I own mineral rights in Mc Clain Co, Section 9/8/4. EOG has producing well in the area. I called them and they said I have a credit back to July. How do I find out how the well is producing and what I am owed. Do I understand correctly that royalties not paid within 6 mo should earn interest?
9-8N-4W. The Laubhan 0409 1H was active as of 7/10/18. The operator usually sends out a Division Order in about five months after first sales. There can be hundreds of mineral owners in a section, so it takes months to do the title work. The first check is supposed to be six months after first sales, but may be off by a couple of weeks due to the date the operator cuts its checks. You can look up the production on the OK tax site. Gross Production Use leasing zeros in the location boxes 09 08N 04W. Just looked and the production numbers are not posted yet. They are running behind by a few months. Your royalties will be based upon the following formula:
net acres/spacing acres x royalty rate x % perforations in your section.
You can watch for the completion report at the OCC well records site. Test
Look your well up in 0408N04W as the surface location is in Section 4. (just looked, not posted yet)
Thank you. Very helpful.