My siblings and I own mineral rights in 25 oil and gas wells that our grandparents left our mother. The income from these 25 wells is divided so many ways (my mother was from a large family) that we only receive a small monthly check of between $30 and $50 so we're a far cry from being Texas millionnaires. How do we know that the oil and gas company is pumping what they say they're pumping (and paying us for)? What federal/state agency oversees the operations of oil and gas companys? Gasoline service stations for example must have their gasoline pumps certified every so often that they are pumping the correct amount of gasoline and the customer is getting what he's paying for. These pumps are checked on a regular basis by the state department of labor. I wonder who, if anyone, certifies the oil and gas company pumps? These pumps operate day and night. It doesn't seem right that we have to take the word of the o/g company. It's very odd that 20 wells pump the exact same amount of oil.
2006-12-22
09:42:32
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1 answers
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asked by
Im2hard2please
2
in
Business & Finance
➔ Other - Business & Finance
Thanks for the info, but how do you know that Christabel?
2006-12-30
01:50:45 ·
update #1