Mario, you should call Slawson and check on status of well. I assume it is Jane 1-26h. The number is 4052320201 according to the drilling permit. The operator may refer you to Tracey in files. I think landmen actually do the Division Orders. The well had first sale in april i believe according to the Form 1002a. I was told that shortly after first sale they send out a division order. If that phone number doesnt work, say something. When i get home i wiil post the number i have been calling. They are very helpful at Slawson.
Vern, thanks for clarifying the source of the Division Order. My info was from a files lady at Slawson who may have referred to the land department. The Landman statement was mine. I assume the land guys have rounded up the leaseholders and ownership info. She did say that the order would come from slawson though. I have noticed on the Form 1002A Devon and Stephens usually show Purchaser of First Sale. Slawson does not. Devon production numbers seem to be getting into the Oil-Law Data Base. Stephens are not. The IT guy at Oil-Law says their data comes from the Tax Commission. Just scratching the surface on all of this. Probably would do better reading a good SciFi novel.
Harley, I have never received a division order from a Landman. They have always been from the purchasing oil/gas company or the production company. My most recent division order in 17N-3W was from Slawson since they are the production company and the well is not delivering directly into any pipeline.
These are my thoughts regarding the many post about offers to buy mineral rights with offers as high as $3,500 per net mineral acre. Like many of you, I inherited my mineral interest. I had no expectation they would ever be worth anything. Oil & gas drilling technology has changed and now we are getting oil & gas production that was never before expected. I look at this new development as “Found Potential Money” and the oil speculators trying to buy your mineral rights have much more research, data and information than you do. If they offer you $3,500 per net mineral acre, they are expecting a MUCH higher return from the actual production. Mineral Steve has also said much the same in some of his post about “time value of cash” and I also agree with his post. Currently all of the excitement in Logan County is about the Mississippian formation but there are many others that in the future could also payout including the Woodford and others we do not even know about today.
In my view unless you have an immediate need for the money, it is best not to sell your rights. The potential gain is much greater than the offers but like Marlo said, it is a gamble.
I have been receiving royalty checks since 1981 although they have gotten quite small since the late 1980’s. Don’t I wish my 1980’s production was at $90 per barrel as opposed to the $17 to $22 I received back then!
Thanks Everyone! Harley I called the number you provided and they were very helpful. Division orders should go out in two weeks or less.
The Oklahoma Corporation Commission is sponsoring a workshop for non resident royalty owners in Indianapolis on September 21. ??? I am sitting here just wondering, who is paying for it??? And will they sponsor one in Las Vegas, with show girls and slots and stuff??? I wil not go, but if they do one in Cannes, France, I would go just to see if I can find the boudenouire I left there 12 years ago.
There are also rumors of there being totally new and unknown kinds and types of energy contained deeper in our planet. Do you know of black holes in space? Of course we do, well, what if, (I love “what if…”) what if there are similar “black holes” in our planet say 30 miles or more down? Could the new element 115, just discovered last month and named Unonpentium present us on a proverbial silver platter with a great surprise in power production that would power the entire planet for a million years? Yes. Yes. and Yes. It works like this. Humanity has a need, and God in is great infinite wisdom, provides the sollution. It is always the way, always.
Min Stever, also inherited, our Grandfather Wright sat my Mother and Father and Brother down one afternoon and swore there was skiddles and skiddles of oil and natural gas below Logan county and made my Mother swear on his handclasp to never sell the rights, she never sold, and it that is how my bothers and myself received them, and we will never sell so long as that is even half an inch of area. Mother received royalties, towards the end of the life of the well only amounted to between 12-20 dollars a month, and that was years and years ago. Last week oil was threatening to break the $110.00 strangle hold it is had for months now, and I believe it will, and that is what the producers are waiting for. (Again, my opinion) Then it will shoot up to$125 and even more, $150 is in our immediate future. I have never even checked what nat gas is doing, too busy with other things. I say let the oil/gas companies take care of the oil/gas royalties, I will deal with the poetry and song royalties first.
I hat it when somebodys says to a newscaster…“Thats a great question…” but Harley, that is really a good question. LOL If people did the research, really digged into the facts, and realized what is going on in Logan County in the new technology of Oil exploration/production, they would be really amazed. It is not COMING, it is HERE. And it is now.
Fractionation plants seem to be making news down here in South Texas these days. Is there a need for them there in Logan County with these new wells?
they can put a compreesor at the well site,they are not realy concerned with the gas ,if is flaring… is not metered,maybe they told you that so you dont raise hell about your gas being flared off
db, I was in Guthrie today for a funeral. I took a tour on 74C west from US-77 and then on County Road 750 which is on the section line that divides sections 20/29, 21/28, 22/27, 23/26 (etc) 17N-3W. I didn’t drive west far enough to get to 20/29 in the general area where you are and the Ruffed Grouse is located. There are a lot of wells on either side of the road. I drove into the pad when my small interest is located and took some pictures and talked to the oil service worker on site. According to what the worker told me, the pump jack is installed but not yet operational on most of the wells on CR 750 in that area and they are using temporary pumps that use natural gas from the well as a fuel to pump oil. Natural gas is being metered but there are more wells hooked into the natural gas pipeline than it currently can handle so all of the excess natural gas is being flared. Phillips 66 is trucking the crude oil. BTW these are the biggest pump jacks I have ever seen. They have to be at least 20 feet tall. I also saw a very large cable which I believe must be an electrical cable on the side of the road and buried under any driveway or farm access road.
db, if you have any additional information of corrections, please let us all know.
80? Reminds me of the movie EAST OF EDEN (James Deans best,) where Adam (his father) watches the ice melting from the make-shift boxcar protecting produce intended for mass markets, he just mumbles, “.well, someday it will work…” Somethng was wrong. Quite obviously, he was right and they fixed it.
17n 3w sec 20 production, under 80bbl
db, while I agree that for varying reasons, not every well will produce 300-800, there are reasons for this and many of them are intentional. In fact, there is no reason every well is not able to top 1,500 and beyond. We are largely a nation of pessimists, and even this is part of the equation. You remember Sad Sac in the Sunday Funnies? We have become collectively this character, and most people simply do not know how to reverse our negative trend in life. It is sad, and the rest of the world is turning the tide on us. Even with the blessing of Logan County riches and wealth beneath our feet, our own psyche and expectations are holding everything back. People simply do not have a handle on our very own power that we control ourselves.
Strange since the well has been finalized, that is totally drilled, in just the past few days my mail activity has dramatically picked up wanting to purchase my meager 1.8675453231 and ¾ acre or minerals and the offers are coming from out of state, more. If Ruffed Grouse holds at less than 100 bod, which I very seriously doubt, then I would look for the offers to buy to increase and the price per acre they offer to decrease, hoping to intimidate/scare people into selling. None of this is accidental, none of it. They know what they are doing.
Ok, I used the calculater for Mad Mary Suzik, on 200 million cubic feet of gas lost, but I think I did sometning wrong, I used 160 acres (just for the fun of it,) in a 640 acre plot, at 1/8 royalties and owning all mins to the 160 acres, calculater game me, and I quote it via cut and paste, for the one month,
Your monthly revenue estimate is $117593750 per month. This estimate is based upon a decimal interest of 0.31250000. at todays market price. I would kill myself. LOL
the line you see on the ground is not electline,its fracwater disposal line …gas is not being metered for sale here,in 20,yet,no pipe hooked 2more weeks ,pumpjack is now pumping,well is finished ,less than80bbl,it is what it is,not every well ,will produce 300-800bbl
db, thanks for the info. It did seem odd to have an electrical cable just laying on the ground. The oil service worker did mention a compressor was being used to “lift” the natural gas. It looked like a big fan. This is a picture of it and the 2 temporary pumps. The compressor is on the left.
I seriously doubt anyone of them cares a whole lot or even a little bit about how much hell we are raising about anything or combination of things. What we see, even for the “experts” is not always what we think we see. 80 bbd? Means nothing at this very point.