How do you know if an oil and gas operator is being honest about a well being in pay status after penalty is paid for not participating in your working interest portion? How can you double check this? Especially when you had no idea about the interest at the time the wells were drilled.
You can request a payout statement from the Operator and you can hire an accountant to perform an audit. If you know of other owners who are in risk penalty status, you could possibly share the cost of the audit with them.
2 Likes
You should post the State and the Operator for better replies to your situation. Statutory requirements vary by State.
Located in New Mexico