FYI-I am the Executive Director for a nonprofit organization-PU, Inc.
There is a pooling order on behalf of 89 Energy before the Oklahoma Corporation Commission due on September 3 (I believe). Our lease was up 7/31/2019. Last time we leased, we leased to Ace Energy, and Ace Energy leased to 89 Energy.
Ace Energy is named in the pooling documents. We are not. However, we are NOT leasing to Ace Energy this time. 89 Energy had offered to lease us, but now they have pulled their offer.
Honestly, I don’t really care if we are pooled or if we sign a lease. I just want to make sure that we are included one way or another. Since we are the mineral holders, not Ace Energy, and we are not named in any of the pooling documents, won’t 89 have to go back and amend the court docs to include us? Who do I need to notify to ensure 89 Energy realizes this?
Contact the attorney listed on the pooling documents and clarify your position. Since your lease was up on 7/31/19, the pooling list may have been drawn up at an earlier date. You may need to get a release of lease from 89Energy. Depending upon how your lease was worded, you may or may not be held past the 7/31/19 date.
You, or a company you may lease to, absent an amended or new pooling application, and “operations” have not been commenced, you can just “ride the well down”, ie: wait and see if a productive well is drilled, and if so PU, Inc., or it’s lessee, can insist on participating in the well by bearing it’s proportionate share of the costs to drill, complete and operate the well. Have you received a well proposal or AFE for the proposed operation ? Sounds like 89 Energy has cooled on the prospect - at this point I’m surprised 89 Energy hasn’t dropped the pooling…
I just got a letter from 1907 Land Company, LLC wanting to do a pooling lease in this very section of Stephens County, OK. Question: what is a pooling lease vs. a regular lease?
I didn’t know I had anything in Stephens County. I have mineral rights in Custer County, OK. Would a pooling lease have something to do with that?