I just received accumulated royalties dating back to 2014. The landman who found me said these had been held earning interest. I see no indication that interest was paid. Should I expect to be paid interest ?
The rules depend upon which state and if the amount is held at the operator or at the state unclaimed funds. Some states have a four year statute of limitations time frame, others have a point forward or only four years back, seven years, etc. Never hurts to read up on your oil and gas statutes for your state. Unclaimed funds-probably no luck since they were already held four-seven years by the operator. If the operator is still holding funds in suspense that were actually good title, then send a certified letter return receipt demanding payment of royalties and statutory interest.
1 Like
This topic was automatically closed after 90 days. New replies are no longer allowed.