We received notice that the leased rights we have are proposed to be pooled with other units and there is a hearing in August. The paperwork specifically mentions pooling our units that have 2 active wells to more land with 9 more wells, for a total of 11. We called our contact and he said that, since we are already leased, nothing will change for us. This does not seem to be possible… if the number of wells and the acreage of property change, how does our ownership percentage in the overall property not change? If there are more wells, they are implying we will make more, but since the acreage also goes up, our percentage would go down, right?
We’ve tried to calculate based on the new acreage and wells, but it is all very confusing.
We are basically being told that we don’t need to worry about it and I want to be sure that this is true and we aren’t inadvertently missing something.
Also, why would a company change pooling? To get rid of non-productive property (I know there were abandoned or inactive permits)? To make the pool more productive? To have to pay out less monthly?
Thanks!