M Barnes, I’m sorry I should have rewritten the area in question. Garvin county S25 N4 W4. Thanks
Mr. Foley, if a well or wells are drilled anywhere in a 640 acre section and it generates revenue does everyone with mineral rights within that 640 acre section receive payments, also if the rightful heirs to the mineral rights and the revenue generated have not been located during said production of the well/wells where and who would one notify that they are indeed the rightful heirs? Thanks
Rocky, start by searching all of your ancestor’s names in the unclaimed property database:
Rocky, friend me with the blue icon at the left. I can explain the spacing and some of the ways to get started. The old wells are generally not at 640 unless they are gas. You would only get royalties on the vertical wells if your acreage is part of the spacing for that well. The deed will give the exact description.
Rocky, go to the well browser link and enter the county, section, range and township that you have given on the location line. That will bring up all wells in that section. The 4 columns on the far right are a legal description of each wells location within the section. I believe they are read right to left the same as your legal description. Each descriptor makes the area you are looking at smaller. SE4 is the south east quarter of the section and the NE4 is the northeast fourth of the SE quarter.
Rocky, that will be the case for the new horizontal wells that are being drilled. They are being spaces on 640 acres. The entire section or even two sections as in the Wertz 1-26-23XH. When you pull up the list of wells drilled in section 25, click on the magnifying glass on the far left side next to a particular well name. Then select all images (IIRC). Look through those forms for information on spacing. I’m pretty sure none of those were spaced for the whole section. Maybe someone else will chime in on previous royalty payments.
Mr. Pfisch, I checked the website you suggested and there are 16 items on there for over $100 each. I am having the paperwork sent out to start the claim.I really appreciate it. Mr. Foley, with your help i am starting to get a little better understanding as to how this works. Thank you. Mr. Barnes, I will be contacting you shortly. I would like to thank all of you gentlemen for you time and knowledge. Rocky
Where do you go to pull up where wells are located?
If you have the well naame or API Number, you can go to:
http://imaging.occeweb.com/imaging/OGWellRecords.aspx
The well name search is a typical computer database search that requires a certain level of accuracy.
I’ve found John Paul to be helpful.
Mahaffey & Gore Attorneys at Law
300 N.E. 1st St.
Oklahamo, OK 73104-4004
(405) 694-4472
John Paul Alberts - jpalberts@mahaffeygore.com
(405) 236-0478 - Ext. 253
Can anyone recommend an attorney or law office I could work with, to prove ownership of mineral interest in a section in Garvin County?
Does this happen to involve a new title opinion on the Tussy Deese unitization in the south part of 1N-3W?
I have been offered a lease on minerals my family owns in sec 30, 2N, 1W and sec 24, 2N, 2W in Garvin County. What would be the going rate on lease bonuses with a 3/16 royalty provision in that area?
Les, that area has been pretty quiet for a while, so don’t be in a hurry to take the first lease. The range has been about $550 3/16 for the 2N1W area and $1200-1500 for 3/16th for 2N2W in the past few years. However, you need to ask what they are offering for 1/5 and 1/4 because I do see recent leases for that royalty. Who are they leasing for? More important to get a good strong lease that protects you.
M. Barnes: thank you for the good information. I suspected the average bonuses were more than what they were offering. Much obliged!
These guys may be the buyers of CLR acerage.
[Context: Citizen Energy II filed on April 29, 2016, that it plan to raise $261.8m. The company had previously raised $109m in two offerings since November 2014.The company is developing “horizontal play concepts in the Mid-Continent” with a focus on Central Oklahoma,
Or these guys who just got an assignment from Merit.
http://www.prnewswire.com/news-releases/rimrock-resource-partners-l…
July 28, 2016 /PRNewswire/ – Rimrock Resource Partners, LLC (Rimrock) today announced that it has closed a $150 million acquisition of assets from an undisclosed seller. The oil and gas assets cover approximately 24,500 net leasehold acres that are 100 percent held by production, approximately 2,100 BOE/D, and 3,100 net mineral acres located predominately in the Golden Trend portion of the SCOOP play.
Brent Crude nearing $50. this morning!