Is Coding while driving safer than Texting? I’m telling you it’s a jungle out there! Was sure glad we were in Preston’s truck on our last trip down as a rock was thrown into his windshild for a pretty good hole! That was only one of the several that hit the glass that day. They all act like they have to be there yesterday (reminds me when hubby used to work in the oilfields. He said he did feel like he had to rush everywhere he went). Thank the Lord for retirement! This is the most stress free we’ve been at Christmas in a long time. Not because of royalty money because we haven’t seen much of that yet but we bought the kids and their families livingsocial.com trips to Great Wolf Lodge early so no gifts to rush out and buy and for the first time in a long time we’re not worrying about dad and his health because he’ll be spending his Christmas with mom in the best of all places in their mansion above. We’re suppose to get up to an inch of ice here in the SCOOP the next day or two and so we won’t be making the trip to eyeball things for a while but I’m sure they can take care of that without us! lol I do feel sorry for those guys on the rigs as this Oklahoma cold wind can get pretty miserable at times. Prayers are with them. Merry CHRISTmas Everyone!!!
Thanks, Lynden, that is promising information.
Lynden…tell me again which section your folks old home place is on. I can’t remember which one we live on but it sounds like that’s getting pretty close to us. I know we live in 4n, 4w. I know you guys will be glad to gets some action around here but I’d rather it be in someone else’s back yard. lol
Bob Walner, Anadarko has assigned their interest to another division of Anadarko. You can see the paperwork in the Garvin Cty clerks website. I just looked at 28, 4N, 4W because of my interests but it also cuts down on the amount of filings to scroll through. Continental has also made a deal with Sheridan who actually has the old Anadarko vertical Woodford wells. Continental applied for and received spacing for 28, 4n, 4W within the last two months. Also, Newfield obtained 3D seismic of that area a couple of years ago.
Linda, it is section 28, 4N, 4W. Garvin Paint Co road is the south section line. If you are in 22 you are catty corner to 28.
Merry Christmas to all on this board. The sharing of knowledge and friendship here has been a wonderful gift throughout the year. Thank you all.
Energy Lease is sending out 1500 lease renewal checks for section 9 of 2n 3w. I got a renewal check. Our lease expires in March but the renewal clause was taken out. So time to renegotiate.
Karla,
My brothers and I are in the oil business. We negotiate the renewal clause out of all leases we sign. Normally they call but this time they just sent a check. No letter or anything. We called and they agreed no clause was in the lease. Check was at $800/A when they pooled at $1600.
Merry Christmas to everyone of my friends on the forum!!
Mike, why did the renewal clause get taken out? Mine in section 17 is up in May but they have a two year renewal. How soon do they normally contact you?
Steven,
The first check would be substantially higher because it should have been for 4-6 months of production. Assuming we are talking about a woodford well you will still see a pretty steep decline. Look at you stubs for the sales months. The second should be the largest. production at the end of 2 years will likely be 40-60% of that second month. At the end of 4 years it will be about 15-20%. The the decline should not be as steep. What well are you talking about. There could be other factors. Shut-ins, production problems, etc
That’s one of the many problems with this whole situation… I’m 1-not educated enough and I have no clue of what’s going on, I don’t know about anything relating to much of anything such as how many wells of the names to these wells… My family seems to be too busy or they don’t know themselves or if I’m being kept in the dark on a bunch of info, I’m guessing to inform my attorney and get a referral to someone within the firm on expert advice on this :’(
Steven, I sent you a friend request so you can send me shots of the stubs in a private message. I don’t think you need to spend 200-300 an hour on an attorney. I can take a look at then tonight. I’m on a walking break I’m a half marathon right now! 
Steven, those numbers seem about right in terms of decline. As Rick pointed out, they well production declines over time (but continues for a long time). The first check is a one-off catching up for 4-6 months of production; the next couple are more representative of monthly amounts and they will slowly decline. There will be some ups and downs as they do work on the well, etc., and those are unpredictable, but the general trend is well known (you will find lots of discussion of it if you look back in the forum).
Now the good news is that they will likely drill more wells over time in your royalty interest – hopefully lots of wells. But that is a long term opportunity, think years or longer, not months.
I doubt anyone is keeping you in the dark; most of the time folks just don’t know what they have or what to expect on royalties – they are just happy to get the check. Read back on this forum at least a few months, more if possible, you will see there are lots of folks starting from where you are & lots of super helpful folks on the forum that will help you get your arms around it with a little time.
Lastly, if cash is most important to you now, you can explore selling your interest. There are lots of folks that will pay you cash now betting that it will make them more money over time. In the long run you will likely make more money holding onto the interest but that doesn’t matter if you need the cash now.
Wish we could tell you that well would suddenly start gushing lots more oil and the Beverly Hillbilly’s theme song would play in the background, but that is very very rarely reality in a world where most mineral interest owners have a small faction of a big pie.
Chris M-well said!
Mike…Was wondering how you found out how many checks they were sending out. Heard some wells over that way really came in good! A landowner said he heard that one northwest of the Studdard came in 1000 bbls. of oil and another came in 800 bbls. oil, he said. I was wondering if he meant boepd instead of all oil but I didn’t question him about it. He said the biggest one was over on Joe Parks’s land. Anybody know which section that is or what the well is called?
The 1st was near $7grand the 2nd $1,300 and this month’s to be deposited is barely over $1,000 is this going to continue??? I’m out of work and out of unemployment benefits and it’s a tough time for getting work in my industry public aid will not even come close to helping, now I’m bout to pooh in my pants I don’t want to be forced to give up my things (car, apt, etc.)
Let me know if you want me to upload partial snapshots of my stubs so you can give me some insight on how this is working
Noticed where oil went back up over $100. a barrel yesterday. Yea!!!
Rick…Where is your marathon today?