Much appreciated Steve!
Additional, higher capacity pipeline is being built many areas of Logan County? This is understandable, but I am myself not connecting to the electrical additions. Maybe to support air conditioned offices for the summer heat coming on? It will top 129 degrees F in Death Valley this afternoon, and record heat all over the west.
(Royal Dutch) Shell, one of the few majors who have managed to go it alone in a world of corporate takeover and buy outs, also drilling the deepest deepwater well on the planet in the Gulf and having their presense apparent in Logan county, yet we do not often see their name a whole lot. It seems to me I read somewhere they have a connection with physically deposed Hugo Chavez and Venezuela?
One More Thing, when you receive the division order, this is NO TIME to be coy or shy! A Division order can alter the terms of the original lease as I understand it, and talking to the Lessor (Landmen like Sendero, whom I trust a lot,) but communication is the key to future payments you are entitled to. Pretending one is “dumb or ignorant to or just new at all of this” is the wrong thing to do. Ask questions, the only dumb question is that question you have but do not ask.
Ron … Very informative! Thanks!1
Someone inquired about a division order, here is an Excellent def of what and how of division orders in Oklahoma, at the link below… it should be noted that, quoting the article, "The division order title opinion will list each owner of an interest in production and that owner’s decimal interest in production, all of which must add up to 100%. Again, if there are issues regarding the correct ownership of any person, the opinion will discuss those issues and what needs to be done to “cure” the problem. Those issues are listed as “requirements” in the opinion. Where there are requirements, those owners affected by the requirements will not be paid until the requirements are cured. "
Referring to other documentation contained in the original POOLING ORDER, where the known names and knowned addre4sses of the Mineral Rights actual owners are listed, but could obviosly change as the legal maneuvers are later executed and the real and actual owners become known for various reasons. It seems according to this article, that if there are remaining descrepencies in Mineral ownership, contestents, etc etc, then the whole process of anyone getting paid can be jeopardized at least temporarily. Here is the link, it is VERY informative, and I would certainly welcome any contridiction to the portion of this that may simply be my own personal opinion, but it pretty much appears a black and whit issue for interpritition…
http://robertroblesattorney.wordpress.com/2013/02/19/oklahoma-oil-a…
Ron, I really like the provision attorney Robert Robles, suggest to place on the division order!
“THIS INSTRUMENT DOES NOT MODIFY OR AMEND THE TERMS OF ANY OIL AND GAS LEASE. ALL ROYALTIES DUE AND PAYABLE UNDER ANY OIL AND GAS LEASE SHALL BE CALCULATED AND PAID AS PROVIDED IN THE LEASE. THIS DIVISION ORDER IS EXECUTED WITHOUT CONSIDERATION AND MAY BE REVOKED AT ANY TIME”
okie … what’s your legal in Logan?
Great article Ron and thanks for reminding me to go search Kaye. I was surprised to see that there was a Spud Date for our area! We were pooled and sent in our selection, but expected to hear back. Don’t they have to have us sign a lease and pay the bonus before drilling? Is there anyway to find out how it is progressing or do we just have to wait until they have reported to the state on production?
okie … you probably already know this, but what I did and continually do every now and then to be able to keep up to date with what’s going on around me in the adjacent sections is pull the weekly OCC hearings and search for any hearings scheduled in around my section. If you haven’t done this before let me know and I can show you how easy it is. Only takes a few minutes to pull every week!
Before I leased, I went into the Okla. public records to search (using the legal) to see how many leases had been signed in my section as well as, the surrounding sections encircling my section! Kind of like a mini title search!! That way, you can have a gauge what kind of activity is going on. If you want to print out any of the recorded leases to see what “your neighbor’s” have signed as far as the terms in their lease, you can print them for a dollar a page!
Just don’t let them rush you into signing any lease until, your comfortable with the terms in the lease royalty, bonus, etc. and if you own both surface and land ask a lot of questions on the forum here to protect yourself!
Hope this helps a little!
By sending in your selection for the pooling, you are now leased. They will not have you sign a lease. The terms of the pooling order tell you how many days until you should get your check-usually about 35 days. If you don’t get it, start bugging them. The pooling order will also tell you how many days they have until they have to spud the well-usually 180 or 365 days. If they don’t spud, they have to go back to the OCC and pool again (and you get paid again.) You can monitor the well through the OCC well database. Given the activity up here, don’t expect the well to spud until very close to the deadline. Then it will be about four-six months after spud before completion. Then another six months before they have to pay you.
newbie, I have no idea how that works maybe somebody here can answer your question! Good Luck!!
Thanks for the info M Barnes. Sundance must be very serious about this one because the pooling order was May 29th (send election w/i 20 days) & document I found on OCC says Spud Date 6/11! If anyone lives near 22-17N-4W would love to hear if you can tell what is going on from time to time.
I entered the location here and it came up with the permit to drill and spud date documents.
newbie,
Where on the OCC can one check out spud dates?
Thanks
Thanks Newbie…
Any ideas how to put this into that form?
linda just put 3020n02w in legal description if it is sec.30-20n-02w
logan county map
http://wagoner.oklahomacounties.us/PlatBooks/Logan%20OVERVIEW.pdf
Thanks Carl!
Oil topped 100 $s yesterday?