I never saw any press release that the Eagleford purchase from Chesapeake was closed. I am a former Chesapeake royalty owner. I have seen nothing regarding this months royalty check from Chesapeake. Did the deal close? If so when will the WildFire payments start?
You could try their media contact. Or their Division Order department.
Media Contact:
Drew Cozby CFO, WildFire Energy drew@wildfire-energy.com
SOURCE WildFire Energy
Thanks for posting, I just got mine this evening.
So is Wildfire required to pay for royalties in the month of June for production in April, or do they get a pass, because they are ''new". How long do they have until they are required to pay for royalties for April production. How long do they have to submit report production numbers to the RRC. I did email Wildfire asking if I needed to submit a new form for direct deposit and was told that the records they have on file are sufficient, so I expect a report from Energylink tonight. I’m referring to existing wells, not new wells.
It usually takes a few weeks to a few months to get caught up. It depends upon if they go with the pay deck they get or if they run title on every single mineral owner. Or you might get lucky and only have a few day lag if they have already been working behind the scenes for months.
My ACH deposit from WildFire cleared last night! Kudos to the team at WildFire. My only suggestion to the team is to communicate a bit sooner and better, like a press release when the deal closed including the plan for when the acquiring company would begin distributions.
Our checks were posted to our bank account last night as well. One is definitely not correct, so I will have to get with them on Monday, unless they take the week off. But, there is no statement on EnergyLink, so I cannot check anything. As Scott pointed out, a little communication would be great. I don’t even know if they are going to be using EnergyLink. Also, there are no production numbers submitted to the Texas RRC, so we are completely in the dark. My “just a wild *** guess”, is that they just sent a token payment to stay in compliance with paying on time and will make corrections after we get the production numbers and tell them what they should be paying. That buys them more time with our money.
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