If a single well is drilled into 3 sections, and I have an interest in all 3 sections, can the Operator hold the entire interest under suspense because of a title problem on one small tract within one section of the unit? The tract with the title problem represents only 2.16% of my total acreage within the unit. The rest has no issues.
Probably not, if in Oklahoma they should owe 12% on portion without issues.
Thank you! It is in Oklahoma and their letter states that the revenue will be held in suspense until appropriate curative is provided. I assume they mean revenue for the whole thing, but I guess I’ll see. The Title Requirement letter was sent to me after I had already received and returned the Division Order.
Definitely remind them that the curative requirements doesn’t apply to 97.86% of your interest and also that 12% interest applies to that portion.
Send your interest request by certified return receipt mail and hang onto that green card so you know who received it.
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Will do…Thank you!
Put your owner number and a description of each set of acres for which you are requesting the interest.