Someone correct me if I’m wrong here. If the pooling applicant and all their leasing competitors are only offering a 1/8th royalty, wouldn’t that be the only royalty rate offered in the pooling order?
That is normally how it works. I would only expect about a 1/8th in LeFlore at this time.
Probably so but I’d rather be pooled than agree to 1/8th. They say they’re going pretty deep. We’ll see.
I suspect that they will pool at 1/8th if they are only offering 1/8th. I looked up the nearby pooling and it was at 1/8th.
I’ve expected that since the beginning. I’d rather be pooled than sign 1/8th lease. You won’t believe their plans - its a wash down and according to Viridis, zones they plan to test are the Stanley (OT), Arkansas Novaculite (OT), Missouri Mountain (OT), Polk Creek (OT), Big Fork (OT), Womble (OT), 1st repeated Stanley (ST), Atoka/Johns Valley (ST), Jackfork Series (ST), 1st repeated Arkansas Novaculite (ST), 1st repeated Bigfork (ST), 1st repeated Womble (ST), 1st repeated Atoka/Johns Valley (ST), 1st repeated Jackfork Series(ST), 2nd repeated Stanley (ST), Woodford (ST), Hunton (ST), Viola (ST), Simpson (ST), Arbuckle (ST) and Timbered Hills (and possibly others). It will be interesting to see what they end up doing.
There’s not much new activity going on in Leflore County. I don’t get why you’re so upset that your mineral estate is being developed. Sure a 1/8th royalty sucks, but it’s better than what you’re receiving a month right now on that mineral interest… Today’s casing prices are through the roof. Drilling a new vertical well is hell of a lot more than it used to be. A wash down isn’t all that crazy, it’s A LOT cheaper than drilling a new well. IMO it’s LESS RISKY. Obviously the operator thinks it’ll be profitable. I’d consider participating.
After looking online on OSCN and seeing how many default judgements there are against Viridis OK LLC, I would not participate.
I’m not uoset, Diesel. And, I"m aware if Viritis problems.
We can agree to disagree about wash downs, Diesel. I cant believe you’d advise participating.
Have you ever done a wash down? I didn’t “advise” participating. I believe it’s important for mineral owners to “consider” all options available in a pooling.
Welcome back Ann. Glad you are aware.
Yeah, and I was on site, just a few feet from the rig when it got out of the hole. The whole thing shook like a tremendous earthquake. I thought the derrick man was going to be slung into the next county.
That’s being on location in the oilfield for ya. It’s a scary place. I hope you had a hard hat on. What’s the “it” you speak of coming out of the hole? A “wash down” is just a re entry of a old inactive, abandoned, or plugged well.
The bit got out of the old hole. Briefly got stuck.
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