top of page

                                                                               2024 September 1 

Hello fellow members and advisors,

We have several properties and several producing wells in Culberson County Texas.

(All our properties are in Texas.)

These assets are our most valuable assets and represent 70% - 80% the value of Keyser, LLC.

Conoco Phillips [CP] operates our assets in Culberson County.​

​

CP made allocation errors in allocating the oil and gas to specific wells over the last six years.

They recently discovered this accounting mistake.  

Unfortunately, they allocated too much oil and gas to our wells. 

Here's a summary of income, over allocation and current amount owed, $60,000.

Year    Income    OverPay
2018    $63,262    $3,520
2019    $48,990    $9,761
2020    $19,890    $2,986
2021    $60,605    $13,979
2022    $126,071    $30,320
2023    $32,874    $7,704
2024    $7,960    
Totals    $359,652    $68,270
       
2024 income applied  $7,960
       
Amount still owed        $60,310 (2024 September 1)

CP would like for us to reimburse them the over allocation.

They will continue to apply current Keyser, LLC income to the amount we owe them. 

Consequently, we will not be receiving income from CP until the overpayment is satisfied. 

2025 March

We accumulated $50,000+ and voted to pay CP off. (informal action by email - unanimous)

$50,814.07

bottom of page