We have unleased minerals in Sec. 17-8N-7W does anyone know what the minerals are being leased for around this area? We are only interested in leasing, not sure if waiting for it to be pooled would end up better or not.
Section 26-8N-7W Pooling Order 672014 - $6,000 + 3/16 or $5,500 + 1/5 or $0 + 1/4
Section 23-8N-7W Pooling Order 671928 - $6,000 + 3/16 or $5,500 + 1/5 or $0 + 1/4
Section 24-8N-7W Pooling Order 672762 - $4,000 + 3/16 or $3,500 + 1/5 or $1,500 + 1/4
Section 25-8N-7W Pooling Order 672761 - $4,000 + 3/16 or $3,500 + 1/5 or $1,500 + 1/4
The 4 most recent as far as I can tell. Related to the CHASTAIN 1H-26-23 and VAN SCHUYVER 1H-25-24 both wells list TRAVIS PEAK RESOURCES LLC as the operator.
A strong Exhibit "A" is the most important if leasing. Pooling only ties up the producing formations.
Thank you sir. We have had many clauses included in previous leases, Pugh, Gross Proceeds, Depth, Shut in. Do you know if these clauses are included if you are pooled?
A forced pooling would hold you only to the formations named in the pooling. No Pugh or depth clause needed. You could lease the other formations (above or below the producing formations).
You would be paid on gross proceeds with only the severance/production tax taken out. No other deductions.
The one downside is you would not receive a shut-in payment if the well is taken off line (shut-in) for a period of time. The shut-in payment is nominal most times anyway, so not that much of a downside.
Thank you so much for the information, it is greatly appreciated.
Any news on what’s going on with the Van Schuyver? Since TPR sold to Paloma we haven’t heard anything. Supposedly they were drilling, but our lease has expired and we havn’t even had anyone calling or inquiring about renewing.
When asking, please use a section, township and range to save time. (In this case, the surface location is in 25)
The Van Schuyver 1H-25-24 was completed on February 12, 2018. First sales were March 14, 2018. Since the well is online, your lease probably did not expire, but you had better contact TPR to get into pay status. I do not see that the well was sold to Paloma. You can find it on the OCC well records site, but look in section 2508N07W. Test You can find the production on the OK tax site. Search in section 24 since it is the bottom hole location. Travis Peak is listed as the operator. Someone owes you interest if your title is clear! The completion report on the OCC site has their address. Send a certified return receipt letter requesting information on your pay statues and requesting your statutory interest. Send it to the Division Order department or owner relations.
https://otcportal.tax.ok.gov/gpx/gp_displayPublicPUNListSearchDownload.php
My mistake, sorry. We have been getting info on the one in 25 8N7W. The sections are 23 and 26 8N7W. It must be called the Chastain then, was thinking it was the Van Schuyver. OCC shows it was changed to increased density which delayed it and was set to be drilled last year, however, to our knowledge nothing has been started. We had been contacted by a representative to “extend” the lease a year as they didn’t have the equipment to get to drilling the well and knew the lease was about to expire. Since then, it’s our understanding that Paloma bought rights to it, lease has expired and we haven’t heard anything when usually as a lease expires we get contacted by multiple companies to lease rights. Thanks in advance!
Paloma seems to be moving rather slowly on our acreage as well. Time will tell.
Was there a change in automatic emails? Mine stopped arriving at the end of March?
Betsy; I don’t think a Poltergeist did it, so much have been The Gremlins -
I too had stopped receiving Emails for a While.
I
Thanks John. Are you getting emails now?
See [IMPORTANT] How To Manage Your on-site Notifications (and emails about activity) regarding notifications
Good to know; however, what about When without Notice notifications STOP ?