Hi Guys. It's Suzan again with how this story just goes on and on, despite the fact I sold my interest back to CW for $12,300 I also have Anadarko Royalties that seem to be paying for the same wells as Clayton Williams. Wiliams just mailed me a check for $2,337 with no explanation. (maybe my mother's half?)
They are the Gold North and Gold South Units in Burleson County. They have different numbers, but well is the same name. The theory is they divided the production some way, maybe by depth or formation?
Any way, now I can't find a buyer for other royalties because Claytie did the same to Texas American and Probably Sheridan.
The buyers both claim this deal has resulted in so much paperwork, the cost would exceed the value of the minerals. I feel I have no choice but to sell back to Anadarko, but I'm not in a hurry. I was just trying to close my deceased parents estate, and the royalties are difficult. I am going to have a short life span due to cancer. My husband is my only hier. He cannot deal with the paperwork I went through - He's dumber than I am!
Hi RW: What is a JIB? and a NPRI?
r w kennedy said:
Yes of course, I mispoke. Sorry.
Pete Wrench said:
R. W., she appears to have an Overriding Royalty Interest (ORRI), an expense borne by the working-interest owners on the JIB, not a Non-Participating Royalty Interest (NPRI), an expense borne by the mineral owners on the JIB.
r w kennedy said:
I see, you have an NPRI for that particular hole in the ground. The general principle still hold though I think because they could always stimulate that formation again or recomplete in another formation.
Suzan, JIB is joint interest billing and NPRI is a non-participating royalty interest. I was in error before and should have said ORRI. Aren't all these acronyms wonderful?
Suzan, what can I say? I am terribly sorry to hear you have cancer....and have to deal with this BS. I sometimes wonder if I will live to get all my interests straightened out and I'm 47 and in reasonable health. If I passed, my brothers couldn't possibly carry on, lawyers would get half of it at best, at worst they would get all.
Suzan, I wish the best for you and you are in my prayers,
Robert
Suzan C. Holten said:
Hi RW: What is a JIB? and a NPRI?
r w kennedy said:
Yes of course, I mispoke. Sorry.
Pete Wrench said:
R. W., she appears to have an Overriding Royalty Interest (ORRI), an expense borne by the working-interest owners on the JIB, not a Non-Participating Royalty Interest (NPRI), an expense borne by the mineral owners on the JIB.
r w kennedy said:
I see, you have an NPRI for that particular hole in the ground. The general principle still hold though I think because they could always stimulate that formation again or recomplete in another formation.