I am fairly new to the forum and very impressed with the community here.
I am looking for the Pooling Order captioned above. I have searched my files as well as online and am unable to locate it. I have reached out to Continental Resources and have yet to hear back. Continental Resources has asked us to choose a lease option pursuant to the Pooling Order #734387 and we have to respond in a week. Those options are detailed in the Pooling Order, thus my dilemma.
Any guidance or information would be very much appreciated. Thank you.
Are you a mineral owner or working interest owner? Companies have to send out poolings for all new wells drilled, since the info you provided is the Leona Faye 2 well, there has to be Leona Faye 1 well and if youre a mineral owner, you wont be getting the lease bonus since its the 2nd well.
Here you go. I have also attached a template letter for how to answer. Fill in the red areas with your information and choices and then turn them black. Send by certified mail return receipt.
0_Force Pool template letter.docx (13.1 KB)
If you are implying that you are not subject to the Pooling Order because they “missed you”, then you have no timeline. And if that is the case, my guess is you can get better terms than are in the order.
Im curious, were you not named in the pooling? Since you missed the pooling deadlines and the well was drilled, according to Mr. Baker on 8/11/2023, did they send you new paperwork and what did it say? Ive never heard of this, always thought that the rights, according to the language in the pooling would be given a set value and assigned to escrow even if you were an unknown heir?
With the caveat that I am very new to this, we received a letter dated 10/24/23 from Continental concerning Sec. 29-6N-6W, Grady County. The letter states that a letter with the Pooling Order was sent on 5/19/23 with the letter stating that an “election under the pooling order was not required at the time.” It goes on to say that Continental designates Leona Faye 2-20-29-32XHS and is sending the 10/24/23 letter to secure elections under the terms of the Pooling Order with a deadline of 20 days from the date of the letter. I could not locate any 5/19/23 letter nor a Pooling Order in my files. I do not see my trust as listed under Exhibit A listing “respondents pooled.” Thus, my confusion and dilemma as to how to respond.
Once again, I would like to thank everyone very much for you very kind responses and Martha, especially, for providing the Pooling Order and letter template. I am most grateful to you all.
Several Leona Faye wells. Note the name changes along the way. Look at the API numbers. The only one that is reported completed at the moment is Leona Faye 1-20H 3505124989. It is only in sec 20. The other one is supposed to be three sections. 3505124990
Depends upon which section(s) you have. The Leona Faye 1-20H is only in sec 20, so it will continue to have royalties as long as it is producing.
The other well has not drilled yet, so it has potential if drilled. Depending upon where it is perforated, the mineral owners will get royalties if they are within the spacing units of the perforated portions.
At this point, no-only two wells-one drilled and one not. Form 1000 is permit information. If you open them, they will show edits and corrections. Note that the API numbers have corrections as well. Several name changes and location changes along the way.
Form 1001A is the spud information. Form 1002A is the completion information.
