I believe the after payout money from Nov 2018 forward is likely in “suspense” and will have to be paid to you–unless you somehow unwittingly relinquish it. If I am interpreting the RRC online documents correctly–and that’s a big IF as I am surely no expert–5 acres would be around a 0.008 decimal interest in one of the wells. Nov 18- Apr 2019 the RANGER C4-6-14 , Lease No.: 49878 well produced 38,903 bo.
That is what I am led to believe on paying us what is owed after the payout. But I am a rookie on this so who knows.
We don’t want to steal money but also do not want to be taken.
No. Not if you were entitled to it.
We have no idea if we are entitled to it. We own it (that is certain).
I have always heard / thought that Co-Tenant rights kick in and that once the well pays out 100%. The unleased entities become co-tenants and they own the same percentage they own the same % share they own in the tract (not a unit well) and they have the right to receive their share of working interest (not royalty interest) in the well. The other working interest owner(s) get diluted and the Co-tenants get revenue on a monthly basis only after that, but they need to pay invoiced costs after the payout. I doubt you can INSIST that you would make an OG lease with the operator at this point but the operator may have the option to take an OGL or not.
Out of the blue each sister recd a check for over 12K. The reports show production from the start of 2019.
Would anyone know when payout was reached on the two wells?
Thanks
the wells are 4301H and 4303H in Reeves County, Section 14.
Thanks
Where’s the help from the experts?
No one knows when those two wells reached payout? I heard November 2017.
I own 0.95 interest in two wells that I know of. Where’s my checks? In Suspense or what ?
Contact the operator for information on pay status. No one else will have it. Be ready with owner number, well number, net acres, royalty amount, etc.