I am very new to mineral rights and this site. I never paid much attention to, my mineral rights because I only got about 3 checks a year for a little more than $100.
After reading some postings by RWK , I realize how very ignorant about my mineral rights.I am.
I have about .0185 interest in 2 wells in 150-101-17 -20 , and 150-101-7.
These are operated by Murex and I think have been operating since 1984 or so.
I guess I am force pooled as I have never signed any paper that I know of.
RWK makes me think that my wells should be paid off by now and the 50 per cent penalty also.
How do you find out if a well is paid for and how much it cost?
Maybe the wells never produced enough to pay the well costs and penalty?
Who decides what the costs of the well are?
I love this idea of having the well paid off and getting 100# of the royalties minus production costs.
Why would the company running the well want to keep running it if you own 100 of your share?
Lon, the operator would not have drilled without leasing you if you were the sole mineral owner. The operator will of course operate the well for the 80% to 88% interest they got from all the other mineral owners.
A lot goes into whether your well has payed out. It probably did not cost that much to drill in 1984, the price of oil probably wasn't thrilling either. I believe the law has even changed since then, so you would have to find out about the older more liberal law, if indeed you are not leased.
Thanks for the info RW.I talked to my sister today and she said our mother had signed a lease of some sort back in the 80’s.
I guess no forced pooling . Too bad!
We just received royalty checks from KOG for JGarvin Jacobson 150-101-17-20-1H and Helling 150-101-6-7-1H. These are new wells and I think we must be force pooled because I haven’t signed anything. These have been pumping around 10,000 barrels a month. Maybe I’ll live long enough to see these wells paid off.
I’m getting 1/4 and 1/8 of my regular royalties . I guess because these are horizontal wells and I only get a piece of the action.
Better than none!
I have mineral rights in 150-101- Section 7 S1/2 NE 1/4, N1/2 SE 1/4, Section 19 SE1/4 and Section 20 W1/2. Can you tell if there are other wells on this property or drilling permits?
Thank you again for your reply and your time.
My fault for leaving out.
The above description is for McKenzie County, ND.