I have a producing well that I didn’t know about for 19 months. When I got the first check there were production charges for the first 5 months. The next 5 months they charged me again, but then backed out those charges.
Is it possible to recover the production charges?
If you can pay about $80.00 go to http://www.p2energysolutions.com/tobin-map-data/superbase/well-loca…
and call them. They can give you all the detail you looking for.
Does anybody have capability to see who is majority lease holder on section 34 11 north 9 west?
Let me tell you how you can get this information yourself because you might find that you want more info about leasing in that area plus those details. I believe this is in Canadian County so go to their website below. You will have to register which is no big deal. The information is free…at least for right now. Once you have your ID and password, search for your info by STR and type instrument. Good luck. http://search.cogov.net/okcana/
When I filed for late royalty payments with XTO, I received 12% interest on all late payments all the way back to the first day of sales.
They are always about two behind, so don’t count the most recent two months.
I would appreciate any information on a well drilled in Blaine County, Section 6-14N-11W. Drilling started on it in October 2011 and I think it was completed February 2012. How many months should it take for the well to start producing and when should I look for division orders? Thanks for any help you can give me.
Michael, thanks so much for the information.
Angela, The Birds Nest 1-6H was completed March 11, 2012. Devon has 6 months to start making royalty payments. So I would say your division orders are overdue. I have the same situation on my well in Stephens County it was completed by Continental in February and we are still waiting. Once it goes past 6 months they must pay 12% interest on the part that is more than 2 months past due. I would contact Devon’s Division Order Dept.
Just discovered I had a producing well I knew nothing about. Sheridan stopped sending payments 8 years ago when they had a bad address for my father. Only when the funds were getting ready to be turned over to the state did they try and find us. We know have our 8 years worth of back payment, but should they be paying interest to us for sitting on that money all these years without trying to find us?
Sorry to brake the news, but your back payments will be taxed as ordinary income for all those back payments. We had a similar issue and our taxes went way up.
You might ask an attorney about the interest. It is usually on a new well, but maybe the same rules apply in your situation.
Victoria You said getting ready, have they turned it over to the state ? If they turn it over to the state the state takes a fee, I think 10% . Sheridan should not wait that long to turn it over to the state. Was your father getting payments at one time ?
They stopped sending payments in 2004. We got it just in time before it went to the state. All $1000 of it, so not too worried about tax rate increase.
Has anyone recently had an 18" pipeline put on there place?
Lori, Oklahoma law calls for 12% for good title and 6% for bad title.
Lori, just my opinion but you had good title all along, meaning that you didn’t have to file anything new or get any sort of judgement. I think they owe you 12%. I have had landmen make mistakes and cloud my title before, it’s not my fault they did so. I’m fairly certain also that they did not request documents from you which you did not provide, once again, not your fault.
I have a question about interest payments with, I hope, a not too lenghty explaination. My husbands step-father filed bankruptsy which included his mineral interests. After a certain time he found out the backruptsy trustee did not distribute or administer all of the debtor’s interest in several properties. He filed for an application for order of abandoment of undadministered property, which was granted by a bandruptsy judge and the trustee ordered to return the mineral rights. Husbands step-father later deeded this property to my husband and I back in the 90’s. Not much had ever happened with this property until 2010 when an oil company leased and drilled a well on the property which has been in production for 10 months. I called several times to find out when we would receive division orders and was told they had six months to do this, then there were problems with titles (not specified) then they hoped to have them completed by the end of August then in September that we were not listed as owners. I sent them copies of our deed, the application for unadministered property and the granting of that judgement. I was told the title was cured and we would be receiving royalty payments back to the beginning of production. I had also asked about 12% interest payment due to the timing and was told I was entitled to 6% not 12%. My question would be, is the 12% interest negotiable? Thanks for any input!!
sec 28-?-?
Sylvester, Newfield is drilling a multi-unit well in 21 and 28-2N/4W
Has Continental dropped plans to drill in Sec 28?
Rick and R W - thank you for your responses. I have sent a letter stating my case with the oil company on the interest percentage and was told it is being reviewed. I’ll let you know the outcome. I appreciate your comments very much!