That is the correct formula for determining your share of production from the lease well.
Thanks Allen,
So Centennial has also spudded the Barracuda A, C, and D wells in March that encompasses our Section 38. That is in addition to the Barracuda B well that we are awaiting division orders on. Texas has about 6 months to get Division Orders out right?
I emailed Centennial at their owner relations email address to inquire when I might expect Division Orders. I wonât hold my breath getting an answer though.
So I get an email from Centennial saying the updated title opinion was in the hands of the land man and Division orders would be issued as soon as possible. Itâs been 7 months since first production, isnât that ample time or am I allowed to ask for interest in Texas?
Received a division order for the Barracuda "B"well in Section 38, Block 52, T7S, T&P RR Co Survey Reeves County from Centennial yesterday. Am happy with the decimal interest (which our land man is verifying) even if Centennial pooled the section with another entire section. Centennial is in the process of drilling three more Barracuda wells and I am excited to see what the first check is. Itâll have about 7 months worth of production on it for the B well.
How many acres was that for?
In the barracuda/centennial lease the lease encompasses approximately 1240 acres. Three different sections are involved. A production sharing agreement arrived on this well as well as for the three other ones being drilled. Our landsman (lady) had us sign, notarize, and return it.
I share a very small portion of block 13, section 217 with other owners. If this well eventually becomes productive, will I be notified automatically if a check will be due to me? Or do I need to contact the company for information. Since my portion is microscopic, Iâve been very passive about it but now am getting curious.
If you are leased and a well is drilled with production, you will get a Division Order to confirm your ownership decimal. It takes about four-six months after first sales. They are supposed to pay you within 120 days from first sales. You do have to sign the DO in Texas is order to get paid.
Yes, I am leased. Thank you very much for your reply!
Centennial drilled and completed 4 wells in the past 18 months. Three more are currently being drilled. Our cup overflowethâŚfilled with gratitude. These are the Barracuda wells.
Thank you for the update. Agreed - so much to be thankful for.