Grant, yes, it can be from one option to four options at pooling. If you do not choose, you will be stuck with 1/8th which is not what you want.
Send your reply by certified mail and keep a copy of everything you send. You may need it some day. They are supposed to pay you within 35 days.
Your offer is about right.
Martha, Thanks again for the NARO pooling post. (A giant eye opener and must read!) and thanks for the Un of Texas B of R lease. Information is golden. Sadly, the more I read the more that I feel that the deck is stacked for years against the individual mineral owner to negotiate a reasonable lease with such a lop sided playing field.
Actually, I like force pooling in OK if you cannot get the lease terms you want out of the company. The most important ones are taken care of in FP. The Zones of Interest are stipulated, short time frame for āleaseā, implied covenant to market, mostly competitive lease terms. You only have 20 days to respond, so make your selection quickly, or you will be assigned the worst option which is usually 1/8th royalty. If you do not respond, your bonus money will be held by the company and eventually escheat to the state, so make sure you respond. You will only become a working interest owner if you choose that option. (except in ND)
Here are some objections to forced pooling in OK. http://www.naro-us.org/page-697394/761114 David James is an oil and gas attorney.
Thanks M. Barnes. After the OCC pooling hearing it sounds like we will have an opportunity to choose from several options? Do they (OCC) usually have options from .125, .1875, .20, .25 and bonus that are ascending in $ for each we can choose from? In an earlier comment from you please elaborate further on āshort time frame for leaseā Thanks again!! The last offer we received was .1875, $125 for one year lease.
NARO reports Lincoln lease High for Sept/Oct 2014 was $577 per/acre 3 yr 3/16th Low was $18 per/acre 3 yr 3/16th (someone got robbed). NARO will not disclose the legal descriptions for the highs and lows, but they do post āselectā lease offers. Like the ones below:
Oil and gas lease offer for $0, 3 years, and
1/4 royalty received in 18-12N-4E of
Lincoln County, OK
Oil and gas lease offer for $200, 3 years, and
3/16 royalty received in 26-12N-3E of
Lincoln County, OK
Hereās a good example lease from University of TX Board of Regents that you can take to a good O/G attorney and have them revise it for OK. Basically, you are supplying the lease, so only pay for a lease revision price, not a lease creation price.
http://www.utlands.utsystem.edu/forms/pdfs/LeaseAgreement44.pdf
The question posed by Grant Denny on Dec 1 is a good oneā¦can anybody answer it for us? If you end up in a forced pooling situation, how do you avoid the adverse mineral lease contract stipulations that you would not (try not to at least) agree to if you were able to lease pre-pooling.
M Barnes, you are right. I did not make it clear that 1 of the options is to not elect the fair market considerations and become a working interest owner. OK law does require you make all your election, working interest included, in writing. By the time I receive pooling orders there is sometimes less than 15 days to respond.
Stephany, Thank You! No I donāt have a form. Please pass along what you have. If anyone else has a form that they are using or could suggest please pass along too. The force pooling hearing was this past Monday. I was able to object and we have a new hearing on 6 Jan. I was told that the landman would contact me further possible negotiations. Thanks, M. Barnes, Ron and Martha for comments. Martha my quick scan of the NARO objections are informative. I will read in detail this evening. I Have had no luck finding the % and bonus for my pooled unit or the 8 adjoined units from our property. Any help would be appreciated. S/2 Section 19-17N-02E, Lincoln County.
I have production from the Oswego Lime in Sec. 23 15N 4E. What are the targets of the recent leases?
Is there anything going on in Section 7?
Jeff need Township and Range to check out your question.
Jeff not much activity in 12N-5E during the last year just some paperwork in front of OCC for permits in sections 10 and 15. According to the county records Jaketown is doing a lot of leasing in the area.
Has anyone received offers for purchase of their mineral rights?
Mr. Stout, you should read the user policy for the forum and place your adds in the market forum of the website.
Has anyone had any dealings or know about Blue Dolphin Production LLC?
Does any have any information on the legal action pending in Section 31 Township 17 north Range 4 east regarding Horizontal well units. If I have read it correctly, it appears they want to do test drilling but have not been able to locate all involved. Many of my relatives on the list sadly are no longer with us and many names I donāt recognize. I have contacted one spouse of a deceased rights owner and told them to respond.
Thank You M. Barnes, I am still learning this stuff and I appreciate your input. I have been forwarding this info to the few I have been able to contact.
201502442 Order issued for location exception. Order #642457 on June 25, 2015.
201502442 Order issued for horizontal well. Order #642456 on June 25, 2015. They will be moving ahead with drilling the well. If you know of deceased persons on the list, contact the attorney listed in the application or contact below and tell which Case Docket you are referring to: (the numbers listed above starting in 2015). If you know the heirs, then send the contact info to them. Pretty important since there may be multiple wells drilled here. That pad will have at least one well going north and two going south into the section below. Section 32 has about 7 wells.
AMERICAN ENERGY - WOODFORD, LLC
301 N.W. 63RD STREET, SUITE 600, OKLAHOMA CITY, OKLAHOMA 73116
They hardly ever find everyone, so they will hold money in suspense if there is a productive well.