you could win the lottery too
Looks like most of the action is going on in Payne and Logan Counties, a reality that I suggested 7 or 8 weeks ago and people suggested I was shooting with lop sided marbles. Well, I still say, huge surprises are in store for Logan and Payne, as well as most of the area around us shortly, to reach into and include by birthplace, Cowley County, Kansas. Drill, Baby Drill.
Ron … You have a very vivid “thought process”, that I like!
Sorry about the skip, I don’t know what wrong key I hit. We are leaning toward option c and the 3/16.; I don’t know but I would think that Slawson has fvorms that they will send out for our reply.
you aready signed a lease,the pooling order is for people who have NOT ,signed leases
nothing for you
unless???
Everything should be at least a little entertaining, I think. We learn more that way? Thanks Kaye.
Cathy’s other half again, Ialmost slipped and said better. Things are progressing and I have some more questions. We received a copy of a pooling order #608451 from CD
3201207841 that was heard back in Jan., granted and signed March 4, 2013. Our interest is in 20-17-3, we leased and took 3/16 royalty when the enterest all started in Logan Co. I understand a lot of this order and don’t the rest of it. Slawson is the operator and it says we have 20 days to make an election as to what we want. a–participate, b–$x and 1/8 royalty, c–$x and 3/16 royalty, or $0 and 1/5 royalty. It says—when so paid shall be satisfaction in full for all rights and interest of such owner in the unit covered hereby, except for any normal 1/8 royalty interest, as defined in 52 O.S., Section 87.1 (e) (1977). After more about overriding royalties and excess royalties it finishes with–“To elect this option, a respondent must be capable of delivering at least an 81.25% net revenue interest to the opoerator, at the time elections are due herein.” What does all of this mean?
Catherine,
Did you sign a lease? Has your lease ran out? Something don’t sound right. It’s like they have pooled you with other land and you haven’t lease. Please clarify.
already
Whew … just finished reading through the last 45 pages to get caught up and I do have to say, some of it I about fell out of my chair laughing then, other parts, I would touch with a ten foot pole! heehee These mineral rights are hotter than any real estate (land/residential) I’ve ever work with@ lol
One thing I will add, is even when the estate is probated, it doesn’t guarantee that all the minerals were included in the final order. Since, a lot of minerals are inherited, if at all possible, see if you can get all the details from your relative before they pass away including copies of old leases, division orders, deeds, reversionary rights, plot maps, the significances of any leases they’ve signed in the past and if at all possible, go out to the property to know where its located and to make notes of any landmarks. It will save you a lot of time and trouble later on and you will know exactly what you own and you won’t be at such a loss trying to figure it all out later!
It may be a little uncomfortable to bring it up at first, but there should be no shame in asking the particulars and I would think that most people would want their relatives to know as much as possible, so their minerals can be protected and preserved for generations to come! Once you have it all sorted out, make it a point to do the same for whomever will be inheriting the minerals from you, after your gone!
Another thing, I also, found an enlarge old plot map of Logan county (from an Abstract Company - the size of a poster board), that I made duplicate copies of to make notes on of what’s going on with the sections surrounding me! It’s really helped me to keep up with all the hearings on spacing, pooling, location exceptions, etc., in my section, at a glance!
When you know things are in order you can focus your energy on the piles of money coming your way . . . . . . . because, Logan is One Big Hot Spot and the Oil Companies know it!!
Drill Baby Drill . . . and . . . drill some more!
Correction … “I wouldn’t touch with a ten foot pole”
Going to get myself in trouble, so I’m out of here!!
I received a drilling and spacing horizontal oil units for the misener-hunton, Mississippian, woodford and sylvan common sources of supply from section 30-t19n-r1w to now include section s25-t19n-2w (which is my section) so next maybe they drill? Or maybe they are including me in a well that is not far from me they are finishing up and fracking (pooling) at least I think that’s what Halliburton is doing at this point I guess my question is, my lease is due to expire in April if I don’t receive any kind of payment or more paper work in the mail will Devon have to release my minerals and I know the well they are finishing up is Devon and they have 2 others they are starting about 2 miles from me give or Take A little so maybe my paperwork is to do with the wells starting I don’t know hard to get any info from oil company. Thanks for any opinions or info.
Virginia–my drilling and spacing order is dated 1-18-13 and I thought the drilling permit was for a well in the SW/4 of sec.20. Is the well permit in the NW/4 another one the are getting ready to drill? We signed lease papers with Brannon on 5-14-12 for 3/16 for 3 years. I am no Philladelfia lawyer but these pooling orders don’t sound right to me. Exhibit “A” is respondents with known address’. Paragraph 5 is “Relief Requested”-- to pooland adjudicate the rights and equities of the owners named in Exhibit A attached hereto, includin g respondents listed primarily as curative, underlying the lands described above, and to designate an operator. Applicant requested a “unit” pooling order covering owners rights in all wells drilled and produced------- Paragraph 6 RElief Granted and the rights and equities of all owners named in Exhibit “A” are hereby pooled,adjudicated and determined in the lands described in the caption hereof for the following souece of suipply: Mississippian and Woodford, said owners named in Exhibit “A” must make an election within 20 days from the date of this order, 3-4-13. The choices follow that I have already listed.It just don’t sound right to me!
Looking around me right now no very little probably due to the drought, not a bad idea to stay up on it though I spent a fortune on diesel and a cedar tree sheer to go on the front of my skid steer not to mention time clearing cedar trees as well as other various trees u know one pesky cedar can suck 40 gallons of water out of the ground a day.
Kaye,
Every rigs has to drill a rat hole to start with.
That is how they can keep a lease for a long period of time.
O Kay, please do go, they be beatin up on me all of the time here. LOL You are sure right, in matters such as this, you need to gather up all of the paperwork and the knowledge you can. This includes action in adjacent counties, adjacent states close by, and in places like Venezuela, and all of the oil hotbeds in the mid-east, gulf areas, north sea, you need to understand what is going on in the oil world all over the world. You need to understand that Hugo Chavez has just died and think about what this might mean to all of us here in North Central Oklahoma and S Central Kansas. We were all taught in the Boy Scouts to BE PREPARED, and our oil mineral interests are linked to everythng on the planet. I have indeed started writing my book about this adventure in petrol, greed and reward, and I am loving what I have written so far–much of it is coming from this very web site and the people here.
Kaye, the first line, I left out the NOT NOT NOT go. Hope you caught it cause I type so fast my fingers hit the keys faster than my brain connecdts. LOL
Claude, I wanted to say something about what you said, but I forgot what it was. I read again, but notice that the “normal is x$ and 1/8…” this is what I got which was only $600.00 that I gave to my twins in Philadelphia, plus 1/8 royalty. I offered Sendero the rights for free for more royalty, but I don’t think they are allowed to do that, they are required by law to give you something. Every little detail of this is covered by some law, and this is one reason I believe they are more honest than a lot of people think they are. It just seems that cryiing and complaining have collectively replaced baseball as the national passtime.