Does anyone have any experience with them. Our well changed operating companies and we have received no notification from either the former operator or the new one (Red Rocks)
From my understanding, some of the mineral buying companies won’t buy minerals that are being operated by them. I don’t think they are as good at drilling as some of the other operators.
Interesting. The well was drilled a couple years ago by Eagle Rock and then changed to Vanguard who filed bankruptcy. It then went to TEP and now it’s been transferred to Red Rock Oii & Gas LLC.
Seem to be getting the run around from both the new & old operating companies. Neither will say what is going on but the well is working away…
Hi Steve…I’m also in that predicament with TEP and Red Rocks…and now they are trying to purchase acres…I suspect thay are putting on the squeeze. Have to be careful with these guys
I wonder if they are using the funds from the royalty payments to try and purchase more acres? I’ll talk to the Corporation Commission later this morning and let you know what they recommend.
First, I would check with the Oklahoma Tax Commission about recent well production. If you have to do it in writing then send it certified. Be aware that production information could run up to 6 or more months behind.
Second, I would write a nice letter to them requesting an update on where your royalty check is and request them to please include the 12% statutory interest that may be due you. Be sure to send it certified.
Third, I would file a complaint with the Oklahoma Corporation Commission. Again, send it certified.
Fourth, if needed, contact your attorney.
Thank you Steve and Don…for the information & guidance
I spoke with Red Rocks last week and they told me they had just received the approvals from the Oklahoma Tax Commission. The Corporation Commission told me it can normally take an extra 30 days to get everything in order. Just found it interesting that we have received no notification from either the new or old operating companies. Red Rock did say that TEP still owned the horizontal lines. There is quite a bit of activity around the area so they very well could be getting ready to drill another well. The pad is very large and a buddy with Unit Petroleum said it was big enough to hold several wells. We can only hope! I’ll give them until the 10th of August and then circle back with all of them.
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Good update…thank you. I have not received a call back yet…but I am sure there must be alot of confusion with the transfers. DO you know if the Linton 1-5-32XH remain with TEP?? Is the Linton a horizontal line ( I know so little about this all)!!
You can tell that the Linton is a horizontal well by the H in the name. The X is a clue that it is an eXtended Horizontal and you can tell which sections by the 5 & 32. As to who will operate, you have to look up the form 1073 on the OCC. The surface location is in 0805N06W. I just looked it up and do not see a new one yet. However, the OTC lists Red Rocks as the operator on their site. So probably Red Rocks at this point and the form 1073 has not been filed yet.
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Spoke with the General Manager of Red Rocks yesterday… He said they closed on the sale May 9th, Corporation commission approved on May 23 and Tax commission approved last month. He went over the process and said they have yet to receive payment on the sales since they took over and that there is a lot of paperwork involved. Don’t know if it’s all legit or not but he did say they know they have to pay interest on the revenue that is being held up. I’ll give him a couple of weeks and then call again.