Have mineral rights in two sections nw and ne 4of sec9 t15 5w IMand e/2 sw4 sec 4 15 N 5w IM and family does not converse. I have received info from Corp Commission but nothing showing that anything has been drilled on either, I have also been by both properties and have not seen anything, however my brother claims they had drilled… can someone tell me whether this has happened or not because have not received anything and I cant seem to find anything showing its been drilled upon.
Anthony:
Contact Oklahoma Corporation Commission - 405-375-5570. The Commission is a regulatory agency for the State of Oklahoma regarding Oil and Gas Industries. Give them the legal description and they can update you regarding this.
Amy, congratulations on a nice well. It would be beneficial to others on the list that has Newfield leases or has had wells drilled on their minerals to know how long it takes to get paid and some other particulars. I have minerals in 16-17N-9w (Luna well) and the well is being fracced right now. I would like to know how long it takes for Newfield royalty owners to get paid, etc. Thanks
Anthony, you can look up the completion report for the Airheart 1505 5-4MH on the Corporation Commission website.
http://imaging.occeweb.com/OG/Well%20Records/1DD49E5F.pdf
67 bbl/day 106 mcf/d -not a terrific well. It is on pump and open choke.
9 has a well that spud in 16 which is why you don’t see the surface location. 157 bbl/day 140 gas pumping on open choke. Not a barn burner either.
Operators have to pay by six months after first sales or they will owe you a statutory 12% interest penalty if your title is good and 6% if working on curing a title.
2 16n 6w- Some old oil wells. No new horizontal drilling apps at the OCC.
No, the lease bonus is only a one time thing. The royalties are your only payments in the “secondary” period of the lease. That is why is is important to consider the royalty terms in signing a lease. Usually, the higher royalty will pay off far greater than a high signing bonus for the lease.
The caveat to what I just said was if you have a depth clause. You can lease for deeper if contacted later. If you are pooled at certain reservoirs, then you can lease or be pooled on other shallower reservoirs (or deeper) later. Operators usually drill the deepest reservoirs first to hold any shallow zones.
I have a quick question. After you enter the secondary term of a lease and are held by production, do lease bonus payments continue every 3 years (or whatever) per the original lease or is it just the royalty at that point?
Scott, Here is a great law review article on depth clauses. http://www.mcginnislaw.com/images/uploads/news/03-03-01_George_dept…
M Barnes,
Thanks for your quick and detailed response!
has any body seen any sign of pooling in 16n 6w other than section 11
FP $1500 3/16 $1000 1/5 for 6-18N-5W recently.
Staghorn is force pooling in 17-18N- 05W
Need advise. Just got an offer to lease Sec.1-18N-05W for $650 for 3/16th and 3 years, or $250 for 1/5th for 3 years.
What are leases going for? What’s going on in those sections?
Lynn, Payne Exploration is force pooling in 18-18N-05W and drilling is headed your way. I’d try to lease for $500 1/4th for 3 yrs - without 2 yr extension.
Again, the answer is relative to the geology. Also consider whether the well is a single unit or multi unit well. What someone posted a while back is the following:
poor < 50 bopd
good 50-150
fine 150-250
super 250 plus -all these for a single unit well that was vertical. Horizontal numbers would need to be better in my mind.
However, as a geologist, I can say that even those numbers are relative. I would pair them with the gas numbers. Low oil and high gas could be a super well. Also would have to want to have a feel for the costs associated with the numbers, conventional well or shale well, how close to pipelines, etc. An individual mineral owner also needs to know their net mineral acres and their royalty percent and whether they have post production costs taken out. You can have a great well, but if you have a bunch of gas and you have post production charges, it can eat up quite a bit of your royalty. Complicated answer…
The answer to that is relative to the geologic area you are in, but in Kingfisher, 10,000 mcf per day which is about 300,000 mcf per month.
In the Kingfisher ‘STACK’, the Meramec is a Mississippian age shale that lies directly above the Woodford, not to be confused with the Mississippian Lime formation to the North. Newfield’s initial wells were 900 -1000 boe/d, but recent drilling and completion techniques have greatly improved production. Even newer techniques are being developed right now, so maybe we should consider possible: poor > 500, good > 1000, fine > 2000, super >3000 plus. M Barnes is right, have a no deduction clause in your lease. Also, get 1/4 instead of 1/5th royalty.
Same question except for oil- what would be a good monthly production range for oil? It would be a horizontal in 31-19N-8W (formation:Mississippian)
Thanks- That will help me a lot.