Could you help point me in the right area to find out if there is anything going on with our section? Our land is close to Hale Cemetery on State Highway 39 - same spacing order. We have not received a division order yet, have been leased for a year now. Thank you, Susan (Section 35) Township 7N Range 5W
Susan, you could check out the Oklahoma Corporation Commission database. I looked up your Section, Township, Range and found a well by Continental called the Triple Rimer. Its first production date was in May 2014. I’ve read on this forum that the operator has 6 months from the first date of sale to send out division orders, if I’m to understand all this correctly. I am fairly new at this oil rights stuff. Congratulations on the new well!
Slight correction - operator has 6 months after first sales to pay the royalty owner without incurring statutory interest obligations. 6% if there are title issues or 12% if there are no title problems. There is no statutory obligation to send out division orders but almost all oil companies will do so. It is an additional way to verify that they have the ownership set up correctly.
Thank you so much - I will check the site - appreciate your time to help