Hi Kevin,
I do get payout statements each quarter. What our beef is is that on our original information sent to us on each well [AFE breakdown] we got an itemized list of cost for the well. The well with the most discrepancy cost $7,304,670 to drill and that well was completed on 4-15-14. The payout statement on this well states there is still $13,852,916 left for the oil company to collect on 12-31-17. How does that jive? And there are at least 9 more like that; I realize the price of oil collapsed over the last couple of years, but there should not be this much discrepancy. I originally contacted one of the pros on this site who is an attorney but have not received any answer from him. We originally were told we would have to wait approximately 3-4 years to get our share [an additional 84% compared to the 16% we now get]. Thanks for responding; I will dig deeper and perhaps contact the oil company as I have a fair relationship with the landman. I know we can’t afford 5-10 thousand. Thanks again.
Pat Maloney