Has anyone else had their payments suspended by Devon starting October 2015? We were getting checks regularly since Oct. 2014 until the last few months. One of the other mineral owners hasn't received anything either. There are two other owners in the section, but we aren't friends with them. This is the reply I got from Devon when I asked what was going on. The funny part is, what I've copied & pasted was in a totally different font from where the bottom of the email said to let them know if I had further questions. It is obviously a canned reply.
The reason you did not receive a payment last month, however, is due to a number of adjustments that were made to correct the inventory stated by production. Oil allocations were revised from May 2014 through the current month as a result of these inventory adjustments. Inventory balances had to be rolled forward month by month starting with May 2014 to ensure that current inventory balances properly reflected changes that occurred over the course of the adjustment period.
By reflecting a truer inventory, the sales could be more correctly allocated to the wells that produced the volumes sold. Based on those revisions, payments to owners were adjusted to reflect more or less sales on their wells. The adjustments resulted in less sales for your well, and therefore, monies had to be taken back. Once your current sales are greater than the amount reversed, you will receive payments again.
Looking at the production records I find online, I only see production through April 2015. I can't remember or find the website for the state (OK) that shows sales of product picked up There are 4 wells on the location & all of them have no data online past April. Help?