Our family has been contacted by Firethorn Holdings regarding our families’ holdings. I would like to find an attorney located in Edmond Oklahoma to handle the matter. If anyone could make recommendations it would be greatly appreciated
Our family has also been contacted regarding a lease for 29-28N-9W In Alfalfa County. Were you able to find any info. It seems a good deal since it’s shut-in. But I thought that was a permanent thing and it’s very confusing. It’s scary that they could take advantage of all of these scattered family members.
My main question is about a follow up call I received today. She said they had enough signers to move forward, but didn’t want me to be left behind if I don’t sign. That seems weird because whatever happens to that area would affect everyone. Am I missing something?
Need to clarify a bit here. If each one of you has your own mineral acreage, then you are each independent and can sign how you wish. If part of a trust, then that might be different. If you band together, then you may be able to get a better deal.
Are you getting shut in payments from the Puffinbarger 29-28-9 1H? Shut in time frame is only supposed to be for lack of pipeline or mechanical remediation. However, some operators misuse the clause. Go back and read your original lease and see if you have a time frame on your shut in for two years or if it is open ended. If open ended, then call up the operator and ask them what they are doing to get it back on line and when they plan to do it.
Is someone trying to top lease you (they want to go to court to get the well declared uneconomic?) I am not a fan of top leases for quite a few legal reasons.
Get some more information and do not let them rush you. If the tract is open to lease, then you will get force pooled if you do not sign now. They cannot “leave you out”.
For those in the family that are considering leasing, the terms of the lease are the most important and can hold you for decades. Do not assume the lease they put in front of you is in any way favorable to you. It probably is not, but can be negotiated. If you all stick together, then your combined acreage makes you more powerful and you can usually get better terms.
I believe we all just own a small portion of one well. It’s split out quite a bit due to the generation spread.
Your reply makes me happy that I didn’t just jump in and sign it. More research is needed. Thank you for your reply.
You all need to find out if you have royalties in one well or if you have mineral rights which include the well. Don’t sign anything unless you understand what you are signing.