I just got a call from the producer of the major gas field I sold a few years ago and retained a 7.5% ORRI. The CEO asked me if it would be OK to pay my Q1 ORRI on the gas in a few weeks instead of today as required by contract.
This is a good hard working young oilfield guy and I am always trying to help him from the little I know about the patch in general and said it would be fine this time. He told me that they are shutting in the gas only wells today and wait for pricing to come back this summer hopefully. Not that half a B a day would make a difference in the US but IF this guy is in the right frame of mind to operate only the oil wells for a while there must surely be some well healed operators thinking or doing the same IMHO.
Trade Well and Prosper...TODD1956