The market unit price last month was about $2.20 and $2.40. The price on my Chesapeake statement was $0.46 to $0.50 per unit. My family and I are getting ripped off, and there’s nothing we can do about it. We don’t have the money to pursue them in court. They are not being fair, maybe dishonest.
You don’t need money to pursue them in court if you retain a lawyer who will take your case on a contingency fee, meaning the lawyer will cover all expenses of the lawsuit and gets paid a fee of 33 1/3% or 40% of any recovery he gets for you. If the lawyer is unsuccessful, then he eats the expenses and you owe him nothing. The lawyer only gets paid if he wins, and then he only gets paid out of whatever recovery he wins for you.
Can you share more about your royalties and where you are located?
Would you be willing to mark out your personal information and scan and upload a copy of your royalty statement? I’d be interested to research your property to find out if there is a legitimate reason why this happened.
Yes sir, I’m located in northern Johnson County, near Lillian, Texas. There are 5 wells under the names Stults-Welborn. They came in very big, some of the biggest in Johnson County. I can’t scan at this time. The statement under the price has 2 lines per well; this month one line’s price is $0.50 and the other line is at $0.46. I have other leases with EOG and they pay right at the market value. This seems to have started when the price went down and the company got into financial trouble. They sell to an affiliate which they own at a discount. There has been a class action suit filed, but it could not stand because all leases are worded a little differently. I’m sure in the fine print they are allowed to do this, but I don’t think it’s right or fair. Thank you for your interest.
Mineral Guy said:
Can you share more about your royalties and where you are located?
Would you be willing to mark out your personal information and scan and upload a copy of your royalty statement? I’d be interested to research your property to find out if there is a legitimate reason why this happened.