Paul,
Unfortunately, yes. those leases would all still be held by the production from the respective wells on your sections. Another instance that marks the importance of a solid depth clause in your oil and gas leases.
I realize I am stuck with the leases now because of the terms and being held by production but in the 90’s horizontal drilling and fracking was probably just someones dream.
David, I have sent you a friend request. I have some info that may shed light on your situation, but I would prefer to share it privately
David,
In OGL recorded at 709/431, dated 9/1/1995, Richard Harding Davis being your predecessor in title, as Lessor, leased his mineral interest in the SE/4 of Section 28-17N-11W to Washita Production Company as Lessee. Said lease contained a provision that stated that "This Lease is subject to the terms and conditions of that certain Lease Agreement dated September 1, 1995, by and between Lessor and Lessee, the terms of which shall prevail in the event of a conflict between this lease and said Lease Agreement.” This lease agreement was not filed of record and was not attached to said lease.
You will need to find a copy of the Lease Agreement dated 9/1/1995 to move forward. It is possible that the current operator retains a copy within their current well file. You could also contact the operator and ask if the will send the pertinent portion of the Drilling Title Opinion or Division Order Title Opinion that pertains to your interest. This should be noted as a title requirement in any ownership opinion that was completed.
This likely is the cause for Echo requesting additional documentation from you. Most likely they wanted to see this unrecorded letter agreement and how it affected the leasehold estate that Washita Production Company acquired.
http://www.occeweb.com/og/PubAsst/WebRoyaltyOwnersHandbook3-2015.pdf
For all of you folks who just joined the forum, this is a wonderful book put out by the Oklahoma Corporation Commission which explains many of the basics that you need to know. Can download it and read at your leisure.
Horizontals have also been around for awhile. At first to drill down to reservoirs underlying surface locations that precluded well sites. Later to more fully access those resources.
Paul:
Fracking has been around for decades, and depth clauses were commonly used in the 90’s and before. Only horizontal drilling is the new boy on the block. The depth clauses were just as important on vertical wells - people just had to know to ask for them.
Help. Any one have a idea of what’s a fair leasing bonus for 11-16N-13W. Thanks
Charles,
A couple of miles to the north and east of you the prices range between $600.00 - $2500 with the average being $1,306 per NMA @ 3/16ths. Prices have been on the higher end of that range recently.
In January mineral leasing by auction in Section 28-16N-12W brought $2,453 per NMA. That is a bit further from you than those pooling figures though.
Thanks R. Story
Thanks again, R. Story
I always try to put extra clauses on exhibit. Gives the operator one more clue that your lease is different from their standard form
Does anyone know the name of the company operating the Strack 1-28 well, if it’s still in operation, at Section 28-17N-11W? I can probably find out on the Oklahoma Corporation Commission website, but someone here might know. Thanks much!
Two questions,please. Vitruvian.jpg Turner.jpg Can a shut-in clause and a commencement clause be combined into one exhibit A clause. See attachments. Any one hear of Vitruvian Exploration?
I have received two offers to lease my minerals in Sec 27-17N-10W and Sec 34-17N-10W. Has anyone received any offers and if so what are they offering? Has there been any recent activity in this area?
I am wondering if anyone knows if Newfield has a rig up in 8-18-13, just SW of Canton, Ok ?
If you are talking about Brown Farm 1H-8, it pud on March 6, 2016. SE SE SE SE of 8-18N-13W
Strack 1-28 being API # 01122804 producing from 28-17N-11W appears to be operated by Continental Resources.
I also received an offer for minerals in Sec 32-18N-10W. Same questions apply here as my other post.
Charles, Yes. As long as your wording is correct. Provisions do not even need to be on an exhibit. You can place your provisions into the body of the lease.