I receive payoff statements from a TX based operator towards reaching the 150% mark so I can get the rest of my royalty, the non-consent WI. However, they keep moving the goal post with operation and reworking expenses. I thought that flew in the face of NDCC § 38-08-08 and how the state courts had ruled on expenses?
If not, a well could theoretically come out of being a WI if it had enough expenses years after reaching the 150% mark which doesn’t seem right.
Anyone have a thoughts? Thanks!
ND operators are under scrutiny for unexplained expenses. The ND NARO (National Association of Royalty Owners) Chapter is fully aware of the issue and their directors are talking to legislators about the issue. Their president had an excellent article about the situation in the association newsletter this month. Concerned mineral owners may want to join NARO and let your voice be heard.
Thanks for the reply. I tried joining NARO over the weekend. They took my money but still haven’t approved my application? Not impressed.
@Evan_Thomas, thanks for joining! I joined NARO 5 years ago and I am happy with it and hope you will also find it a good place for a royalty owner to be. I have met a lot of very knowledgeable people I wouldn’t have ever met otherwise, and it is great to sit down with people who have shared the same experiences and know exactly what you are talking about. Hope you find the same.
Give them a bit of grace on the timing. They just had their annual convention last week through Friday and the staff had to travel back home and back into the regular swing of things. I have been a member for decades and it is the best place to learn about minerals management for non-professional mineral owners.