site (which handles revenue distribution for CHK)? When clicking on Check Detail, you can view checks after they are printed. How do you see something before it is printed? Anyone? I certainly wish I could do that for every operator so I know what my upcoming check will be.
Claude Whitaker said:
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You can go online to Chesapeak web site and create an account. There you can monitor the Check Stubs being produced. I can see what they plan to mail out a week or two in advance of the check. You can also have it direct deposited.