I hope someone can answer a question for me. I have 20 acres as follows: undivided 20 acres in and to the W/2 NE/4, Section 24, Township 18N, Range 2 East of the IM, Payne County. I’ve had this leased for about 2 years. I spoke with a person yesterday from Bayside Oil and he said my minerals were in the northeast quarter and the well was in a different quarter, I don’t remember for sure which quarter he said. According to him I have no claim for royalties. I found the PUN details on the Oklahoma Tax Commission site. How can I find out if that Section is pooled? It appears the well has been in operation since 1983. Thanks, JC
jc here is your pooling.
http://imaging.occeweb.com/AP/Orders/occ5165701.pdf
The only active well is in se4 and is doing nothing.
https://www4.oktax.onenet.net/GrossProduction/PublicSearchPUNbyLega…
Thanks Ron, JC
Clark, I’ve been told the IRS is running behind this year.
Clark, The Oklahoma Tax Commission (OTC) might be able to help you. Here’s their link to check on refunds. http://www.ok.gov/tax/
Clark, That’s why I live in TX.
Tyler, what company has your lease?
Received my first Royalty check and I have a couple questions that I’m hoping someone can help me with. All the production is under the product code Condensate. Can someone explain what that is? What is the difference between Condensate and Condensate drip? What is the net owner value column about? Also, it’s been over 6 months since the first production, however the check is only for 3 months of production. Thanks.
Tyler, Here’s explanation of shale condensate. http://blogs.wsj.com/corporate-intelligence/2014/06/25/what-is-cond…
Your check run stub should list production amounts for each month production occurred. It’s not usual for companies to skip a month or two especially during the first 6 months of startup. Also, most company’s accounting runs 2 months behind.
Correction, It’s not unusual for companies to skip a month or two.
Thank you Martha. I read this forum almost daily and have learned much from your posts.
Tyler, Net owner value column should be price x volume - tax - deductions = net value.
"EPA draft assessment finds no widespread harm to drinking water from fracturing" http://www.ogj.com/articles/2015/06/epa-draft-assessment-finds-no-w…
Three cheers for the ivy league boys! http://www.hbs.edu/competitiveness/research/Pages/unconventional-en…
Happy 4th of July Folks! God Bless the USA!
Amen
Happy 4th of July to you too. We appreciate all the help you provide us with. Enjoy your Holiday weekend everyone!
Martha
These quakes are associated with production in water soluble formations. The Mississippian appears to be the culprit in the north half of the state.
I monitor all quakes in the region and Woodford production followed by injection does not have this problem.