Date: April 15, 2019
The energy industry has faced many challenges over the last few years, and unfortunately, that has meant several companies have been forced to cease operations.
So what happens when an energy company stops paying a landowner their surface lease rentals because it can no longer meet its financial obligations? The first (and most important) step is being aware of the situation. For many landowners, it can be months or even years before they realize the cheques have stopped coming. These are busy folks with lots on the go with their farm or ranch. That’s why our clients count on us to take care of the details for them. With a combination of Welltraxx technology and a dedicated team of account managers, we are here to assist them every step of the way.
For Alberta landowners, under section 36 of the Surface Rights Act, they can apply to recover the monies owed to them from a government fund. This process involves a detailed initial application to be submitted to the Alberta Surface Rights Board. Subsequent annual applications are also required to ensure rental payments are received until the properties are sold or abandoned and reclaimed.
Our Welltraxx team of oil and gas administrators specialize in surface lease rental recoveries for landowners. We initiated over 1,500 applications for our clients, and are a professional, cost-effective solution for landowners to turn to. A story comes to mind of one of our clients in Southern Alberta. This client had an energy company with 30 leases on their land go bankrupt in 2014. Since 2015 we have been handling the entire process for them. This way they can focus on running the farm and not a mountain of paperwork sitting on their kitchen table. To date, we helped recover every dollar owed in rentals for those leases.
This is just one of many of our client success stories that we like to share. If you need assistance with surface lease rental recoveries, get Well Connected and contact our team today. Our team is proud to help landowners across Western Canada.