does anybody know when we can expect a rolity ck. on Pilsner 1H
Have you filled out your division papers yet. A well I have interest in started producing in March and I just received my first royalty check. It takes awhile. It was also with PennVa. and in Lavaca County.
no havent received any division papers to fill out. i think it went into production in june.
Yes, it was completed and tested in early June but it's interesting you haven't received division orders yet. All sorts of things can hold those up, including the operator name change from Magnum Hunter to Penn Virginia possibly. If you receive papers this month and have them back by the deadline they specify, you would be due payment August 25th for the June sales. However, if there are delays in getting those division orders out, it could be another month in which case you should get a combined payment for June and July sales at the end of September.
My research and recent discussion with Penn Virginia person in charge of Texas advised that in most cases wells are completed and production initiated for three month period before first royalty check arrives. I had previously been told that division orders are received prior to first royalty check being sent, however this representative at the Penn Virginia Houston office advised the RRC. Rules do not require Division Orders prior to “first” royalty check. I have heard from several mineral owners that the 3 month production is also the apparent reason first checks have been large checks? After first then monthly checks come routinely at end of each month. We consulted legal advice from certified financial planners to aid in planning estate, LLC etc. Legal advice has recommended this for tax planning assistance as well. Seek advice BEFORE you sign DIVISION ORDERS, when you receive them. JMO (just my opinion)
Miles