I have an interest in a section that I am already receiving royalty from the discovery well. The operator completed 3 increased density wells in the same section. First production was a year ago. When does the operator have to pay statutory interest in OK?
Statutory interest starts 180 days after the date of first sales.
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My family has mineral interests in OK. When an O&G company drilled a producing well, we would be paid in the 4th month. I was told years ago mineral owners have to be paid by the 6th month. After 6 months, O&G company had to pay interest. You should receive from O&G company a division order(s) for the producing well(s).
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