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Author Topic: Bradford County Officials Testify at Senate Hearing Back to Topics
pcw029
Rookie Author
Pennsylvania

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Message Posted: Jun 28, 2013 9:58:06 AM

Based on a very conservative estimate, landowners in Bradford County lost a total of $10 million during the second half of 2012 due to post-production costs being deducted from their royalty checks, Bradford County Commissioner Daryl Miller testified at a hearing held Thursday by a Senate committee.

....."Our constituents have shown us evidence of extraordinary post production cost in Bradford County, with deductions of 40 and 50 percent all the way up to as much as 90 percent from our landowners' royalty checks.
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REPLIES (newest first) Post a Reply
vette84
All-Star Author Arizona

Posts:570
Points:1,468,670
Joined:Jun 2010
Message Posted: Jun 28, 2013 4:01:06 PM

Just wrong, but does not surprise me.
YumaFellow
Champion Author Arizona

Posts:4,472
Points:1,344,950
Joined:Jan 2011
Message Posted: Jun 28, 2013 12:58:53 PM

Take an oil man and a gangster and what do you get? An oilster. The oilsters seem to be doing their dirty work here.
humblepie
Champion Author Toledo

Posts:63,884
Points:3,153,595
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Message Posted: Jun 28, 2013 12:03:22 PM

dealing with net always comes back losing as opposed to gross
jimgraham
Champion Author Akron

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Message Posted: Jun 28, 2013 11:19:04 AM

Crooks.

Chesapeake.

Need you say more?
mitt4prez
Champion Author Tacoma

Posts:4,999
Points:2,008,940
Joined:Nov 2007
Message Posted: Jun 28, 2013 11:08:41 AM

Oil and gas accounting is as crooked as Hollywood royalty accounting on films. Moral: take your royalties off the gross. The hell with the net. That's for the producers to sweat.
russiam
All-Star Author Cincinnati

Posts:970
Points:828,810
Joined:Dec 2010
Message Posted: Jun 28, 2013 10:12:54 AM

Ok
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