help! All owners are in Greece and they have no attorneys here, I am just a friend who tries to help with this, some companies which are leasing are sending money, and some are not, how can I research to find out what is going on?
Thanks
Elena:
Could you provide some additonal details about this leasing? Are some of these "top leases" whereas the original lease has not yet expired?
Ms. Scott, the important thing to know right now is that there is a well or the producing wellbore in every one of the sections you listed and they are not new wells. The wells have already been producing for years. Lets start with T-150 R-96, section 7 has two wellbores, wells operated by Continental Resources named Miles 1-6H and Miles 2-6H with a combined production of 165,500 barrels. Section 8 has the wellbore of the Norway 1-5H passing through, also operated by Continental Resources with production of 109,561 barrels. Section 9 has the Norman 1-9H, operated by Burlington Resources with production of 117,762 barrels. Section 10 Has wellbore from the Teton 21-3H, operated by Burlington Resources with a production of 97,111 barrels. Section 21has the Morgan 31-21H, operated by Burlington Resources 107,351 barrels. All production is cumulative as of September. On to T-150 R-97 section 12 there is wellbore from Ravin 1-1H, operated by Continental Resources with a production of 69,143it's probably lowest because it's the newest. At least the owners only have two operators to deal with. While not spectacular, it's a good area. If probates have been done, a simple letter on a lawyers letterhead could get the royalty checks flowing. The operator is supposed to pay within 150 days of first sales if you have good title, or the operator owes you interest. The operators don't like paying the interest but I would ask for the interest anyway in the letter to the operator. It could be a very simple thing holding up payment. I had one operator who was going to hold my royalty payment because they wanted me to confirm yet again, my address. Since there are only two operators, is it a matter of one operator paying and another not or are both operators not paying on some wells?
First of all, thank you so much for your response, as my understanding Continental did not respond when they sent the letter, Burlington sent some checks to all relatives, some of them receive bigger amounts than others, this case is a long due as all relatives and owners are in Greece. The companies are taking advantage of that and sometimes they sent and sometimes they do not, also, in 1990 a company offer to be in the middle and do all the leasing for them, I am still trying to figure out which company is this, as the relatives do not do the leasing themselves, so there is a possibility that this company took advantage of them not being here and it does not forward the checks to them.
How much do you think the two companies should have been paying annually? about?
Elena
Ms. Scott, not knowing the net mineral acres or the royalty rate I couldn't hazard a guess.
Elena Scott said:
First of all, thank you so much for your response, as my understanding Continental did not respond when they sent the letter, Burlington sent some checks to all relatives, some of them receive bigger amounts than others, this case is a long due as all relatives and owners are in Greece. The companies are taking advantage of that and sometimes they sent and sometimes they do not, also, in 1990 a company offer to be in the middle and do all the leasing for them, I am still trying to figure out which company is this, as the relatives do not do the leasing themselves, so there is a possibility that this company took advantage of them not being here and it does not forward the checks to them.
How much do you think the two companies should have been paying annually? about?
Elena