Here is my situation. We have one lease in the unit that we received bonuses on and three non-participating (pooling agreements) that are within the 640 acre unit. Once the well on the unit was completed we received our division orders on the leased portion only. It appears that we were “cut out” of our royalties on the three pooling agreements. It appears that this was the case or an error was made. Are mistakes made on non participating royalty interest a commom thing? I’m getting my documents together to send to the Owner company for resolution. Any thoughts or advise?
If you ratified the leae which provided for pooling or ratified the unit itself, you are in. UNLESS there is a title problem. Have a lawer send a demand letter requesting all back royalties and interest as provided by statute. There is one little arow in your quivrer. Ask a REAL good oil and gas lawyer and see if he can figure it out.
Buddy - wouldn’t the signed and documented pooling agreements outlining the described land that falls within the 640 acre unit be an act of ratification?
Buddy Cotten said:
If you ratified the leae which provided for pooling or ratified the unit itself, you are in. UNLESS there is a title problem. Have a lawer send a demand letter requesting all back royalties and interest as provided by statute. There is one little arow in your quivrer. Ask a REAL good oil and gas lawyer and see if he can figure it out.
Best,
Buddy Cotten
Yes, it is more commonly known by academics as a pooling transaction.
Buddy Cotten
David Gross said:
Buddy - wouldn't the signed and documented pooling agreements outlining the described land that falls within the 640 acre unit be an act of ratification?
Buddy Cotten said:If you ratified the leae which provided for pooling or ratified the unit itself, you are in. UNLESS there is a title problem. Have a lawer send a demand letter requesting all back royalties and interest as provided by statute. There is one little arow in your quivrer. Ask a REAL good oil and gas lawyer and see if he can figure it out.
Best,
Buddy Cotten
Buddy - to clarify things - We signed a pooling agreemnt with Operator A. Operator B drills a successful well within the 640 unit that we have our tracts pooled. Should Operator A or B be responsible for the royalty payments? Regards - David
Buddy Cotten said:
Yes, it is more commonly known by academics as a pooling transaction.
Buddy Cotten
David Gross said:
Buddy - wouldn't the signed and documented pooling agreements outlining the described land that falls within the 640 acre unit be an act of ratification?
Buddy Cotten said:If you ratified the leae which provided for pooling or ratified the unit itself, you are in. UNLESS there is a title problem. Have a lawer send a demand letter requesting all back royalties and interest as provided by statute. There is one little arow in your quivrer. Ask a REAL good oil and gas lawyer and see if he can figure it out.
Best,
Buddy Cotten
David,
Looking back at your question, "wouldn't the signed and documented pooling agreements outlining the described land that falls within the 640 acre unit be an act of ratification?" I said that it would, asuming that you signed the pooling agreements. If you have NOT signed the pooling agreement, or ratified the leases as to pooling, you are out.
Oh, I am looking at Operator B for my money, by the way.
Thanks for all your help Buddy - I’m waiting to hear from Operator B on this as I have sent him copies of the pooling agreements and a plat map showing these 3 tracts in the 640 acre pooled unit. Regards - David
Buddy Cotten said:
David,
Looking back at your question, "wouldn't the signed and documented pooling agreements outlining the described land that falls within the 640 acre unit be an act of ratification?" I said that it would, asuming that you signed the pooling agreements. If you have NOT signed the pooling agreement, or ratified the leases as to pooling, you are out.
Oh, I am looking at Operator B for my money, by the way.
Buddy