Apparently my grandparents owned this but have passed along with my mother and I am next in line. I got a certified letter for “Final Participation Proposal-Uncommitted/Unleased Interest Owner.
Section 7-T22s-R27E & Section 12-R26E Caveman #402H
It’s says 1267.10 actual gross acre for oil and gas production. The formation is Wolfcamp (pool purple sage; wolfcamp, pool code 98220.
It says elect to participate or non-consent. What does all this mean? I was told by Holland & Hart that I have 0.1871 of an acre which I know that is small.
The letter says I need to pay my invoice in full for my proportionate share of all estimated well costs to be incurred.
The authority for expenditure is two pages I I have no clue what any of this mean. It has AFE grand totals for “drilling” “completion” and “total”.
Can someone please break this down for me. I called Holland and Hart attorney back in 2019 but they really didn’t make me understand anything about things to come.
Thank you in advance for you help.