Oil and Gas Royalty Payouts ** Important Update ***

Wow in 2017-2018 over 3.5 billion of Oil and Gas royalties were paid in, just think oil was discovered 119 years ago in Texas, and the biggest part of the boom paid a lot more than that in, in total in 2019 – 2.173 billion.  Disclaimer:  Normally you get  updates through other channels but because you are a part of this network, we wanted to give you a very important update.

How to get your payouts, and information is below.  If you have not joined the over 11,000 on our email list to get breaking news, sign up here 

Some of our heirs  (including our volunteers) have received word that the case is being litigated outside of the courts.  This makes sense as it would be an embarrassment to the State of Texas and big oil and gas companies.

         This literally changes things for us now.

This change, is big and now we have to make action, or we will not get paid out.

We don’t understand why those in charge of the cases are not advising this, but maybe they have not had time to think about it or too busy fighting on a limited staff.

Think about these very important questions and facts.

How will they pay you?  This is a big problem, you don’t just have one oil or gas company otherwise it would be like any inheritance case, no this is much more complex.  It enters a slew of possibilities. They could each pay each heir direct, but who will audit that ? Then you have the big problem of the billions that the State of Texas is holding.  Do you think they will just pay it out under the table without any Legislation ? Heck no they won’t!

If you don’t donate to the projects, then it will be impossible to get the payouts because nothing will get done.

This is the point, nothing has been done since the litigation was started, it just can’t magically happen.  We could make a new project that would create a task force that would audit the payouts coming directly from the oil, gas and mineral companies to each heir.  This seems very complex, so we think the State would recommend that they oversee it  and force the oil, gas and mineral companies to pay into them, so they can ensure each certified heir get’s their rightful payouts.  This also would make sense for the oil, gas and mineral companies, as they don’t want to go through a third party to make payouts.

Here is a list of laws and legislation we are working to coincide with the settlement see this link Bill 82xx and 85xx

 

First they will need some kind of certification you are a legal heir.

This bill (law) will help you prove it.  Finally the State of Texas still must accept declaratory judgments that prove you are an heir.  If you want them to recognize you then please donate to get on the list and get this going.

Bill 81x – Declared Descendants linked to official accounts at the unclaimed property

This bill  will be introduced to help at claimittexas.org to be recognized as an heir.  What this bill would do is match the State of Texas comptrollers office records at claimittexas.org to an official court judgment declaration (certification that you are a legal heir of the property).  Currently they still are not accepting declaratory judgments.  The courts would decide (many of the heirs already have this completed as declaratory judgment) who the latest living heir is and has a right to claim. A new bill is being worked on, to make it to the house, because the last bill there was not enough outside heirs pushing and the representatives were pressured with more important legislation. Without the bill, the State comptroller is not accepting declaratory judgments, but this law would force them to, and without a law, they don’t have to comply to anything, so this is the first needed action. We don’t need another lawsuit to ensure that the State is accepting legal heirs with official court documents and then another round of legislation to get a law passed, we need this now to ensure when they are set to pay, we can claim and get paid.

 

Bill 82xx – Payouts oversight and audits  

There is another problem also we are working on a bill for the State of Texas to audit all oil, gas and mineral companies to ensure all payments for all wells/lands were paid in correctly (Bill 85xx a bill that was supposed to be passed into law but wasn’t yet we are working on it to ensure they get it done).

This bill will ensure audits of the oil, gas and mineral companies to make sure they are paying in.  It will audit the State of Texas to ensure payments are paid out correctly. This is essential (like your bank statement), we talk about this more in this article.

 

Bill 85x – Help the State of Texas regulate the royalties paid out.

This is another bill that did not even make it to the second round, nor to the floor after the commission, because everyone was focused on legal action instead of getting laws passed. It was supposed to help make sure the royalties are being paid out and the royalties are being paid in, and punish the oil companies for not paying in.

On that note, do you want to have to do a lawsuit every year to regulate what the oil companies have or have not been paying in?  We don’t

So this makes it very important that we act now! There is less than

to get all these things drafted, in order and lobbyists to ensure they are brought to the table or we have to wait until they meet in 2023 four to five years from now, we don’t want to wait that long, do you?

 

Here is the project status so you can see how many people are involved, which as of this writing everyone is just waiting and doing nothing but if next year’s legislation passes us, then we have to wait another 3 1/2 years.

Why not leave it up to the attorneys to get these bills passed?

This is great question, they have repeatedly said they are not interested in working anything out with any new bills, however history other experts already have advised a payout from the State cannot happen without these basic laws we are working on to get them to release it. The only other alternative is another decade of lawsuits where a court would force them to pay out and do the things that the bills would do by enacting new laws and procedures.

What do you need to do, to get your payout, the answer to the question:

 

We need funding to get these bills passed, we have to work like you also, so we are accepting donations for our team so we can hire lobbyists and people to get these projects done.

Everyone who makes a donation over $100 will be on the list.  We will also contact those on our mailing newsletter list to help get involved, by writing letters and making phone calls.

 

Together we can reach our goal

and that goal is minimum, it may take more, so if 50,000 gave $10.00 then we would have only 10% of the minimum goal, but most likely only a few will get involved, we need 5000 to to give $100 and those would be on the bill sponsor list, and we would push for those who are giving $100 to be paid out first. We think it will take about $50,000-$100,000 now because we have more than one bill as we are in talks with the representatives, others may be needed. These must become law for them to be able to give out payments. So we updated our first goal, and will get recommendations.

Then we have to ensure they have a system how you will get paid out, by check, by bank, by multiple payouts, weekly, monthly etc.  That must be another bill .

All of this said we need you, your family, your groups all to get involved today, the clock is ticking.

Photo source: https://www.txoga.org/oil-and-natural-gas-royalties-paid-to-state-up-18-totaling-2-0-billion-in-fy-2018/