Just FYI, thought I would post this old article on Oil & Gas Financial Journal.
http://www.ogfj.com/articles/2010/07/utica-shale_decline.html
This article points out higher then “usual” declines rates in the Utica Shale in Quebec (75%). While referencing Marcellus shale at about 50% decline rate over the initial 5 month period.
Wilson
Wilson
You have to write the company a letter requestiing the interest. They won’t automatically give it to you, but they have to if you request it. They have 6 months after the original month of the first day of sale. Do you mean in section 19? I have 10. My family also owns 80 acres of mineral rights in section 34 15n 12w west of Greenfield. Continental brought in a well there in Dec. It’s called the Duncan.
I have interest in a Blaine county well-Marlin- in section 19 west of Watonga. The first date of sale was Oct.3. Continental still hasn’t sent me any division orders on this interest.
Make sure they have your correct address. I had an issue with XTO Energy about this. On one well they had my address correct, but on the second well they did not have a correct address. They where behind 19 months on royalties!
sorry 2,450,000 cf of gas
How many acres in section 17 do you own mineral rights to?
Natural gas is going for about $2.50/1000 cf today.
Thanks for the good info. It all helps.
The full well name is Marlin 1-19H and is located at 19 16N 12W. I am looking for some production information, but am not have much luck.
You might ask some of your neighbors if they have heard anything about the royalties.
Continental told me the production rate 50 bopd and 245mcf on Oct. 3rd They tell me they are waiting on doto- division order title opinion. The corporation commission told me the date of the check had to be April 30 or they had to pay 12% interest APR.
From the OKC news paper, this caught my eye. These wells where recently completed in Blaine Co.
Blaine: Continental Resources Inc.; Barnett No. 1-5H Well; SW1/4 SE1/4 SE1/4 SE1/4 (SL) of 05-14N-12W; 4,341,000 cu-ft gas per day, 5 barrels oil per day; TD 17,921.
Continental Resources Inc.; Duggan No. 1-3H Well; S1/2 SE1/4 SW1/4 SW1/4 (SL) of 03-15N-12W; 194 barrels oil per day, 2,355,000 cu-ft gas per day; TD 16,820.
Continental Resources Inc.; Neal No. 1-15H Well; NW1/4 NE1/4 NE1/4 NE1/4 (SL) of 15-14N-13W; 4,685,000 cu-ft gas per day; TD 18,759.
Continental Resources Inc.; Romack No. 1-3H Well; SE1/4 SE1/4 SW1/4 SW1/4 of 03-14N-12W; 2,333,000 cu-ft gas per day, 40 barrels oil per day; TD 17,700.
BTW thanks for the heads up on the 12% interest penalty.
Found the drilling permit, DUNCAN 1-34H. I have not found the COMPLETION REPORT. Looks like this is a vertical well.
Daniel The H in the Duncan 1-34H means it is a horizontal well. It could be up to a year before a production report, the fine for not filing the completion report in six months is so low that many of the majors take their time in reporting, it helps in acquiring new lease area at lower bonus prices around a completed well.
I’m looking for landowners in Blaine, Major or Woods counties who are currently hosting oil or gas rigs on their property. I’m a reporter for the Oklahoman and NewsOK, and I can be reached at zcampfield@opubco.com. Thank you!
Linda,
I sent an e-mail to the OCC about the late (19 mos.) royaltie check from XTO and this was there reply.
"
The Corporation Commission does not have an jurisdiction the area in your complaint. In Oklahoma the lease agreement between the mineral owner and the company is regarded under the law as a private agreement between the parties, and any dispute regarding performance under that agreement would have to be resolved between the parties or failing that, in district court."
How where you able to get some resolution on your late Check?
I was told long ago, THE FIRST PERSON THAT MENTIONS MONEY (dollar amount) LOSSES.
To Daniel Thompson-You have to write the Oil company that leased your mineral rights. XTO and ask them for the interest on the late payment. I haven’t gotten any resolution on mine because I haven’t received a check yet. It should have been here April 30th.
To Lanny Sells That sounds low to me also. I wouldn’t lease for less than $750 an acre with the 3/16, 3 year. I know leases have gone down the last few months. Call someone else that is in your section and see what they have been offered.
I own minerals in SE/4 of Blaine Co. 3-18-13 and just had a company named Data Land Consulting made a lease offer of $ 200.00 per acre with a 3/16, 3 year clause with also a 3 year option to re-lease. We look to be in the oil part of the Woodford map. This sounds like a lowball offer and I think I should wait it out. Any advise ?
Thank you Daniel, I believe that is good advise.
I have mineral rights in 19-15-10 They began production on a well on Nov. 7th. I haven’t received any information from Continental regarding division orders or royalty. I called Continental and was told there was some kind of problem, but they weren’t sure what is was and would call me back. That was last week and haven’t heard anything yet. Anyone with rights in the same section? Just wondering if anyone knows anything about this one. Thanks.