We have royalties in northwestern stephens county oklahoma. We did not recieve our check this month, chesapeake says they sold our minerals to Territory LLC. Stillwater Ok… There has been no heads up from either Chesapeake and Territory. Chesapeake just says it is now Territiories problem. Calls to the listed number to territory Resources have not yielded more than a voice mailbox to date. Does anyone know what is going on. They owe 3 months of royalties now. Sam Woodard
Sometimes it take several months to get all the paperwork done. You can go onto the OCC wells database and look for a 1073 form for your wells. It usually has a better phone number to call. Go on the Territory Owner Relations website as well.
I ran the API numbers for our ten wells and only one is listed and it shows Stephens and Johnson as the operator. Is it common during this transition that the API number would drop off or change. Thanks Sam Woodard
The API number is assigned to a well when it is permitted and stays with the well. The only part that might change are the last 0000 on the end to 0001 or something like that if the well is sidetracked. Generally, the API does not change.
I’m afraid this could be a mess
Generally, most oil companies will not notify you of an assignment unless it is required under your lease or, even better, if consent is required. You should email royalty owner relations at both companies and ask about the assignment. If the county deed records are on line, then you can look for a recorded assignment. If you post information identifying the wells and the sections, then others on this site may be able to help you be sure about the current operator.
Could be a mess. But where else can you make 12% interest waiting for payment?