Jerry, that thought is essentially what your bonus is and you get it upfront for the term of the lease. No one ever guarantees that they will drill. In the old days, you would only get part of it every year. Much better now to get it upfront.
Was able to get a little info on Paul Gillham Oil from the occ website under well browseing. Sec 17 12N 05E has recent documentation 2015 for permit to drill, spud report, completion report, cementing report and a amended drill report is now a disposal well Payson 2-17. Dosenāt help me in my decision to lease. Just some info for you to consider.
Sharon, I go to Exxon, Chevron and other O&G companies for their reports and major universities have great research articles. I visit the sites below each day.
Martha, right now I check DailyFX for crude oil price and analysis. What sites do you visit?
Martha, thanks for the website info and good to know opec and others are cutting production, so prices can rise again. Everybody benefits at those suggested prices.
Martha, thanks for taking the time to list the links - very helpful.
Virginia and Sharyn, I forgot to list this one and itās a good one. http://diindex.drillinginfo.com/
Update for all near Township 15 North Range 5 East.
We were just contacted by an oil company. Turns out drilling has been taking place on our rights since 2008. Royalties have been held due to my father not updating our contact info. They have since found us. Distribution of funds in process. Thanks to Martha for Attorney info on Charles McBride. We are contacting him for assistance in future actions. Big thanks to all on this site for your help. If you are in this area check for any production. Paul.
Martha: I still have windows 7 and have been debating if I want to upgrade, I noticed on the database OCC site it had a notice in Red about having internet explorer to access.
Susie; American has filed applications for a 640 ac. horizontal well in 4-16N-4E which are still to be heard by the OCC. It is very well possible they are building the pad in section 9 to drill into 4.
Richard, Do you have Windows 10? I just installed it and now it will not unable access to records on OCC website.
Thanks,
Martha
Richard, Thanks, I just tried Internet Explorer and can now access OCC website. I wasnāt seeing the red notice on OCC when searching with Windows Edge, so it must not be a fully developed search engine. Thatās progress. lol
Joe, Oklahoma Tax Commission has well production records. Be aware that many wells are not fully producing due to the current oil glut and low prices.
Also remember that you are not evaluating just one well but the potential for additional wells. First offers are usually lowā¦
Where could I find information on well production in Lincoln County? We have an offer to purchase our mineral rights and I would like to do a rough analysis of the offer to see if it make sense to sell vs royalties (the mineral rights are currently under lease)
I just found out that I need to file a State tax return in Oklahoma (non-resident) for the signing bonus that I received in early 2015. Can anyone tell me what form I need and what I claim it as? I live outside the country and they charge me an arm and a leg to file it for me. They have never drilled on the land and Iāve never received any revenues to date. Any help will be appreciated! Thanks.
Andrea did you receive a 1099 Misc Income? Bonus should be just misc income. Try turbo tax state and either file online or print hard copy and mail. One of the first questions the program asks is āAre you filing as non residentā They also offer guidelines on what is misc income vs capitol gains.
Yes, Oklahoma āNon Residentā. Copy and paste link below.
http://taxes.about.com/od/statetaxes/a/nonresident-state-tax-returnā¦
Thank you Paul. I did receive a 1099 but do I file it as Oklahoma State income tax?
Re:34 & 35-13N-04E. I have been contacted by three different companies about my mineral interests. One is Jaketown Resources I, L.P; Paul Gillham Oil Company and Mineralmen Land, Co. Gillham apperars to be an operater and the other two landmen. Iām tired of having my mineral interests tied up for three years with no drilling. Does anyone have insight into whether any of these companies have interest in getting drilling activity started soon? Thanks.