Our well was off the confidential list on 4/14/2011. Does anyone know how long it takes for the first check? Thanks!
Generally, I've seen with my minerals that you are paid in arrears 1 month for oil and 2 months for gas. I have not had a well on confidential status, but my guess is it will be next month for your oil production. Anyone else with experience care to share? I would like to know for future reference.
The first oil sale was 3/2/11. Does that help? Its a little confusing. How long before a division title is sent out?
Ms. Wallum, they have 150 days to pay after first sale, before you can accrue interest on the past due payments. They only have to pay interest on what is more than 150 days past due. You will have to demand the interest if they pay late. They do not have to pay interest on past due payments, or pay at all if there is a cloud on your title, a probate not done or whatever. I’d be checking my chain of title to be ready. From what I understand, in ND you do not have to approve and return the division order to get paid, so take your time and make sure you are properly credited, acres, royalty. I have personally had to wait 8 months after first sales to receive a division order, I actually received a check before the division order. Hope this helps and good luck.
Lynn Wallum said:
The first oil sale was 3/2/11. Does that help? Its a little confusing. How long before a division title is sent out?
Thank you for the information! Yes it helps alot! :)