Nearly 200 people from West Virginia, Ohio and Pennsylvania showed up for a free workshop at the Wheeling Island Hotel, Casino and Racetrack on how to understand royalty checks from the oil and gas industry.
Participants were able to take a good look at a sample check, and understand what the numbers on the royalty stub mean. The featured speaker Thursday night was Steven Karabin with the Rhino Group. Karabin has worked in oil and gas minerals management for over 25 years.
He was invited by the law firms Gold, Khourey & Turak, Guida Law Offices, Rokisky & Associates, and Berry, Kessler, Crutchfield, Taylor & Gordon, along with the extension offices at West Virginia University and Penn State University.
The goal is to make sure people receiving royalty checks are getting a fair deal from the oil and gas companies. Other topics included a shale overview, trends and production, Appalachian basin royalty calculations and decline curves, and royalties and legal issues.
“I don’t think that many people looking at their royalty statements can really be sure that it is they’re being paid what they’re supposed to be being paid, according to the terms of their lease. So we wanted to sponsor an event here tonight, bring in some experts, to help people understand how to interpret their royalty statements so they can just assure that they’re being paid what they should be being paid,” said Jonathan Turak, of Gold, Khourey & Turak.
Turak added he hopes people walk away from Thursday’s meeting with knowledge and education. He said people need to hold oil and gas companies responsible when it comes to leasing land and drilling.
The event actually had to be capped at 200 people due to an overwhelming response, but Turak said they plan to hold more like it in the future.
If you have questions about leasing your land, you can call Gold, Khourey & Turak at (304) 845-9750. They work with a number of law firms on oil and gas cases.