I’ve inherited Township 010-N Range025-W Section 22. From looking at the deeds, it appears there may be 2 wells (VerlIne 2-22(OP) & Wilma Ruth 1-22 (OP). Wondering if anyone can tell me anything about these? Many thanks!
@John_Gilliland, both of those wells appear to be producing gas wells operated by Unbridled Resources LLC. Contact the operator to see what you need to transfer the royalties to you in pay status. Most likely a copy of your deed and a W-9. Also, if it has not already been done, make sure your new deed is recorded in the Beckham County records. Here is the link to look up recent production: https://oktap.tax.ok.gov/OkTAP/web/_/#12
Wilma Ruth API# (35)-009-21570. Verline API# (35)-009-21365.
Thanks so much. It appears the deed was transferred to me & is logged in Beckham County. I’ve a lot to learn going forward. Appreciate your response.
Would you happen to know how long these wells have been producing? I’ve learned that the usual longevity is around 4 decades. Thank you!
The Verline well was completed in 2004 and the Wilma Ruth in 2006. Lifetime is hard to estimate. Even with a decline curve, or knowledge of the known reserves in the area, things can happen or modifications can be made that change the initial projections.
Companies usually have an economic limit where they will shut in production if it is more expensive to pay for the electricity to run the pumps and pay for the pumper to go check out the well. Sometimes, if they have other wells nearby, they will let a well run below that cutoff. Gas wells tend to last longer than oil wells for various reasons.
The Wilma Ruth is a gas well. It has produced about 1.8 BCF. Estimated ultimate recoverable is 2.1 BCF. Unless it has mechanical trouble, it has many years left to go.
Verline is also a gas well. It has produced about 18 BCF. Its ultimate recovery is estimated at 19 BCF. It was going great guns until Feb 2023 when it plummeted. Looks like mechanical trouble. If they fix it, then it has about 2 BCF more.
Thanks so much for the replies & info!
Is there a way to know how many people own rights in the same well?
Yes, but to do so will take a nice amount of time=money. A good landman will charge you $400/day.
Wow. Ok, guess it’s no longer important lol
Some sections can have hundreds to thousands of owners.
Wow! That’s crazy. Too many hands in the cookie jar.
That is what comes from the fractionation of handing down through many generations or sales. All the owners add up to 100%.
Holy cow! I almost cannot comprehend that! Is what it is, I guess. Thanks so much for educating me.
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