Moms decimal seems like it is figured on 1280 acres . I am going to have to check on this.
The equation is : net acres/actual spacing acres x royalty x % perforations in your section. You have to go back to the OCC orders to find the spacing and the final splits on the well. If you have trouble, let us know.
Has anyone been paid on the Sierra?
My mom got paid the other day.
Thanks Joe. I am glad they have started sending payments.
Yes, I am trying to hit them up for interest now. I guess its mainly a natural gas well. I was expecting it would be better than it was so far. Maybe prices will go up.
The rep from Casillas told me once the first check is cut and mailed to the royalty owner, they will then go in and cut another check for the interest due. He said it will be issued about two weeks after the first payment.
We received our check too and have also been working on the interest but they haven’t returned my call. Yesterday I sent another email to the land people that WERE answering the phone for both offices. I sent the copy of the law that says they are supposed to pay the interest as I had already sent them a letter asking when we could expect the check and the interest in a certified letter. Since I read on here they said a couple of weeks after we got the first check it should be any day now. Will inform all if we get it/ Best Wishes Everyone! Stay Safe!
We finally got a check about the first part of July on this well. It was for all the money held in suspense since the well was drilled up until the last couple of months. But we received no interest check yet although we have sent a couple of registered letters asking for that to be paid. We also have not received a check this month. They had said we would be kept a month behind on the checks as usual from now on but then I had heard that the well had been shut in when the price of oil went down around 0. Of course the oil is up around 40ish now so I don’t know if they have or are planning to open it back up. Anyone know?
Hi Linda, My Son finally received his check, yesterday. Last production period on breakdown is May 2020. Makes me wonder if they have more people to pay before they issue the interest check.
I don’t know but I don’t believe that should be the criteria as some get their division orders in much later. We should be getting the monthly check for June the first part of this month it seems to me so maybe the interest checks will be sent with them. I hope so. But then again if they closed the well in when the oil went down to nothing we may not have a check for June. Guess we’ll just wait and see. If we don’t get the interest check this month I’ll call them again. They say the squeaky wheel gets the grease you know! lol