MY GRANDMA DIED IN 98 WE HAVE NOT BEEN PAID SINCE THEN, I RECENTLY FOUND THE CPA THE OIL CO. USES TALKED TO THEM SAID WE HAD MONEY COMING TO US, FILED AFFIDAVED
OF HEIRSHIP, THEN CALLED THEM BACK THEY SAID THE OIL CO. SOLD LEASE
NEW CO. SENT US A NEW LEASE TO SIGN SAYING OLD CO. HAD THINGS IN A MESS THE JUST WANT TO STRAIGHTEN THINGS OUT BUT NOBODY HAS MONEY THAT IS OWED TO US NEW CO. SAYS OLD CO. HAS IT, OLD CO. SAYS THE ARE PAID UP TO DATE ON EVERYBODY THEY OWE ROYALTIES TO. ASK NEW CO. TO CHANGE NEW LEASE TO FORMATION PRODUCING TO HOLD LEASE NOT ON HBP FOR WHOLE LEASE THEY SAID THE COULD STILL USE OLD LEASE SO WHY SIGN NEW LEASE, BUT ACCORDING TO RRC RECORDS WELL WAS SHUT IN FROM 98 TO 2000
SO TO ME OLD CO. SOLD A LEASE THEY DIDN'T OWN BECAUSE OLD LSE. STATES THEY HAVE 90 DAYS OR LSE. IS VOID THINK NEW CO. IS TRYING TO COVER THERE BUTT BECAUSE THEY KNOW THERE IS NO LEASE. JUST ASKING WHAT Y'ALL THINK I SHOULD DO.
If the well was shut in since 98, there may not have been any production to pay on. But if there was, it sounds like the old company should be holding your money or should have sent it to the state unclaimed funds (if they do that there). Question is, will the money they supposedly have be enough to pay you and the lawyer you may need to get anything? Isn't there a site that you can search production records for that well(s)? As well as see who the operator was for the time period in question? I sure wouldn't sign any lease until I knew what has been going on.
THE WELL IS IN TEXAS OLD CO. SAY THEY DON'T OWE ANYTHING BUT THERE CPA SAID THE MONEY WAS THERE
BUT SINCE THEY SOLD CO. THEY DONT HANDLE IT ANYMORE OLD CO. WAS MOM AND POP CO.
THERE WAS NO PRODUCTION FOR 2 YRS THEN PRODUCTION FROM THEN ON MONEY WAS NOT TURNED OVER TO STATE, CO. KEPT MONEY AND BLAMING OTHER SIBLING MIGHT HAVE MONEY
Stacy, do you have the legal description for where this property is located?
You need a real good lawyer.
Stacy-
Very suspicious situation. Is the lease in one of the shale plays? It may explain all the maneuvering.