There are 4 wells and a different operator listed for each well in the section. Not all of the wells are active. These are all old wells. Who has the right to build a new well in the section?
Either those operators or someone new who comes in and buys the right to drill in those reservoirs or new ones. They must go through the OCC and get the proper permits and spacing, etc.
Thank you. While there is more than one operator today in the section is there only one that would have the right to drill today, assuming they have not sold those rights? Maybe the last one to drill something in the section? Just wondering if an operator has to have all of the rights in the section to apply for a drilling permit.
No they do not have to have them all, just one acre!
That’s good info. Thanks much.
If you have really old wells, many of those guys are not horizontal drillers, so they may farm out their rights to someone who is more capable.
And then they would benefit in some way? Participation in revenue or profits I guess, but nothing that would change the royality owner portion?
Nothing changes your lease's royalty owner portion unless the current wells stop producing.
If you want to friend me with the blue icon, I can look up your area and tell you if there is pending activity.