Drillers Complete Four in Freestone

why haven't I seen anything on the Knight A II
# 7 well started in March 2008 finished around
April 2008 ?

XTO is the operator. If you are a lessor, contact their revenue department.

The website I use, drillinginfo.com , shows me no record of a #7 well within this unit. Once a well is completed, XTO will file a record with the RRC of Texas.

If the well was not completed until April 2008 (and that is the month we are in now!) revenue payments will not begin to generate until approximately 60 to 90 days AFTER first production. You would get paid from the date of first production, but it takes a little while for XTO to get the status updated in their land system.

Keep in mind also that the well could possibly have been completed as a dry hole or as a gas well it could be shut-in waiting on a pipeline or any other reason.

Check the shutin clause in your lease.
Operator would have (typically) 90 days from the date of shutin to either pay lessor a shutin payment or obtain production.

yes i know about xto oil they owe my family heirs money we have not got anything from them yet we are the brackens heirs but we getting ready to contact them to ask were is our royalates checks

They owe your family heirs money? Exactly what do you mean by that statement?

As an example:
Your grandfather owned mineral rights, signed a lease, acreage was pooled into a unit... Grandfather dies either with or without a will? Has his estate been probated?
XTO more than likely has put revenue in suspense until the chain of title is clear.

To prove heirship you will need to provide XTO with any of the following type instruments: Affidavit of Heirship, a Will (if available), a death certificate, or perhaps a Deed had the mineral interest already been conveyed.

It is really up to the owner of the minerals to provide the Lessee of those minerals any documentation designating the current ownership.

Once your ownership has been documented, you have every right to request and receive copies of 1) original lease 2) Pooling or Unitization documents 3) account of revenue paid and/or in suspense.

XTO could be holding funds in suspense. Or XTO could have already had those funds escheated to the State of Texas.

You can't really blame XTO if title is not clear. If they disburse money without complete and clear documentation they could face a lawsuit should a "true" owner surface after the fact.

here's a couple of websites to look at if you wish...

http://law.justia.com/texas/codes/pr/006.00.0...

https://txcpa.cpa.state.tx.us/up/Search.jsp

oh and as a afterthought.... your revenue may not amount to the minimum required for XTO to issue a check... YET. Some owners have such a small interest they accumulate revenue and only get 1 check at the end of the year should their revenue be less than, say,$100/yr. Different companies use different amounts.

yes i know xto has a acconut we are still trying to get the money for the suspense account that belong to the heirs it is a proccess we know it is there but we still trying to get it

If you know how we can get money from the suspense account at xto oil for my family heirs plesae let me know its a long process thanks

If you have already provided XTO with your documentation proving chain of title, XTO should immediately (upon receipt of such documentation) release your money from suspense. I believe in most contracts (leases) the lessee has 60-90 days from notification to update their records and begin disbursing funds to the current owner.

If, by chance, XTO has escheated the money to the State of Texas, the link provided above will give you contact information to the correct department with the State of Texas, you will have to prove ownership of those funds with the state. You can request and XTO is obligated to provide a statement of the account and all funds in suspense or all escheated funds.

Perhaps there is something in your chain of title that isn't adding up? You say you have provided XTO with all documentation, but should the estate still be in probate, XTO will continue to hold the funds.

If XTO is taking an unusually long time to disburse funds, after receiving ALL documentation, contact the revenue department at XTO in Fort Worth and ask for the department head.

http://phx.corporate-ir.net/phoenix.zhtml...

The squeaky wheel gets the grease..... bug the crap out of them, call every day, until whoever has your file on their desk is forced to dig it out from under their in-box and update their records to get funds where they are suppose to go.

thank you for the info i sure will call them i have given them all the info they need they say they are looking in to it there is more than 100hundred dollars involved

its time to get serious with xtooil about my royalty checks i will be talking to a lawyer monday to get this taking care of thamks all

I just wish xtooil would just send me and my family heirs our revenue checks without us filing a lawsuit we know some of our family heirs are already gettin money we have sent in our paperwork and we willget ours

RE: XTO and pay at the very last hour possible.
You might not get paid till December25 if new gas unit. You'll hear that the revenue tax accountants need more time. You figure it out how much cash flow they save if they hold a gas unit's checks until Christmas. Make sure they have your correct address. Will take them 60 days to correct. Make sure you set up automatic draft with your bank or the mail will take 10 days to come to your address. They will mail it to the wrong address till April, then after tax season suddenly correct address. I had 5 checks floating until corrected. The unit was finished in March, I received my first check in late April of the next year due to all the problems above. Not to mention I had to amend my tax return for that year because of late address correction by them gave me late 1099 after April 15.
Go to web site and complete all information on their web site and make sure your name is correct with correct address for all heirs. The people are nice on the phones.