Walker 2 (35-125-05492) was originally completed in 1941 by Carr & McCracken. It was sold to Walker (Randy & Jan) Oil Company LLC in 2005. It was reclassified as a disposal well. It was recompleted in 2016 by the Walkers and notes are on the 1002A form. http://imaging.occeweb.com/OG/Well%20Records/1DD55444.pdf. There would have been no royalties while it was a disposal well. All the records are filed in the OCC well records site. Test
Some are missing according to the last Form 1002A which I posted for you. Current depth is 2630’.
You would have to contact the Walkers to see if there are any new royalties since 2016. You would have to make sure that your parents’ probate documents are filed in the Pottowatomie County courthouse before they would be able to release any to you. They would need to send you a new division order. I checked the Gross Production site and do not see any royalties in the last 12 months. Another subscription service says there was very low production from about 2008-Dec 2018, so contact the Walkers. Thier address is on the 1073 form on the well records site. At total production of 28,436 bbl over decades and decades, it was a poor well and not much royalties to hunt for.
As far as a lease, personally, I usually take the highest royalty offered if I am reasonably sure of production. If it is a wildcat or a poor area, then I may take the 1/8th since the bonus will be all I will get as the well may be dry or have low production. The clauses of the lease are more important than the bonus amount. The original draft of the lease will not be the one you want. It will be all in the lessee’s favor and not yours. You do not want to participate in the well if you are beginners.
Ask what they are planning to do with the new completion-what zone or if they are recompleting in the Hunton Lime. Technically, your old lease is dead due to non-production for over a year. This will be a new lease.