My wife owns mutiple minral rights in ND. Contenental resources contacted her sister about a specific area that they wanted to drill Jan 2010. Well seems they found oil. I found under NDIC web site that last November 2010 under daily actvity report the well “JEROL” was plugged or producing. I did a Google search and found that another company did testing and found the well could produce 1300 bpm. So with that ,do we just wait for a check? do we get one?
Keith:
My first question is did your wife enter into a lease agreement? If a lease agreement was negotiated and you stated a well was drilled, it could be possible that the well is a "confidential" well, and they are exercising their 6 month period after completion.
If it's the JEROL 1-27H then they did just complete it as the web site shows Novembers oil run and gas sold and that it is still on confidential list. If there are no title issues then you should be getting a check soon or you might need to get on Mr. Kling's list against Continental Resources, just kidding. People get a little too anxious like a kid on Christmas morning and just can't wait.
Now what, wait on the natural process as going from lease to production and pay day takes time. I'd give it 3 to 4 months before I'd even call to find out where everything stands. I've seen them take one and a half years after they finished the well before the 1st check was sent out but normally it is within 4 to 6 months.
Yes this is the well and the 6 month is up Jan 24 of this year. Thanks for the info!
Tim Metz said:
If it's the JEROL 1-27H then they did just complete it as the web site shows Novembers oil run and gas sold and that it is still on confidential list. If there are no title issues then you should be getting a check soon or you might need to get on Mr. Kling's list against Continental Resources, just kidding. People get a little too anxious like a kid on Christmas morning and just can't wait.
Now what, wait on the natural process as going from lease to production and pay day takes time. I'd give it 3 to 4 months before I'd even call to find out where everything stands. I've seen them take one and a half years after they finished the well before the 1st check was sent out but normally it is within 4 to 6 months.
I’m not certain what you mean, the 6 month is up this Jan 24. As I said, NDIC shows November was the first month of production so November, December, January = 3 months not 6. What is the 6 months?
Make sure the minerals are recorded in your wifes own name in the county in which they lay. RWK
As I understand it payment is made X months after the first 'Sale' of said oil. Ours was paid 4 months royalty the end of the 5th month of marketing and now the checks we receive are 1 month behind. ie; Dec. check is for Nov. Our well spud date is Feb 2010, IP date May, first check was Oct.
Ya sorry for not explaning that. The well is on a confidential list ending this month.
Tim Metz said:
I'm not certain what you mean, the 6 month is up this Jan 24. As I said, NDIC shows November was the first month of production so November, December, January = 3 months not 6. What is the 6 months?
So how much can we kinda expect if
own .42 net mineral acres and a .03281250% estimated gross working interest…
Shonna Schroeder said:
I’m am a mineral owner in ND. I’ve had two drilled and the checks have normally come to me about 8-9 months after spud date. My last one drilled 4/30 and I’m getting pmt this month (January). However, it doesn’t really go by spud date, it goes by first sale. Under ND law, they have to get a division order or letter (if it’s the 2nd well) to you 150 days after the first sale of oil. My first sale on the well above was July so I received my letter (2nd well) in December - getting payment in January. I hope that helps.