Interest Type Question

I know what WI,OR,RI and UM all stand for on a Petrohawk Royalty Check but does anyone know what "ER" is?  I can't find it on their website.

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Permalink Reply by adubu on June 20, 2011 at 8:35pm

how about :Executive Rights----- don't know for sure. Pure guess!

In what content is it used on the check???
Permalink Reply by king john on June 21, 2011 at 7:15am

i think it sounds like "excess royalty" . i don't know of a situation where this would be applicable, but it must exist. i saw the term on my statement from xto. 

kj

Permalink Reply by Sylvester Deal on June 21, 2011 at 8:08am

Possibly, escrow

 

SD

Permalink Reply by adubu on June 21, 2011 at 11:07am
Rex--the best way to find out is simply call them and ask what it means-- should be phone number of royalty relations on check. Then let us all know what
Permalink Reply by DO Analyst on June 27, 2011 at 9:05am

Rex,

 

ER means Exempt Royalty, this a code that is now being used to flag royalty owners that are set up to be cost free.  My company has also started using this code as it helps accounting in their verification processes.  I would imagine within the next few months most of the companies will be doing this considering the problems many of us have had with differentiating the cost free owners prior to payment.

Permalink Reply by adubu on June 27, 2011 at 12:15pm
DO--Thx--- good info to know
Permalink Reply by Rex Houston on June 28, 2011 at 12:28pm
Yep, this is confirmed by Petrohawk (sort of).  Thanks for the input folks!

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