XTO statutory interest


#1

Just asking if anyone has had trouble getting the statutory interest due from XTO.


#2

I have been wondering the same thing! I read somewhere that the checks wouldn’t go out until the end of August. Are we supposed to do anything as far as contact anyone, ect., do you know that?


#3

The wells started producing in June, 2016. We received our first check December, 2017. Our family sent a certified letter, return receipt requested for the statutory interest on or about September, 2017. I have been in contact with a person at XTO, and keep getting different stories. This last month I told XTO we are done, we will pursue getting an attorney, then I get a call back stating that we will see the interest check on our June check. I do know that you have to write a certified letter requesting the interest and they will look at it and see if you are qualified to receive it.
So you are owed Statutory interest too?


#4

Ok, yes I am. I’m going to have to call them! Of course I had to read the 200 (and something) page court record to find out but my wells were listed. It was my understanding checks were going out at the end of August and the receivers had to do nothing. I believe I read that on the chieftain website. That’s one of the main reasons I joined this forum, I figured more people would be talking about it. I have very little knowledge about all of this, i inherited my mineral rights from my great grandmother but I am trying to learn. I will look into everything you said to do. Thank you for information.


#5

Just an update for you. Of course, after I email XTO to ask them why I haven’t gotten anything from them they respond to me that they have no record of my name and want the legal documentation of my ownership. :woman_facepalming:t3:… I have all of that, I inherited my royalties from my great grandmother in 2009! Seems like the names should’ve been transferred by now??.. have you had better luck with them?


#6

Have you sent copies of the deed records to XTO? XTO and other oil companies do not constantly search the deed records to see if title has transferred on leases and wells. It is the responsibility of the new owner to send those records to the oil company. You may want to send by certified mail or priority mail so that you can track delivery.


#7

@TennisDaze if you’re replying to me thank you and I transferred ownership with all the legal documentation back in 2010-2011, so ownership has been in my name for about 8 years. I did not send anything to XTO because it said on their website that I didn’t need to do anything. Certainly, if I’d had followed through with that and not inquired to them I would’ve never heard anything from them.


Leflore County, ok