Looking at those figures, my thoughts to John Kerry and the Pres are if this is the best we can do production wise, I do not believe either Kerry or the Pres should hang the phone up on OPEC just yet.
Sorry, not Goode, Larry Crowne that is Crown with an E. Sure, the old stuff still works, and old arm pumps still pump water, and my Daddy’s crank will also start his Alice Chalmers tractor, but have you taken a look at the newest line of Alices? WOW. I predict within 1 year maybe even less, we will be part of a new and highly developed transportation system for real, live time marketing of crude in the USA. It simply has to happen because what has worked for 50 years is no longer relevant.
I still say, especially for North Central Oklahoma region, if this has been for the past 50 years and continues to be the NORM for getting crude to market, it is obvious to myself that it is outdated, “crude” LOL pun intended, in-efficient and definitely in the past. It is equally obvious to me that allowing a 2-4 percent margin of error in such methods is pretty conservative, and no wonder to me so many mineral ownders think they are being taken for a ride. There is no doubt in my mind that there are much better ways, and we are about to see it first right here in Logan County. What is that old Broadway line “Yoy Ain’t Seen Nuthin Yet…” I think it will go to fast for many people to even put up with. Reminds me of Larry Goode, he was the best there is, but not able to compete with today’s technology, and so he was fired…
Ron Von–this isn’t Cathy but–yes, it is the NORM for getting crude to market and has been for many years. Outdated, there are wells here in the Osage hills that have no electric power to them and are still powered by an old one-lung, chug-chug engine running on drip-gas right off the well head. You could call this out-dated, but it works. What happened to the 1% error, it’s up to 2-4% now. Who is Larry Goode,never heard of him.him. Your whole deal sounds like an Obamaplan, cost a lot of money and will never work. Tkis isn’tpolitical, just apples and oranges
Comment by [Ron McKenzie](http://www.mineralrightsforum.com/profile/RonMcKenzie) yesterdaydream on
DOES ANYONE KNOW OF FUTURE DRILLING PLANS FOR 26 17N 4W LOGAN CO. OK? SUNDANCE IS SUPPOSED TO DRILL, LEASED TO JACKFORK. THANKS FOR ANY INFO.
Is it correct that most of Logan County’s future activity is in Natural Gas as opposed to Oil Production? Most systems analysts believe so and indeed there are charts reflecting this probability. What we have, however, in both areas of Logan County is new ideas, new equipment, new technology, everything is new, and it is not realistic to thing that those in control are concentrating on 40-50 year old patterns in order to meet production goals. I have not looked at how natural gas is paid in royalties yet, because everyone seems to be glued to oil production royalties. But I still believe Logan County will spearhead our national natural gas exploration, and things never imagined before are about to happen. The old stuff just does not make much sense for todays technology. I still very much believe this.
M Carey,
Before they can drill they need a Permit. Before they can get a permit, they need to go to court to get a spacing order. If you are leased, it is my understanding you will receive a notice if the court hearing for the spacing order. The court docket is posted each week on the OCC web site. I just noticed on the Logan County web site a substantial number of lease holders in that Section 26. Did not notice your name, but didn’t dig very deep either.Good luck! I have a little piece of Section 30 over there in 17N4W. So I hope something happens some day.
Oklahoma crude just under $110.00 Brent Crude, the benchmark for literally all western oil, is at 106.00 today I think, and everyone is suggesting it will shoot to $125.00 plus in just a few days. Watch any activity in Syria I am told and believe this is so. Experts are saying Brent Crude will shoot to over $150.00 shortly, with the tag-along markets following suit. But…but…what about the Suez Canal, what if…?
I wonder if the people in Oklahoma are seeing the really terrific commercials for Oklahoma City that are showing around the clock and daily in the Northeastern US on nearly all TV channels? There is this beautiful Native American girl, telling about how great the potential for all areas, including and especially oil and energy, really put together like a real work of art. Anyone here seen it?
Amused this morning to see some Well Completion Reports from 1936 and 1943 in the newly scanned documents at OCC. I first thought, gosh I haven’t worked in a few years but generally I got to the bottom of my work pile at least once a year or so. hah.
Actually, they are recompletion reports fairly recently done. Not sure why. I think I need more to keep me busy. I just keep looking for that Spud Report to get filed.
Comment by Michael Ross yesterday
Can someone suggest a few people who can provide the following service in Payne County. Retrieve copies of official records at the County pertaining to mineral rights and send them to me. Our family is not listed in the County’s electronic records. We need to track down the family’s interest and provide that to the County so that we are among those listed electronically. After choosing someone, I will provide what information I do have–old leases. I will follow this comment for the next week or so. I am not able to monitor on a daily basis.
According to info received, Federal Law requires that mineral owners respond to Division Orders received, (usually 3 - 4 months after the completion of drilling,) and elsewhere it says we have only 14 days, (is this correct?) to respond, and must respond with your social security number or tax ID. If you do not respond in this way, a with holding of 28% will be applied which is non-refundable by the operator.
Yeh, I still get the 28% but maybe that is for federal only, and is it possible Okla would demand the extra 2% be withheld? We will see directly. I am also receiving information that the figures calculating royalties we saw here in this discussion board, are pretty much out the window too, because by the time they begin paying oil will be roughly 30% higher than it was then, while Natural Gas is still pretty constant, and in my opinion will be until the “powers that be” decide the time is ripe for it to quadruple or even more, which will happen when they are ready.
Ron Von–this isn’t Cathy but–14 days is not correct. If you do not return the division order, in a timely matter as they request, they don’t know your tax ID, (SS#) or with-holding instructions, or if you agree to the decimal interest they have figured they owe you. They will with-hold up to 30% taxes and not sernd you any royalty payments until you complete and return the division order.
Ron the federal government says you have to give your social security or tax ID or they will withhold at 28%, as I have been told by my operator also, it does not say you have to return the division order, two very different things. Of course the operator would like you to believe that you must return the division order by law.
I have been told that returning the division order may let the operator off the hook for statutory interest on unpaid royalty.
If you don’t have a gross proceeds stipulation in your lease then you will share in some production expenses that will be deducted from your royalty check as well.
So if my lease says net proceeds I am paying for well expenses? So in figuring the amt of oil I get per barrel would be multiply .00029296 x number of acres of royalty and then they subtract costs? Surprized that they give royalty owners anything with that ratio.
STEVE HOLT, HAVE YOU HEARD ANY MORE ON 26 17N 4W. I FOUND THE LAND BUT DID NOT SEE ANY ACTIVITY, THANKS MICHAEL C, CAREY