Does anyone know when Samson Resources might return production in La Plata wells back to the level that existed for months leading up to their bankruptcy? What recourse do royalty interest holders have, if any? My particular interest is in the W/2 Section 29 T33N R7W, where they drew from 4-5 wells.
I just discovered that back in November Samson sold all their properties in La Plata County to Red Willow Production Company, a division of the Southern Ute Tribe. I have been in contact with Red Willow and they say that we should receive our royalty payments for December shortly. They should be getting in touch with you by mail soon. Whether Red Willow will return production back to the levels we saw with Samson, I don't know. More likely production levels will depend on the coal-bed methane spot market prices. Since shale gas prices have been trending up let's hope the same occurs for us. I don't think we're going to see the $4/unit prices we had back in 2014.
Keith, Thanks a heap for your input!!! I had given up on this county group. You'd think Samson would have had to notify the royalty owners. Maybe the SUT would want to offer to buy these interests? Or maybe I'll just give them my minuscule part. When my mother was a little girl tending her dad's general store in Bayfield, CO around 1918-20, she said Buckskin Charley came by once or twice, and was very polite and friendly.
I somehow missed the sale to Red Willow in all the bankruptcy notifications. I went back through the court papers and all it had to say was the purchase price. No information on just what properties got transferred. I was wondering why the December royalty payment hadn't showed up and spent a couple of days trying to get anybody from Samson to return my inquiries. Typical of Samson for the last year. Samson told me they had no interest in my wells anymore and clued me into Red Willow. I have to say I have been impressed with the communications with Red Willow so far. Prompt and informative responses exactly opposite of what Samson provided. I have good feelings toward Red Willow for the year. I think their management team is a lot better than Samson.
I hadn't heard that name for while, then some conversations with my grandfather tickled some neurons. My granddad was the banker in Durango, CO. My mom went to school with a prince and princess of the Navajo nation. That's where my wells came from.
My ancestors settled in Durango and Farmington in the 1890's. My grandfather owned the mill and general store in Bayfield until ~1920 and then owned the banks in Delta and Paonia. A great- grandfather, Sam Wall, owned the Wall Drug Store in Durango. A step-grandfather Jack Turner started Turner Investments in Durango. A great uncle, Dudley Ewing, owned the lumber yard in Durango. I'm sure they all knew your ancestor.
More than likely. My grandfather, Keith S. Rucker was one of the past presidents of First National Bank of Durango. I'm sure your grandfather knew my grandfather since both were in banking.