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Grady County, OK - Oil & Gas Discussion

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Grady County, OK - Oil & Gas Discussion

Oil & gas discussion group for those interested in Grady County, OK. Share your experience regarding lease bonus, royalty rates, drilling activity, and oil & gas news in the SCOOP and SOHOT

 

Members: 754
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Discussion Forum

Agwam Area

Started by Wanda Cofer Gray. Last reply by Marcus T Feb 19. 11 Replies

10N-8W-Sec 6 Lease Offers

Started by Greg Lawrence. Last reply by M Barnes Feb 15. 7 Replies

Lease offer 35-9N-7W

Started by Jillian Nauls. Last reply by JBG Feb 15. 2 Replies

Division order property listing

Started by Jillian Nauls. Last reply by M Barnes Feb 10. 3 Replies

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Comment by m denney on February 17, 2017 at 12:08pm

How many of you (if any) are stuck in the Vanguard bankruptcy? Guess this has become a common issue? I was "Noticed" however our lease was sold to Titanium Exploration........I dont see why our royalty checks are affected by the Vanguard BK......and their phone explanation did not clear that up but anyway no payments coming!!  

Comment by Debra Cummings on February 17, 2017 at 10:20am

Has the Permian Basin become too hot?......It is not uncommon these days to see land deals selling for more than $60,000 per acre, which Wood Mackenzie says is 50 times higher than four years ago and still 10 times higher than the Bakken today......

As oil prices rise above the breakeven prices of other shale plays, the Permian becomes comparatively less attractive, especially given the high costs of entry. Oklahoma’s SCOOP and STACK plays, the Eagle Ford, and the Bakken could see their fortunes revive....

http://oilprice.com/Energy/Energy-General/Passing-On-The-Permian-Ha...

Grady County (Scoop) may not be quite as hot as it was, but it is still right up there with the BEST OF THEM!

Comment by Debra Cummings on February 13, 2017 at 11:17pm

if you draw SS benefits at age 62 before the full retirement age of 66, you've got to pay a penalty if you continue to EARN INCOME from work from 62 until you reach full retirement age of 66,..

The amount of the penalty varies depending on how much you earn.

If you earn more than $15,720 (in 2016), Social Security will deduct $1 from your benefits for each $2 you earn over the threshold. In the year you reach full retirement age, you can earn up to $41,880 (in 2016) without having a reduction in benefits.

As I said, it's all a little confusing to me.

Comment by Linda Gilmore on February 13, 2017 at 10:08pm
Ok Paula thank you
Comment by Paula on February 13, 2017 at 10:06pm
Let you know more have meeting with my CPA what gave me this info. Will let you know more.
Comment by Linda Gilmore on February 13, 2017 at 10:03pm
Thank you paula for the information
Comment by Linda Gilmore on February 13, 2017 at 10:01pm
But i understand what you are saying thank you for the information
Comment by Paula on February 13, 2017 at 10:01pm
Don't think sale of minerals has anything to do with your Social security , which I draw myself. Not classified as earned income. My minerals have been in my family for 100 years. Selling some of mine now.
Comment by Linda Gilmore on February 13, 2017 at 9:57pm
Oh ok i have not drawed any money on well it has not been drilled yet and buy out was a lot less then what you quoted and i have not sold yet it is in the works of being sold and i retired when i was 65 so for me that was when i was suppose to retire and draw social security
Comment by Paula on February 13, 2017 at 9:46pm
Long term capitlal taxes on sale is 15% period decducing what you have drawn off well in the past 5 years, used as base. You sell for $100,000 and have drawn $20,000 off your well in past 5 years you will pay 15% on $80,000.
 

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