Hi. I have land in Reeves county that has some wells on it, has been under Anadarko lease for about 8 years, drilled on since 2016. Now its under Oxy and there’s a noticeable decline in royalty owner contact and information. Also payment is late. Has anyone been affected by the Oxy takeover? Can they deduct more than Anadarko did for transport and gas waste, etc? Does anyone have any experience with Oxy?
Hi Karla, We have dealings with Oxy in Kent County, Tx. And Eddy County, NM. Have you tried contacting owner relations with your questions? We have never had an negative issues. Checks are always received when the minimum of $100 is reached. Hope this helps…no bad dealings with Oxy.
Also no check was received this month due to the revenue was for May 2020 oil production. I have no idea what the closing price end d up being for Mays oil. Last I heard it was negative 40 bucks…
Check your Division Order and see if you have it set for $100. I usually set mine for $25 minimum. The negative oil price was only for a very short time, however it has recovered-somewhat. Checks are generally much smaller this month due to the price drop so you may be under the $100 minimum required before payout. Or it is possible that your well(s) has been choked back or shut in for a time and you have no revenue at all. Time will tell.
Interesting enough May 2020 production revenue checks are starting to come in. They average 15-17 dollars per barrel. What’s funny is April 2020 production revenue checks were less by 2-3 dollars.