I signed a lease with Point Energy Partners seven months ago. I have yet to receive the bonus check.
Is anyone else experiencing these long delays in getting your bonus ?
The in-house Landman says the title all looks good.
Thanks for your help!
This can be a problem if you do not get the check the same day as you hand over the lease. Many owners have a third party such as attorney, accountant or bank officer hold the lease until payment is received.
At this point, send a certified letter return receipt demanding payment. Have you checked on www.TexasFile.com to see if the lease has been filed in the courthouse?
Thank you for your response. I was not clear in my explanation. We do have a third-party holding the original leases. The attorney who handled this for our family group gets the same response, they will do a large batch bonus check issue at one time.
I don’t know enough about the process to know if this is a reasonable expectation.
That is a very long time to wait for a bonus. Glad you have the third party holding the lease!
See if you had any paperwork that told how long they were going to take. Start bugging them for payment.
I read that Vital Energy bought Point and Crescent Energy has bought Vital recently. Probably has gotten overlooked with all the transitioning. I’d call the landman and tell him your situation and if he can’t give you an answer ask him for the number to who can give you an answer. If that doesn’t work talk to your lawyer.
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Point Energy sale to Vital was in 2024 and that assignment would not involve newer leases. The same people have formed a successor company with a similar name which is actively leasing. These owners drilled and operated under former company and can be expected to do the same again.
This us interesting and new information to me. Should they have revealed that when we signed our lease with Point Energy Partners? We signed last November.
This has nothing to do with your new lease. Point Energy is representing itself. Landmen frequently represent companies which want to remain anonymous while they compile leases over an area.
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TennisDaze is correct in that if the sale happened in 2024 your lease wouldn’t be affected. But the fact remains you haven’t been paid after 7 months. When I’ve leased my minerals I was always paid within a couple weeks or less. I would call your landman and push for answers. I would say until you’ve been paid the lease is not binding.
It might be beneficial to do a quick records check to see if your memorandum has already been filed. I know some people send an email photocopy of the lease to get the bonus in the mail. Once it’s received, they send the original to the party issuing the check so that they can file it. Don’t forget to keep a copy of your full lease, especially if you are filing a memorandum. If/when your property changes operators, there’s no guarantee that your original lease will get into the right hands. If you’ve got a copy you can always prove up on your terms.
I am new to this. I have a question about and offer I have to purchase the lease in winkler Texas for 10,000 per acre that is producing $ $1,00000 per acre
Can you give the legal description of your interests along with the company offering to purchase your interest?
Also. Are you currently receiving a monthly royalty?
Be cautious with any purchase offer. Find out if there is pending activity that you might be giving up. If you share the block, abstract name and number, plus section, the forum may be able to help with the activity question. First offers tend to be low to see who will bite. If you get more than one offer, that is an indicator that several someones know something.