Roan has drilled completed two wells in McClain County in early December 2018. These include the Duke 19 9n 4W and the Duke 24-13-9n-5. Since December, Roan has been selling oil and gas from these wells but to my knowledge has not provided any division orders or made any payments. I do not know about other wells.
From reading the June 30 10K for Roan, it is hard to see how they company will have sufficient cash to ever make payments to royalty owners. The company may have a little roam on its credit lines, but that was at June 30. Meanwhile the company continues to sell the oil and and gas and incur liabilities to the royalty owners while using the cash for other purposes.
I am interested whether Roan is paying anyone else and whether anyone has any suggestions as to how royalty owners can protect themselves in such situations. I understand regarding the 12% statutory interest and even the preferential claim in bankruptcy, but how long can a company operate when it appears they have not ability and no intent to pay the royalty.