Harley is that also known as a division order?
Osage Exploraration has leased about 31,000 acres in Logan County in conjunction with partners Slawson Exploration and US Energy Devolopment. This is a link to an Osage investors presentation which has some good information on Logan County drilling activity.
http://www.osageexploration.com/i/Presentation/Osage_investor_prese…
This is Cathy’s other half again, a little update on the two wells at Pawhuska in Osage County. They definately are oil wells. Went into Pawhuska and got my hair cut aand found out nothing. Went a little higher, talked to Pres. of C of C. ENCANA Corp. did the drilling. Process started last May. They had to pump 2 million gal. of water from Pawhuska lake to drill and frac. which caused controversy,but money won out. Reason tank battery is so large is there are 4 wells pumping into it, not just 2. All this info and I stilldon’t know how good the wells are!
Reminds me of the reports that there aint no more gold in California, but only 3 months ago, a side of a mountain fell into the Pacific, and guess what they found? Enough for a new gold rush and it is on. LOL
Cathy’s other half,
Regarding the wells in Pawhuska in Osage county. You’d think that after nine months there would be completion reports on file with the OCC–for at least one of the four? Does anyone know if there is a statutory requirement for the timely submission of said reports? I could never get a strait answer even from the OCC’s Consumer Division!
What I find even more disconcerting is that the OCC doesn’t follow-up, provide oversight, to confirm the production reported by the oil companies from any given well. Donna in the Consumer Division told me this herself. Is this something mineral rights owners need to be concerned about or am I mistaken here?
None of us want to be taken but the forum has supplied ample evidence of what r.w. kennedy wrote about back on January 28th in his response to ronald von wilson as regards " a story of greed, stupidity, deception, fraud and probable corruption with a lovely paper trail of recorded and court documents" ! Just saying!
Steve The Completion reports . There are time limits to file but the fine is small and there are a lot of ways to put of filing . The Comp. report has very little to do with with the actual production so there is not much need to confirm it .It is just a test to get some idea of what the well can do. The actual production is reported to O.T.C. and production tax is paid on it. Is there a certain well you are looking for production for . O.T.C. records are about 5 months out, Sept is out there now. ?-?n-?w
Harley The Devon leases should have no impact . Whoever wants to drill will just Pool the others who have an interest.
Ronald need to read your figures correctly, those are average daily reports for the first thirty days and by those figures the well is averaging around 434 bopd, you would have a difficult time pumping that each day by hand.
Maybe Osage should invest in a new gasket for its pump??? I could pump 5 gallons of Kansas water from a mechanical pump left handed in 30 seconds when I was a kid. LOL
SAN DIEGO, CALIFORNIA, February 11, 2013 - Osage Exploration and Development, Inc. (OTCBB:OEDV), an independent exploration and production company focused on the Horizontal Mississippian and Woodford plays in Oklahoma, announced today the average 30-day initial production on its Krittenbrink 1-1H horizontal Mississippian well located in Section 1-18N-4W. The average 30-day initial production rate on the Krittenbrink 1-1H was 494 BOE with a product mix composed of approximately 88% crude oil and 12% high-BTU natural gas.
http://www.osageexploration.com/s/NewsReleases.asp?ReportID=570212&……
Richard, I swear to you, I wrote a song, one of my favorites I’ve written, title of PUMPIN ALL NIGHT LONG, but it is about something else. LOL
Looking at the big picture, which we need to do, I am wondering what the world shipbuilding activity is as far as oil trankers goes? I note S. Korea just delivered a new super tanker to US corp, at a cost of 57.5 million I think it is. These ships traditionally only last about 20-25 years, and** see indications that there is a whole new family of super-super tankers being built, S Korea, Amsterdam, Liverpool I think, but I am just curious about the port construction, or lack of it, at Port Arthur, TX, where the Cushing extension to the Keystone Pipelind is almost finished and connected. I think all of these things, put together, make a lot of sense for the future of Norther Central Oklahoma and S Central Kansas, I just can’t help but think something big is brewing, and believe it or not, in spite of what we publicly hear about Obama oposing big oil, I wonder if he is excluding US exploration and production from his wrath? It sure is beginning to look that way to me. I think a whole new fleet of supertankers will be lined up at Port Arthur when the Cushing Ext is ready in just 3-4 ,months probably??? I think the EU wants rid of the**
A****rabia choke hold, as does the USA. But big things are going on. I think.
by RTDukes on December 14, 2012
Cathy’s other half again, and I’m wondering what’s going on in 20-17-3’ Apermit to drill was issued, a dozer was seen leaving the SW/4, there is a nice sized lake in the SE/4, probably 30-40 acres. Looks like all the ingredients for some serious activity.
Well permit 2/8/13 but no spud permit yet on 20-17n-3w
If someone wouldn’t mind answering I’d sure appreciate it. Is the $ you get for the lease the same or different from the drilling bonus? Thanks!
Military Pup,
Lets start at the first step.
A Landman calls or send you a letter stating he would like to lease your property. He makes an offer, you sign the lease, this is called a bonus. You will get a draft instead of a check in most cases and the oil company can takes up to 30 days to make sure you are the legal owner of the minerals, etc and you have a clear title. It can be longer if your title isn’t clear. Then you can cash the draft or they may issue you a check. At no time do they promise you a well or that they will drill. Now if you signed a lease that has an extension, let say, 2 year extension. When the primary terms of the lease runs out, they will sent you another check for the amount agreed upon 3 or so years ago. This is an extension to your lease, again called a bonus check or leasing bonus. Then they may drill or may not. If you get a well and your are the surface owner, than you can get damages to your land, this is negitable. Once the well comes in, they have 6 months from the date they sold the first oil or gas to sent you a check, this is called royalty payment. This isn’t from the date the well was finished, it’s the sale of the first oil or gas. If they don’t sent you a check, then you are entitle to 12% interest in most states. Again, this is only general information.
Their is a lot to learn in this business, so like R W suggest, learn the terms. This isn’t for dumbies. And always understand what you are signing. Attorney fees are cheap if you don’t understand it. But, again you attorney don’t know what you want and can only make suggestion. So, do your research, lots of good information on the web. Remember nothing is free, so if you don’t want to get took, do your research and pay for advise.
You get paid money for the delivery of an executed [signed notarized] lease. I think most people call this the signing bonus. If you have figured out a way to get them to pay you a bonus just because they drilled a well whether it produces or not, please share how you did it! (Insert smile here). I never heard of anyone being paid a bonus just because a well was drilled although a producing well if drilled on your lease/pool should pay you royalties. I know you are new and I think you are being confused by slang. I think the best advice I can give is look at the top of this page where it says mineral help, there is a glossary of oil and gas terms, and many other helpful things. Skimming all of it and taking a closer look at anything that looks promising would probably be an hour well spent. You make your own luck with becoming knowledgeable, so I will wish you good luck.
Thanks to all my new friends! I appreciate your guidance. I’ve followed your very wise discussions for awhile & am trying to understand the process. I’ll read the the threads suggested.
Ronald,
I’m surprised that the oil company sent you payment for your lease. If I understand you correctly, her estate wasn’t probated. In order to have clear title to property in Oklahoma (a probate state) it needs to be probated. Their are other ways to get around some of this, but it can lead to a mess down the road.
Check out the probate rules of Oklahoma. Some are on line.
You may have problems getting your royality checks once a well comes in. So, you maybe a millionaire and never see your money.
I want everyone to forgive me for my spelling on this site. My fingers goes faster than my brain, plus spelling wasn’t my favor subject.
Oh btw, another reason I just signed and go on to something more important to myself, is the integrity of Slawson Exploration, who has the permit to drill. They are coupled with Osage who is equally as trustworthy. Slawson and Osage both have heavy interests in Logan County. Spending too much time in thinking about things like this can make one sort of crosseyed, and lose more sleep than you need to lose. It is very doubtful anyone is goiing to cheat me, no more than anyone is going to steal one of the poems or songs I write. It just does not happen, only in Hollywood.