Martha, I just found a deed giving us another 1500 mineral acres in Payne County OK
Don, We have mostly producing net mineral acreages in: E/2 NE/4 28-18N-5E. with 3/16 and ORRI OF 3/16 and .0287 respectively. W/2 1-18N-5E 29 net mineral acres with only well being the horizontal Hill 1 1MH making over 1,000 bpm and 6,000 mcf/mth NE/4 1-18N-5E 25.2 net mineral acres with vertical Nancy J. Laughlin lease making 180 bpm The above we are beginning with today. You give us your best offer.
Sidney, what you are being offered per acre for your producing minerals and ORRI?
Martha, It is rediculous what we are being offered–$300.00 per acre based on the salt water disposal issue. I have read that seismographic activity is minimal in Payne County. Do you realize buyers I have talked to are not separating mineral rights from ORR! Anyway if you have some idea please inform. Sidney
Hi Sidney if you want to message me your contact information I can see if I can get you a better price than that if yo have to sell.
Thanks Jayson
Sidney, I was afraid of that low offer. I wouldn’t sell for less than $3,000 per acre. Buyers assume that you have to sell and will offer you less. Crown Energy has a location except in 8-18N-05E filed 2/24/2017. Drilling will start back up once oil price settles and stays above $50 or 60. Banks have just signaled they will lend to O/G biz again. Bad time to sell unless you absolutely have to. Can you wait a year or two?
I was told a week ago there was a problem at White-Star with the new accounting system. Our latest check info still isn’t on available online and we haven’t received our checks. Has any one heard any thing about their problems? Thanks, JC
Nathan, White Star didn’t send last checks and they have shut-in good wells. Not sure seismic is real reason.
WSP September revenue direct deposits occurred on Tuesday
I emailed W-Str owner relations last evening asking when checks will be sent. Received a response this morning stating direct deposit and checks have been sent this week, but the PDS site is still not functioning. J. C.
Thanks JC
White Star… What a MESS… They have been working on this conversion since August.
You now have to log into oildex for White Star stuff, but they also still have the PDS log info JIB etc. The lady I just spoke with at PDS login help said, "It has been a nightmare and they can not give PDS or OILDEX any info on when they will be able to upload any detail for Sept and Oct revenue checks.
Has anyone received their October revenue checks? Thanks, JC
JC, W-Str ck came today
Now all of the historical WSP statements have been cleared from Oildex. I can only hope this means they will be loading revenue files for those of us on direct deposit.
Beware the wording in direct deposit agreements. In another county Newfield Exploration slipped in a clause in their deposit agreement that required any litigations have to filed in their home state, Woodlands, Texas. That was enough for me to never accept direct deposits from any companies, even ones headquartered in Oklahoma.
Thanks Martha, JC
Rick, I don’t have direct deposit and still not getting revenue run print outs. Not good.
Good news is W-Str has planned to drilled more wells in Logan close to Payne and Middle East recent upsets signal changes in ruling princes as well as in oil price. Oil will be king again.
On October 13, WSP sent me an Excel worksheet (likely what is uploaded to PDS or Oildex) that showed all needed details to record the revenue, taxes and deductions - that was for September 2017. This was only 2 days after the deposit. This month, they said “truly sorry” no sheets available.