I was recently contacted by an investigator who informed me that my family had some land that was getting ready to be drilled on. He said he would like to send some paperwork to me for a lease of the land. He said we (my family) had a deadline of the 15th. I have several questions....first is how in the world do I find out how much land there is, second should I be concerned about leasing this land, third how can I tell what is actually being done on the land? Will any of this information be available on the lease agreement he is sending? I guess I should add that my aunt has been called by 3 separate people who offered to buy her share of the land. Does this mean that something was found on it already? Its in Section 22. I do remember my father and grandmother discussing leasing the land when they were alive however none of the remaining family knws much about the process. Any suggestions would be very helpful.
Thanks
Miranda, It should be Section 22 something N & something W like 3N-5W. Do you know what the N & W part is. Did you know Bruce Bullock.
Miranda, First off be calm. To say there is a deadline could be a bit of an exageration. Even if someone does drill before you sign a lease, by law you still get paid. You could be limited to fewer options if you are "force pooled" but the law makes sure you are not left out of the process. The "investigator" is probably a Landman, a sort of broker for mineral properties. He should have all the information on your holdings such as acreage and location. You should also ask him what company is planning to do the drilling. If you can get that information along with what Ron asked you above there are people on this forum who can do some research for you and try to point you in the right direction. Don't get rushed into signing anything until you understand the terms and feel comfortable that your best interests are looked after. If there is a significant amount of land involved you might want to consult an oil and gas attorney, it could be worth the expense. The lease and purchase offers are a good indicator of an interest in drilling, but they could also be speculators looking to turn a quick profit. Good Luck.
My Guess is Section 22-07N-06W I was named in the pooling as well and made my election last week...There is still time to make an election
Ok, I do know that information. It is S22-T4N-R5W. All I have found is a map online with information that I'm sure means.....something and these numbers. I found a lease online that my grandmother signed in 200 and 2002 but nothing else. I asked the investigator that called how much land we were talking about and he said he didn't know, he thought it was a small amount. But, how could he not know? My aunt recieved her paperwork today and she said that there are more numbers on the paperwork that neither one of us knows what it means and ist says we have 30 acres more or less. He also said that the land was going to be drilled and soon. He did not say what company wanted to drill on the land. I really appreciate your help. As soon as I receive my paperwork I will update. Thanks again for your help.
Michael Hutchison said:
Miranda, First off be calm. To say there is a deadline could be a bit of an exageration. Even if someone does drill before you sign a lease, by law you still get paid. You could be limited to fewer options if you are "force pooled" but the law makes sure you are not left out of the process. The "investigator" is probably a Landman, a sort of broker for mineral properties. He should have all the information on your holdings such as acreage and location. You should also ask him what company is planning to do the drilling. If you can get that information along with what Ron asked you above there are people on this forum who can do some research for you and try to point you in the right direction. Don't get rushed into signing anything until you understand the terms and feel comfortable that your best interests are looked after. If there is a significant amount of land involved you might want to consult an oil and gas attorney, it could be worth the expense. The lease and purchase offers are a good indicator of an interest in drilling, but they could also be speculators looking to turn a quick profit. Good Luck.
Is it better to go ahead and sign a lease or be force pooled?
Brian Stamps said:
My Guess is Section 22-07N-06W I was named in the pooling as well and made my election last week...There is still time to make an election
Don't know Bruce Bullock, my husbands family is from Texas and Delaware. The land was originally purchased by Norris Melton and went to his wife Catherine after his death and then to my grandmother Rowena Eastland until just a couple of years ago when she passed away. My aunt and I did not know it but my stepmother was intercepting my grandmothers mail and I guess cashing any checks and replying to correspondance we knew nothing about. When this landman called he had my stepmother's name as an heir but my father passed away before my grandmother. What a mess. Anyway, we are trying to make the best decision and don't know what end is up. I doubt we will be able to find the deed to the land. I'm guessing that is the cases for a lot of families. Maybe the County Clerk could help????
Ron McKenzie said:
Miranda, It should be Section 22 something N & something W like 3N-5W. Do you know what the N & W part is. Did you know Bruce Bullock.
Miranda, I am going to check that section of land on the Oklahoma Corp. Commission website, also there is a county records site I can check. Do you think it is in the name of Rowena Eastland? Let me know and I can check it as soon as I hear back from you. There should be an offer letter with the lease that gives the acreage you own and how much they are offering you to lease it. It could say something like NMA or net mineral acres.
CD#201107127,Order #594654 are these the #s.
Miranda, I have all the information from the OCC and Grady County Clerk. If you need more information after you talk to Brian let me know. I have seen the Pooling Order and I can tell you how much your land should lease for. Don't sign anything from a land company or broker unless they are direct representatives of Continental Resources who is drilling the well.
Rowena Eastland 59 Spring View Dr. Brandon Ms. 39042
Ok, unless I am really really computer stupid(which I really am) there isnt anything in my inbox, I tried to get into it and it says my inbox is empty.....could I be looking in the wrong place?
Brian Stamps said:
It should still be under Rowena Eastland, yes. My aunt has recived her paper work. I haven't received mine yet. She said numbers on it are these.... SW/4 SW/4 SW/4 AND S/2 SE/4 SW/4. I feel like I am speaking in code haha
Michael Hutchison said:
Miranda, I am going to check that section of land on the Oklahoma Corp. Commission website, also there is a county records site I can check. Do you think it is in the name of Rowena Eastland? Let me know and I can check it as soon as I hear back from you. There should be an offer letter with the lease that gives the acreage you own and how much they are offering you to lease it. It could say something like NMA or net mineral acres.
Miranda Your stepmother may have an interest, did your grandmother have a will. You have 20 days from 2-28-12 to make your election. Check friends on Forum.
Miranda, Once you accept a friend request you can recieve mail in your inbox in the right hand corner of this page.
Check your regular email inbox for notifications from the forum like friend requests.
Michael,
I just received my letter. I says we have 30.0000 acres, more or less S22 T4N 5W. Then lease is for 3 years. Its 1/5 part of all oil and looks like 1/5 gas and to pay for gas produced from any oil well used off premises or for manufacture of casing head gasoline or commercial gas It also says SW/4 SW/4 SE/4&S/2SE/4 SW/4
The lease came from ISystems IT does not have which company this lease is for on the paperwork. Also, is it only supposed to be one page? Are they short documents?
Miranda Bullock said:
It should still be under Rowena Eastland, yes. My aunt has recived her paper work. I haven't received mine yet. She said numbers on it are these.... SW/4 SW/4 SW/4 AND S/2 SE/4 SW/4. I feel like I am speaking in code haha
Michael Hutchison said:
Miranda, I am going to check that section of land on the Oklahoma Corp. Commission website, also there is a county records site I can check. Do you think it is in the name of Rowena Eastland? Let me know and I can check it as soon as I hear back from you. There should be an offer letter with the lease that gives the acreage you own and how much they are offering you to lease it. It could say something like NMA or net mineral acres.
Miranda ,check your inbox by friends. I sent a copy of a letter to Joyce that might help. Let me know if you got it. If you did do you have any questions. I will be gone until after lunch.