Help please! I would like to know the pooling order options for Grady County 27-9N-5W by Roan Resources on 1-30-2019. Thanks!
The hearing is not until 2/19/19.
Thank you! If you remember, I would like an update when the information does become available.
If you are a pooling respondent (and they have your correct address), then you will get the pooling order and have 20 calendar days in which to respond.
Keep in mind that the 20 days runs from the date of the order, not date of receipt of the order.
I like to send via registered mail and file a copy with the OCC. Otherwise, you’re stuck with a 1/8th royalty which can last forever.
How do you file a copy with the OCC?
What are pooling orders? And is that something we need to look into?
When an oil company either can’t find someone for signing an oil/gas lease or someone REFUSES to sign, then a pooling order is issued to help you change your mind.
If you sign it, OK. If you don’t for whatever reason, then you automatically get signed up whether you want to or not. There’s a 20-day time limit within which to respond, which begins on the date the order was made.
They list the bonus and royalty offers, usually there are three (3) sets and you can pick the one you want. If you do nothing, either because you can’t be found, still refuse to sign, or wait longer than 20 days to reply, your forced choice will be made for you—where you receive the lowest bonus and royalty offer.
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Thank you for that information. It is very helpful.
You are welcome.
Also, the State of Oklahoma has a special website set up so you can see if you have monies from oil/gas minerals royalty/royalties; or, anyone’s name can be looked up to see if there is any money being held for them.
Mineral Owners Escrow Account
Type in: Oklahoma Mineral Owners Escrow aka MOEA in your browser and the site should come up.
Oops, made an error: it’s Oklahoma Mineral Owners Escrow Account.
The OCC has a good publication that explains pooling and other critical information for the mineral owners.
Usually it is the lowest royalty interest (1/8th) but the highest bonus. Still if you aren’t cash strapped, the highest royalty is probably the best option.
My understanding has been if “Forced Pooled”: the choice was made for you and the result was the Lowest and the Lowest. True or not?
If you are force pooled, you have 20 days from the force pooling order to respond. If you don’t, then the operator will pick the lowest royalty for you. SOOOOOOO important to keep your address current with the county clerk. The current pooling case for 27-9N-5W has a hearing date of 2/19/19. The case number is 201900721. There are 34 respondents.
John: If you don’t elect, your default election will be the lowest royalty option, that is accompanied with the highest bonus dollars. As royalty goes up, bonus dollars go down and vice versa.
Can anyone provide info on the pooling order for 20-7N-6W?
Still pending. When the order comes out, you will get a mailing if you are a respondent.
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Has anyone received information from the 2/19/19 hearing regarding pooling on Section 27 Township 9 Range 5?
Valerie:
It’s way too early for an Order. Can take 6-8 weeks, or longer, after the hearing, before Orders are issued. If you are a respondent, you will get a copy of the Order.
Todd M. Baker