XTO faces class-action suit by royalty owners
Royalty owners contend that XTO underpaid them by 15 to 20 percent by selling gas to a wholly owned company subsidiary at a below-market price, with the gas later sold to an unaffiliated company at a higher price, according to a report on the lawsuit in The Oklahoman in Oklahoma City. The plaintiffs are seeking $27 million.
Oh, the stories I can tell…
Hey, XTO! Clean up this sludge pit! Cows have been drinking from it for about 4 years now.
About Sharon Wilson
Sharon Wilson is considered a leading citizen expert on the impacts of shale oil and gas extraction. She is the go-to person whether it’s top EPA officials from D.C., national and international news networks, or residents facing the shock of eminent domain and the devastating environmental effects of natural gas development in their backyards.
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This kind of behavior should be recognized as normal for gas companies. I have relatives that actually think, as long as a person has a lease, there should be no problem. Get everything in writing! HA HA HA!!!! What a laugh!
If you have a lease and are getting royalty payments in TX, you ARE getting screwed–it’s just a matter of how much!
Many residents of Bradford County and other PA counties sitting atop the Marcellus Shale, have not figured this out yet. They still have high hopes. The commissioners of Bradford County had their chance to find out the real deal when they visited Wise County, TX, last fall, but for some unknown reason, they opted not to take the Reality Tour which was generously offered to them. It’s a real pity.