If you are force pooled in Oklahoma, do you still get a signing bonus and can you still negotiate your lease?

Oil and Gas Leasing Help
1

If you are force pooled in Oklahoma, do you still get a signing bonus and can you still negotiate your lease? I own minerals but not the surface. What are advantages and disadvantages of forced Pooling?

2

I think you are better off to make your deal with the oil company. If you do not, then they can, and will, force pool you. The state will pay you whatever the going rate for bonus is determined to be and you only get 1/8th royalty. I think the advantage to forced pooling is that they can only hold the lease for so long, if they do not drill. I got a hard lesson on forced pooling vs leasing. For information on this, join NARO and then order from them the booklet on forced pooling in Oklahoma. For my money, I prefer to negotiate and try to get the highest royalty I can, as I do not want to be forced pooled, hit a good well and only get 1/8th royalty, when I could have gotten 1/5th or 1/4th. But join NARO and you can get lots of good information through them.

3

Laura, I will look into joining NARO. Thanks for the info. Mary

Laura Reagan said:

I think you are better off to make your deal with the oil company. If you do not, then they can, and will, force pool you. The state will pay you whatever the going rate for bonus is determined to be and you only get 1/8th royalty. I think the advantage to forced pooling is that they can only hold the lease for so long, if they do not drill. I got a hard lesson on forced pooling vs leasing. For information on this, join NARO and then order from them the booklet on forced pooling in Oklahoma. For my money, I prefer to negotiate and try to get the highest royalty I can, as I do not want to be forced pooled, hit a good well and only get 1/8th royalty, when I could have gotten 1/5th or 1/4th. But join NARO and you can get lots of good information through them.
4

Laura - I am wading thru all the jargon associated with pooling. Last year I chose to be force pooled on a piece of mineral rights on land in Oklahoma and the forced pooling order gave 3 options. I could choose a cash bonus of $200 per mineral acre and 1/8th royalty. OR a cash bonus of $175 per mineral acre owned and an overriding or excess royalty of 3/16ths. OR participate in the cost of the well.... I chose the second option.....this turned out to be the same as the leasing company offered. Perhaps I don't understand the meaning of "overriding or excess royalty" means. Can you explain these terms? Thanks so much. Teddie