Anyone else out there who didn't get their auto deposit from EXCO for March pmt. Checking back well was producing fine the month payment would have come from. Think I will give them until Tues. and then call. Probably just a computer glitch.
Could be tied to check size being too small to cut a check - most companies have that in their check cutting criteria.
Of course, if you have been getting some decent checks up to this month, my previous comment is a moot point
No the checks have been good. I do have other leases where checks are smaller and usually the companies won't pay unless over a hundred for the month. I am thinking maybe a computer glitch with EXCO. Thought maybe if others are having the issue then it would be an EXCO problem. Will call them tomorrow. They have been great to deal with in past.
Are your royalty wells in the area where EXCO was trying to sell their position? If so - and if a deal was made - the reason for check delay may be tied to transition to new company and accounting group.
Just grasping for possible straws here
that is what I am concerned about. royalties are in the Holly Field. I don't know if EXCO was trying to sell some of that or not.
With Exco on the verge of bankruptcy, we might all have delayed payments.
If bankruptcy was imminent, what would RDS do with their BG stake in EXCO's leases?
Hey Jay: A friend of mine talked to them this morn and their new dates to issue checks is 27th of the month. Now that is per the person he talked with for what it is worth.
I know I have said this before on here, but EXCO was one of the best companies to deal with. I always found them fair on their payments. Sad that they are in bad financial shape. My new favorite company to deal with is GEP Haynesville.
Officers took bonuses march 16th about $ 1.2 million.
Hope there is enough left to pay us ?
Our Exco check for a Harrison County well is mailed each month and we have not gotten it yet. Most interesting thing I have read is Harold Hickey the CEO sold 272,574 shares @ 60 cents per share on Friday the 24th.
Okay... received EXCO direct deposit this morning... normal amount
BTW - That was our Deposit for February and March...
Exco just posted a press release and they have sold $300 million worth of assets in the Eagle Ford. Article says they are going to concentrate on the Haynesville. Kathy
Forecasting royalties, income and production for your wells.
Learn more »»