in preliminary discussions, Devon didn’t seem to be interested in trading a working interest in the two wells they want to drill on my land, going south and south east, that I wouldn’t have an interest in. I told him I would give him the pad free, as long as they drilled my well first, painted the tanks dark green, baffled any compressors, muflered them as well. No lights. All the trees they cut down must be bucked up into 2ft lengths and stacked. Also I have complete access to production data on the flow computers for my well. Still bargaining. I am guessing that if I don’t agree to the 3 well plan then my unit will go down on the priority list to be drilled. I was asking a 1% interest In each well drilled not draining my minerals.
Very interesting, Robert Brian. Key is always negotiate I think. I was just a snot nosed kid when the first well was drilled on 17-20-3, a verticle well I don’t think it drilled very deep, Operator’s name was Bobby something, all of my records have been shipped from Fort Knox where my army wife is retiring to Philadelphia and are now in storage, but I will be there in mid-July, so I will find out what Momma asked for and what she actually got. All I know for certain is she and her sister shared meager royalties for over 10 years, I think. Like somewhere between 12 and 20$s a month, but I think my Momma and Aunties tactic was just to “sign here” when this Bobby asked them to, and who knows what was really going on? How bout it Catherine, you got any ideas input on this? But it all still tells me, this being a vert well with really old technology, that there is a lot more down there than we realize.
I think Devon has somewhat of a spotted reputation they definitely do not deserve, from what I can see brought on by a lot of too wealthy land owner crybabies who want it all. This comes from my tons of research into what Devon is having to put up with.
The best news as I see it for prospects is that Payne County appears to be the place to drill, and the activities are still picking up. Keystone cannot be the only reason for the increase in drilling, but it probably plays an important part. My army wife told me that she saw on the news yesterday that the cONGRESS, you know, those goofballs who have made it a felony to lie to the largest conglomeration of habitual liars on the planet, has passed some kind of bill just yesterday regarding Keystone. I have not checked it out yet, but I remain sure that somebody will get screwed in our usual fashion.
But the news in general appears to be very promising for both Payne and Logan County.
to r w kennedy. Would you please expand on your comment about having more clout if pipeline easement not included in the mineral lease. Are the pipeline easements for collections subject to condemnation proceedings if one refuses to give a collection pipe easement?
What might be an unreasonable amount for an easement for a pipeline that will collect from wells scattered over several sections?
Perhaps taking a percentage of the flow instead of a lump sum? Like 1% of the value of the flow through the pipe which would spare them any up front costs for the easement and put some risk on the landowner? Imagine what the XL would pay to folks even at 0.00005% ? Guess that might take all the pipeline profit away given all the land owners involved in that one.
KK Witt, your last question is why I hire a CPA.
ronald von wilson. The last tax I am aware of is the gross production tax that was passed in the first Term of David Hall in 1971 maybe. As I recall many legislators who voted for it lost their jobs in the next election. As a receiver of bonus or royalty payments I am not sure if we pay those or they are deducted before we receive payment. Anyway never looked that closely at the statements since they have been very small. Like under $100. I will take a closer look next payment statement.
I searched the Bakken field topic and found a study about how the taxes of the states around ND have been collected and distributed to help local governments cope with what was called Unconventional Oil Recovery. They argued that since Bakken wells require refracking employees tend to stay in the area longer than when conventional horizontal wells are drilled and employees are gone and few are needed to service the well.
Headwaters Economics in Bozeman, Mt. did the study and seem to be arguing that local government should receive a larger percentage of the state collected taxes. The 2010 effective state tax rates on oil and gas near ND were 11.4% Wy, 10.5% Mt, 4.4% Co and 10.1% ND. The report also states, disappointingly for us in this area, that fracked wells tend to experience their peak flows in the first year that drop to 45% in the second year. Which certainly has caused great distress to my fantasy. And is not what folks normally experienced, they claim, from the old non horizontal drilled wells.
I do not mind paying taxes. As my brother says, " I wish I paid a million dollars a year in taxes because that would mean that I made so much more." I do wish our employees would do a better job of spending the money.
N Rouse saying, If asking about a specific well in this forum is inappropriate, no response is necessary."
My personal training in ALL AREAS, at all times, has always been, “the only dumb question is the un-asked question…” Many, many times I say things and ask things that would embarrase anyone else, but hey, it is like knowing how to spell “emberasse” for example. I never get it right until I ask. My family had a well at 20-17-3 of Logan County, supposedly shut down, that pumped for well over 12 years, then “poof.” The “average” Okla well is only 2 or 3 bod, according to US government stastics. Of course, Winston Churchill told us in a speech in Liberal, Missouri several years back, that “…in todays world we have 3 kinds of lies, there are lies, damned lies, and stastics.” I believe this.
Statistics. Embarrass. I asked Ask. Oklahoma BOD average came from US EIA statistics.
Mr Witt, Are you an Oklahoma Resident? I think I just read on Tax Commission website of 5% State Tax withholding for nonresidents. Perhaps that is the 'nonresident alien tax". I think my cousins consider me an alien since I escaped Oklahoma about 50 years ago. I think you will find that 7.2% number on the Tax Commission website. Or, I read it somewhere else.
Finally a Permit for 9-17n-3w. Happi daze!
The distance between the Missippian and the Woodford shows to be 500 feet. Seems like I have been seeing 200-300 feet on other permits.
I am hoping that someone can explain or give insight into results of a re-completion of a vertical well in Logan County. I noticed some time ago that royalties stopped for a well. I am able to search the OCC basic well information and can see that a well in Section 20-19N-4W had a permit issued for re-completion - the permit dates ranging from 9/18/2012 until 3/18/2013. If an operator issues a permit for re-completion, how long after the permit ends does the operator begin producing again or does the royalty owner know that it was successful (other than resumption of a royalty payment)? I can also see that the API numbers keep changing and see a new API for the well with no status information. I want to find information online, but may not have access to the status of the well without paying for a subscription. Can only those who pay for subscription services get this updated information? Does anyone have access to information on API: 35083237470002? Should I just bother the operator with these questions? If asking about a specific well in this forum is inappropriate, no response is necessary.
I see in the county records that the SW/4 of 26 16N 1W has been leased. I have a small interest in it. Anyone know what it leased for. I hope I get the opportunity to be pooled.
Ronald Von Wilson: just received a “check gross” of $31.44 with “check net” of $29.19 with a “Severance Tax” of $2.25 deducted from the gross check. Other categories without deduction were “windfall profit tax,” backup withholding," and non-resident alien tax." The latter being a most interesting category. The gross value taken from the lease for the month of March was $185,506.38 with a “severance tax” of $13,354.52 with a net of $172,151.86 on lease barrels or mcf of 2,096.07 @ $88.50 average price per barrel. I believe that the Severance Tax was what was placed upon oil by the efforts of Gov. David Hall in 1971. He might have just increased it but there was such a fight my guess it was a brand spankin new tax. I do not think they messed with it since then.
So if my calculations r correct the tax is 7.2%. Now if the reported taxes cited earlier are comparable that would put Oklahoma above C0’s. 4.4% and ND’s 10.1%… Our Gov. and Legislature is presently cutting income taxes and have NOT heard any mention of eliminating this severance tax. Maybe too many out of state players are paying it.
Puts Ok between CO and ND. Gotta start proof reading. KKWitt’s husband. Wife does not want credit for my writings for good reason.
Kaye, I certainly hope Virginia comes back, but on the Internet especially, I would never come to any conclusions without feeling a little more secure about my reading comprehension level.
Ron … all I can say is someone “she helped a lot” tried to do a number on her, might I add, after they used her! However, from some of the posts I’ve read, “the person obviously, isn’t the sharpest knife in the drawer”! She’ll be back though …
Harley. Yes, Oklahoma resident. Wonder why they added “alien.” Gary. My brother lives out of state and pays Oklahoma taxes on land sales. I have some Master Limited Partnership interests that give lists of taxes paid or that I owe to other states. Not sure which. Guess I better ask a CPA.
I think about a speeding stop in Illinois resulting in an arrest for back taxes.
Anybody hear of leasing going on near Sec33 T18N R4W? Have a small interest there and would like to get it leased out.
Todd Here is your pooling