Does Trinity ever pay?

Disclosure: I also own minerals in Trinity wells and have several friends who also own.

I suspect Trinity is behind, specifically in Hughes County, due to the ongoing litigation surrounding both underpayment of royalties and statutory interest. Most of you probably know that Trinity is formerly PetroQuest Energy, LLC. PetroQuest was sued in a class action, see Hoog et al v. PetroQuest Energy, LLC et al. This case actually put PetroQuest into bankruptcy in late 2018. It will take some time before everything is cleaned up.

M. Barnes is 100% correct in that if your royalties are being held in suspense for a reason other than curative, you are entitled to 12% interest per annum to be compounded annually, calculated from the end of the month in which such production is sold until the day paid. If your royalties are held in suspense for curative reasons, you get 6% per annum.

I have spoken with one of the Plaintiff’s Attorneys for the Class Action against Petroquest/Trinity and his recommendation was that you simply send a letter to Trinity via certified mail reminding them of their obligations under OK Statutes, Title 52, ss.52-570.10

If you receive your first check on these delayed wells and it does not contain a breakout for interest, my suggestion would be to contact the Lanier Law Firm, who are current Lead Counselors for the Hoog v. Petroquest case.

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