This month, my family received a large payment from Native Exploration. There was no explanation - only about 20 pages of adjustments from 2019-2022. Are we entitled to interest on this apparent backpay? Do I need to request it as we have when a company goes beyond the 6 months to begin payment a new well?
I would appreciate any help you can provide.
Joyce Sills
Go ahead and try asking for it. Send a certified letter return receipt and ask. Not sure it will work, but never hurts to try.
You will not be able to get interest on back pay
If they didn’t pay you on time to start with, you should get interest. If these are just corrections to volumes, prices or ownership, then probably not.
It was corrections to volume. Thanks!
Well, this month’s payment included interest for the backpay received last month! I didn’t have to ask for it.