Somewhere in one of these forums, someone said that companies had to list NGL amounts with the state. Does anyone know if that is correct and where to check? I ask this since some companies are now refusing to pay for NGLs and are in court over this issue.
Jim, the Natural Gas Liquids are supposed to be reported to the state along with oil and natural gas, and each yearās production is required to be reported by March 31 of the next year, so 2014 production is due on March 31, 2015. Then the Office of Oil and Gas has until August 2015 to get this on their database.
Here is the place to check: Well information, WV Office of Oil and Gas
I just checked all our producers (old wells) and nobody has anything later than 2013 yet. I think I saw things show up in Feb last year. No NGL for last year but Iām not sure if any of my wells (a lot of fractional interests) had any NGL produced. No horizontal wells yet, all older vertical wells. Anyway no NGL reported for 2013, and nothing reported for 2014 yet.
Thanks for the kind words Jacqueline. Iāve had to find out a lot of things, and have seen a lot of information. Happy to share.
Jim, I would think a good argument against low bonuses etc. is that this business is cyclical, and just because price is down now doesnāt mean it will stay down long term. They need our minerals. They know there is something there, so need to pay for it. Something that was worth, say, $4000 an acre a few months ago is suddenly worth only $500 an acre now? They wonāt be drilling for a while (in most cases) and when they get all in place to sell, the price will be up again. At least that sounds reasonable to me.
There you go Nancy, Many thanks go out to you for all the research you do and sharing it. If i was coming out of retirement I would want you to run my company.
Thanks DT. Iām glad I donāt have to run a company. I guess I do run the Nancy Mosley Oil and Gas Business, donāt I! Thatās hard work. But never dull.
Thanks for your contributions too. All of you. We learn a lot from each other.
Iāve already heard that some companies are using the argument that they canāt pay as much in bonus monies because of the price of gas. So what are the arguments to counter this? Ideas?
Also, can anyone give me a range for actual bonus payment amounts in Doddridge? All layers.
Legislative sessions start JANUARY 14th Donāt forget to contact senators and delegates. The oil companies will pushing forced pooling again.
Dawn, Katelyn, in Denver (303-357-7310) is the person to talk to about anything connected to the Gaskins Well. Give her a call, she is good about getting back to you.
The letter I received was from Jo Vo in Texas. I donāt think Iāve received a division letterā¦ (Iām sure Iād remember that) Iāll call and see what Katelyn says. Thank you for the number.
Arnold, I just got a letter from Antero saying they were contacting me about royalty payments on the āGaskins unit.ā I noticed you said something about that but I donāt know what D.O. is. Does this mean they will be paying royalties soon? I get a check about every 6 months for about $4.00 for something else I donāt know what it is. Can you help me understand what they are doing?
Dawn, If you have interest in the Gaskins Well you should have received a Division Order by now. It will tell you the decimal interest that you will be receiving. Yes, I talked with Denver today and checks SHOULD be coming out the 1st of Feb.
Yay Arnold! Happy for you! Waiting for a call back from them myself 
Yep! I have also spoken with Kaitlyn and she assured us that we have a check coming around Feb 1 also. We have a holding in Gaskins. We also have Costlow and Welsch, but they are just overrides rather than mineral interest. Weāll see what it all amounts to soon!
Hi Arnold, Congratulations! In my leases there is a clause saying that they have to pay no later than six months from first sale. First sales on my leases were all in July 2014, so they wonāt make it. When I questioned, I was told that they will be paying 3% interest but that it would be paid in a separate check. Iām waiting for one of my DOās nowā¦ so I am behind you.
Thanks Jacqueline-Nancy, I believe that those that received checks in 4-6 months early on had signed leases way back when. Now PATIENCE IS THE WORD, just hang in there and good things will happen. (Itās tough to do though). Jacqueline, I have been told that the 3% will be on the next check, not holding my breath.
Received Payment: I guess if one is patient long enough one will get paid. I finally received a check on a well that was permitted on 06-28-2013, it went online in Dec of 2013, and lo and behold a check finally arrived on 01-30-2014. For those wondering about getting that D.O. in 4-6 months after going online, FORGET IT. I am talking Antero now.
Thanks a lot for that news, Arnold. This should help a lot of people.
Arnold, my leases were signed Jan 2012, Feb 2012, March 2012, June 2012, and July 2012. They all had first sales in July 2014. They do not even have the title opinions back on any of them but one! I have yet to see my first division order! Patience indeed! LOL Will wait to hear if that interest payment comes with your next check. Thanks so much for the update. Nancy is rightā¦ it helps!
Jacqueline, just received a D.O. on the Holden Wells. #1 well was permitted in April of 2013, so way over a year from permit to D.O. So I repeat, donāt count on getting a check in 4-6 months from āgoing onlineā to D.O. Itās more like a year plus.
Thanks for the help and information Arnold. If you hear anything about the Banner/Tobar (I think is the spelling) please post and let us know.
Thanks again,