Oil well name in Grady county. Section 13 N9 W 5. Belongs to roan resources. Started in December 2018. Has anyone received a royalty check yet?
Are you referring to the Livingston 1324 1H which has a surface location in section 12 and goes south into 13 and 24? Active date was 8/30/18.
Or to The Duke 24-13-9-5 1XH which has a surface location in section 24 and goes north into 13 and 24. Active date was 12/7/18? The final order on the splits only came out on August 13, 2019, so they are delayed by months getting the Division Orders out. You need to request the interest when you get your DO.
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Also want to thank you for the information. It will help us greatly. Mother passed away and we are not sure how to handle the royalties. We know of 19 different ones in Oklahoma but not sure if they are active or not.
To my knowledge Roan as not made payments on any well completed in the 4th quarter of 2018 or later. They do not have the cash. Company has announced a sale to Citizens and has indicated payments will begin shortly after the sale closes. The good news is that I dont think Citizens would be buying the company unless they planned on making the payments due.
I think both. According to the corporation commission roan in section 13 was dec 2018 and eog in section 24 was sept 2018.
Thanks for the information. Contacted Roan and they stated they would be sending DO out shortly. Don’t trust oil companies very much. Use to work for a company that did analysis on oil wells. It was amazing how many had to pay back payments with interest.
They have the cash, they just don’t know who to pay yet.
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Thanks for information.
Oklahoma Statute 52-570.10, Payment of proceeds from sale of oil and gas production, outlines the royalty owner’s rights: (1) Payment must be made NLT 6 months from the date of first sale from a new well, then (2) NLT the last day of the second succeeding month after end of the month within which production is sold–kinda sorta within 60 days from the month of production. An operator will normally not automatically give you this interest–called “statutory interest”. You will have to write them a letter demanding the interest. The interest rate is normally 12% APR, but if your title has problems the rate is 6% APR. Learn the date of first production from the Oklahoma Corporation Commission’s web site: Oil & Gas, Databases, Well Browse Database, type in the legal description of your section, find your well, look for that well’s production which will be listed by month–assuming the record is current. The OCC will list date of first production (this includes oil and gas) but will list only monthly natural gas production, e.g. 4000 mcf. You will have to check the Oklahoma Tax Commission’s site for oil production: All Taxes, Gross Production, (in search box type in Public Pun), search PUN, check search by Legal, type in your section’s legal description, e.g. 06-07n-06w. Oil production is listed by barrel. Telephone the OCC if you have a problem finding the information–they are good. Good luck finding help from the Oklahoma Tax Commission.
D and I have interest in 2- Roan wells 26-10-5. Both with dtd of 1st sale Dec 2017. received first payment for one well 4/2019, and on 10/2019 for the second well.
Send a certified letter with return receipt green card and request your interest. Tell them your owner number and the well(s). Also give the first sales date and your first check date. You might want to wait until after the November check. Sometimes, they send the first check for the royalty and a month later, they send the interest amount. If they don’t send it in the November check, then send the demand letter. Keep all those checks stubs. Last year, I noticed that Newfield had double reported on a few wells. They put the royalty and the interest in the 1099 Misc. and then sent another 1099 Interest. Still trying to untangle that, but we have the documentation.
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Thank you once again for your valued information. We will follow through on this.
jimm