Oklahoma Gross Production Tax Timing

Oklahoma Mineral Rights
1

I went to the OK gross production tax commission site and searched under the Public PUN Search. It said that this well went active on 7-1-2019. What does this mean? There are no production numbers yet.

Thanks for your help!

2

There is a 6-month lag in reporting of information.

3

So this does not mean it’s completed yet?

4

It is completed… just expect a lag of up to 6 months before any production numbers show up on the tax commission system.

5

That’s great. Thanks for the info.

6

The OTC usually runs several months behind on production reports; on new production it could be 6 months before the first report.