I own several small State of Wyoming oil & gas leases in three counties and I would like to know if anyone has any experience with being pooled in Wyoming. I look at being pooled as a good thing and I'd like to know how to better position myself in the state in order to make my chances of being pooled greater.
My investment plan for O/G leases is I actually hope I get pooled. I do not intend on doing any production myself and I am looking for the ORRI. The production costs the operators saddle you with don't bother me either. I look for Wyoming leases within my budget that are being auctioned within the two mile radius of an operating or planned well. Per Wyoming rules, any lease holder within this two mile radius has to be notified by the producer at the center of that 2 mile radius that they are planning on sinking a new well. If I can get within that same circle of an already producing well I also stand a good chance of being pooled.
To me getting inside that magic 2 mile circle gives me a good chance of being bought out, leased, or pooled. Being pooled seems to be in my best interest because I see it as the easiest way to manage my lease and profit at the same time. I also look at it as "they came to me, not me to them" so it gives me more negotiating power and possibly the upper hand. Of course I'm also seeking out a buyers but I like the pooling idea.
Am I going in the right direction with my thinking? Any opinions will be greatly appreciated.