Melinda if you want to send me a friend request I will give you my # and tell you how I would handle it. They have 6 months from date of first sale to start paying after that they have to pay 12% or 6% if there is a title problem.
Dec 5, 2014 IHS Report:
“Most US tight oil production capacity additions are resilient at West Texas Intermediate (WTI) prices as low as $70 per barrel (bbl). About 80% of potential gross US tight oil capacity additions in 2015 have a break-even WTI price of $50 to $69/bbl. This price covers capital and operating costs and generates a 10% rate of return.”
http://unconventionalenergy.blogs.ihs.com/2014/11/20/tight-oil-test…
Melinda, AEW should be VERY familiar with the OKLA product revenue standards act. I am after them right now on mine. Don’t be shy about this they OWE you!
Jay, you are so right, I once worked for CHK. That’s the same old bogus bookkeeping story CHK was telling years ago. Melinda, AEW is same as AEP and AEP was a spin off from CHK. Also, I have seen lost payments for the months during the Calyx/AEP transfer of wells.
Thanks so much, Jay and Martha. AEP has been sending my sibs and me royalty checks regularly since the Calyx transfer (my brother missed one but he got it reinstated). Now, we’ve redistributed the ownership between we four sibs and filed new deeds. That’s what we can’t get them to act on. A number of financial matters in our family are waiting on this to happen. Is there any way recourse to get them to process the new deeds and send new division orders? Martha, did you get your lost payments reinstated?
Thanks once again Martha, am setting aside Sunday for reading/researching
Is there a ball park figure (average %) for the amount of deductions for oil and gas royalties that I might expect? taxes post production costs etc.
Ron, It is in Garfield county. 8-20N -5W is the legal. It is a 3 year lease with a one year extension option with long fellow energy. It was producing under 100 bopd.
How do I find AEP intent to drill in sec. 27 18N 1E. I heard it was filed in October.
My brother and I have the same number of NMAs in the same sec/tn/R, not long ago I got a $2500 offer to sell with my 3/16 royalty (I don’t want to sell) - he for whatever reason (post office or his business office lost it etc) did not receive an offer but is interested in selling with his 1/4 royalty, any idea of about how much he might expect to be offered? As always any info will be greatly appreciated.
Martha, Do I just circle a choice? Do I draft a letter??? There were no instructions just the information. With only 4.2 acres, I thought I would choose the 1/4 royalty option. Do you think that would be a good choice??
Martha, I received the pooling order with elections. Is there somethng I am supposed to sign. It only had the nformation with nothing to sign. Is there supposed to be something to sign and send back with my election choice???
G Win, Your pooling order is not like a lease, so it does not require a signature. Make sure you select the election you want, make a copy and return it promptly to the OCC by mailing certified mail with a return receipt.
G Win, I circle the election choice and draft a letter. I keep copies of everything. I can’t tell you what to do, but I always choose 1/4th royalty.
Is there a website I can go to see if division orders have been mailed and who they have been mailed to. I was told by Devon that they would be mailed 2 wk ago but have seen nothing yet.
G Win, Be sure to draft your letter indicating exactly which election option you choose and sign the letter. OK law requires pooling elections to be in writing.
Gotcha!! Thank you Martha!!
Bob, I sent you a private msg.
Does anybody know where I could find a sample drafted letter making an election on a pooling order?Do I need an attorney or can I just draft a letter stating my choice??