Garfield County, OK - Oil & Gas Discussion

Comment

Comment by JW Anderson on May 9, 2013 at 1:35pm

Ron:

I really appreciate your comments on this forum.  With regard to the request from Drew about pooling, there are several of us who have in interest in what you might be able to share with the group or any resource you can direct us to.  It seems there are sometimes advantages to pooling; for example, pooling is limited to the formations listed in the order.  A disadvantage might be that you cannot dictate terms as you could by including your own addendum to the lease.

In particular,

1) How do they come up with the pooling numbers? And why, for goodness sakes, is 1/8 still allowed as an option, especially in areas of big production?

2) If you are force pooled, how are you treated with regard to "deductions" in gas sales - something that you would normally take care of in an addendum to your lease?

3) The people with "address unknown" get stuck with the absolute worst option (usually 1/8).  If these people are later found, do they have any recourse with regard to selection of an option?  This one is of particular interest to me.

Thanks in advance.

Comment by Ron McKenzie on May 9, 2013 at 7:46am

Garfield: Plymouth Exploration LLC; Peck No. 1-11H Well; SW1/4 SE1/4 SW1/4 SW1/4 (SL) of 11-24N-04W; 326 barrels oil per day, 853,000 cu-ft gas per day; TD 10,150.

Plymouth Exploration LLC; Sharon No. 1-10H Well; SW1/4 SE1/4 SW1/4 SW1/4 (SL) of 10-24N-04W; 127 barrels oil per day, 620,000 cu-ft gas per day; TD 10,200.

Plymouth Exploration LLC; Tennyson No. 1-20H Well; NW1/4 NE1/4 NE1/4 NW1/4 (SL) of 20-24N-04W; 93 barrels oil per day, 300,000 cu-ft gas per day; TD 9,420.

Payne: Calyx Energy LLC; Dean No. 34-2MH Well; NE1/4 NW1/4 NW1/4 NE1/4 (SL) of 03-18N-04E; 129 barrels oil per day, 523,000 cu-ft gas per day; TD 8,248.

Comment by Ron McKenzie on May 9, 2013 at 6:50am

http://imaging.occeweb.com/AP/Orders/OCC4346231.PDF

Drew here is a pooling where they were ordered to offer 1/4th as one of the options . It is next to you. If you would like accept my friend request an I will sent you my # and walk you through the pooling and how they come up for the options in the pooling.

Comment by Drew Thompson on May 8, 2013 at 4:02pm

Plymouth is offering either $650 with 3/16 or $500 with 1/5 in Section 23 of 24N5W. They don't want to offer 1/4 at all. Someone earlier reported a Plymouth pool that had a zero with 1/4. What is the disadvantage of not signing a lease and taking your chances with the commission at pooling? The representitive is saying Plymouth is giving the two figures above as the numbers they are going to the pool with. Does the Commission ever expand or change the numbers given by the operator? Thanks.

Comment by Ron McKenzie on May 1, 2013 at 6:47am

 M.D.   I can look up production info , but the posting is about 5 months behind so they are just to Dec.2012 now . I can also check and see if you were listed on the pooling order which could make you subject to the default option in the pooling.

Comment by M.D. Rodenberg on April 30, 2013 at 10:39pm

Ron.  it is not that good but someone local told me that they got it going a lot better from the completion report.

Comment by Linda Barbour on April 30, 2013 at 7:10pm

When our leases first started in 2009,we were only getting $40 and 5/32 but as the area has developed more the bonuses and royalties keep rising which is a good thing.

Most of our minerals are located in 8 sections bordering the Grant,Garfield county line...North/Northeast of Hunter.

Comment by Ron McKenzie on April 30, 2013 at 6:42am

 M.D. Where was that tract ? I was going to see if I could find out what kind of well they got.

Comment by M.D. Rodenberg on April 30, 2013 at 4:16am

Hey Linda, we had an oil company drill on our mineral rights on a place in that area back in 2011 without contacting us about leasing our 80 acres of mineral. (I just found out about this last week). Then it was $500 an acre now they are paying $950?  Hope we can get that when they straighten things out!  If it had been Plymouth they would have gotten it right as we have leased over 800 acres to them with no problem.

Comment by Ron McKenzie on April 29, 2013 at 8:08pm

 Linda  how far from 22- 24n-5w was your $950 lease ?

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