If first sales were reported on March 6th, what would be a reasonable period of time to receive division orders? Also, about how long before the completion reports show up on the OCC website? Thank You.
On the first well on an new project, it is usually 5-8 months before DOs have been sent out. If a subsequent well in the same spacing/formation, then it should be a couple of months quicker.
The operator is required to submit the completion report to the OCC within 30 days of completion. From there it is 2-6 weeks before the OCC approves and posts the report.
I’d say about last of Aug. or first of Sept. for those DO’s Jeanie. It’s according to who the operating company is. Our only experience is with Newfield so far but they took the whole 6 months to pay our first four month check and you know they always keep you two months behind from then on. When I called after we found out that they were drilling more on the same section they said it would still be the full 6 months again and they were right. About six months on the dot we got the check. (DO’s seems like were a couple of weeks before the check but can’t remember for sure). You do know about the law that says if they don’t get it to you in the six months they have to pay you 12% retroactive back to first sale if you have a clear title. If the delay was because of problems with your title then you still are suppose to get 6% when you get that cleared up. Hope this helps!
Thanks Linda and Rick! Time really drags by when you are waiting for that first “mail money” ha. You guys are the best to give us quick answers to our many questions, we appreciate your help.
Here is a link to Cimarex quarterly report, some interesting and exciting information about the Cana.
Here is a small part of what Cimarex has to say:
Looks like 2015 might be a good year
We are looking at acceleration in Cana. We’re, of course, kind of in the midst of a lot of moving parts here with just announcing this transaction. We’re in the due diligence phase, getting ready for the June closing. We are looking at a potential acceleration that would have additional infill drilling, really would be a 2015 issue. We might get started later this year. But obviously, we have other companies to coordinate with. Cana is a multi-company arena, and no one company can just do things in isolation. So we’re looking at some plans, we’re lining it up and we’ll get back to you when get a little more detail on it.
What are the reasons for protesting spacing? They are requesting 640 and I want it smaller. Any help greatly appreciated.
Liz, why do you want it smaller? Unless you own the whole section how do you know your part will get drilled?
Liz, go over to the Lincoln forum where we outlined some answers for you.
This is what I am trying to find out. I think with my limited knowledge it would benefit the mineral owner.
Liz, the majority of wells being drilled in this part of the country are horizontal and the longer the lateral wellbore the more it should produce. In almost all cases these wells are drilled on 640 acre spacing. Everyone who owns within the 640 unit gets paid royalties and multiple wells can be drilled in that space. If the spacing was say 80 acres there would probably be only one well drilled and only the owners within that 80 ac would be paid. Also I doubt if you would have any luck protesting the spacing unless you control a lot of land.
Does anyone know if there are any plans to drill in Blaine County Sections 31-15-11 or 24-15-11? We leased them in December of 2013. Thank you.
I posted by SCOOP wells list over on the Woodford shale forum
Please help. Mom owns 8 acreas of minerals @ 32T 18N 6W in Kingfisher OK and have been made an offer to sell. To our knowledge, there has not been any drilling in this area for the past 7 years (as this is when we inheritated the minerals) as we have never rec’d a check. Do any of you know if there will be drilling started in the near future and would you suggest selling or leasing. Appreciate any help you can give as I am not clear in this at all. Thanks!
Thanks M Barnes!
Gail. You can go to oklahoma corporation web site and enter in sections in your range and township to search each section for recent and past drilling activity. You have to do individual searches by section. I have royalty west in Dewey county. They drilled our well in 2011. Activity has slowed some since a lot of leases are tied up with wells but they can produce up to 6-8 wells pr section with horizontal drilling. I would not get in a hurry about selling. We had several offers but I refused to sell. I have 5 acres in Lincoln county that had not been drilled on for years but they drilled much deeper last year and went horizontal. My five acres generate about $130 a month from just natural gas and again they can drill more wells.
Thanks Larry Trook. Was a little apprehensive with the gentleman that called as he was wanting to (Wrap) the deal up then.
Gail, I can look it up for you when I get back to my computer. Hey Larry, long time!
Gail, you might want to go over to the Kingfisher forum because most of the discussions about that county are there. Michael is a great source of info.