My mineral rights/royalties were recently transferred from Citizen Energy to Roan Resources. I say recently, but this occurred approximately back in May/June time frame. So far, Roan Resources has not paid a single penny since the transfer. I have emailed and called but all they can tell me is “in a couple of months we should be making payments”. With Citizen Energy, who I had been with for a couple of years, the payments were very consistent. Now its up in the air when they will pay. Is there anything I can do to get them to hurry the process along? Is anyone else having trouble being paid from Roan? Is there interest that should be paid (I am missing out on interest from the account these payments go into)? Any help or information would be greatly appreciated!
Roan is a brand new company and they are merging files from two previous companies. If you have any new wells that are drilled, you will get statutory interest on any payments that are past the six months from first sales date. Keep all your records from your earlier payments. You will probably get a new division order from Roan for each well. Make sure each is correct. It will take them some time to get 1000’s of records all reviewed correctly.
i have received statutory interest on old production due to non-payment by purchaser. It was a nice sum - 12% - so worth waiting for my royalties ;>)
I did not intentionally withdraw my previous post - i hit “trash” by mistake.
Thank you all for your replies. I don’t think they are drilling any new wells (on my interest at least). Its just frustrating that a company takes over and stops paying when you have relied on those consistent payments for so long. No warning, no information about payments being put on pause for an indefinite period, nothing. Just out of the blue, no check. Thank goodness I didn’t make a major purchase (like a vehicle) based on historical payments!