Hey all, Just received the normal notification from energylink that my ConocoPhillips monthly check posted but there is no oil revenue this month only gas. This has never happened before ! Did this happen to anybody else ? Or anyone know why ?
Need some more info to properly respond - how much oil (BO) per month were you being paid for in previous months? If monthly oil volumes are low, it is possible that there was not an oil load (or about 150 BO) picked up for the month in question.
Conoco Phillips has been contacted and has informed me that these properties have been sold to USEDC so now I know !
My wife and I own 4 wells bought by US Energy Development Corp (USEDC) from ConocoPhillips. One well was approximately 11 years old, and three wells were less than 2 years old. Our interest in each is relatively small.
We received checks in June and July from USEDC. In June, they paid April Condensate for all 4 wells but no Gas paid. In July, they paid Condensate for one well and April and May Plant Products for all wells. No straight natural gas paid at all since our last check from ConocoPhillips in April. We were being paid between $900-$1,100 in the months before USEDC purchased the leases from ConocoPhillips. In June we received $599 and in July we received $256. Something is amiss, but we aren’t sure what to do at this point, but to wait a few more months.
What are others on the. forum experiencing with USEDC (US Energy Development Corp)?
US Energy reports gas and NGL as a single number, both on checks and to Texas CONG. Some companies separate gas and NGL and others do combine into one value, although usually they call it gas. No idea why US Energy calls it all Plant Products. WTI Oil prices fell by about $13 from January to May 2025, and then it increased by $6 in June 2025. Look at the RRC production and disposition volumes for April for the wells to see if there were oil sales in May. Maybe the wells were shut in temporarily due to nearby fracing of new wells. Also, look at Texas CONG for sales revenues to compare to your checks.
Thank you! I know how to do that, so I’ll get that done. Will get an email to what accounting says. My first email to them resulted in a response that ran something like this: ‘we can only pay what production has been reported by our cut-off date for checks’.
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