It’s been a few days since they finished drilling the three Roberts well holes for the Woodford and Mississippian Formation wells. The rig they use for the Springer Formation type wells should be about done drilling the Bar K wells. The burning question is will they bring that rig to this location to drill the Springer Formation well next? Or will they bring in equipment and frack these wells first?
Anyway, cleanup on isle 13 as in Section 13-6N-7W…
Unfortunately I had to sign a non-consent because I just do not have the funds to cover a WI. Hoping someday to get a piece of the pie. I was surprised to find out I had a WI. The land man said my “ORRIs are created via assignments that have language that said ORRI(s) will convert into a working interest (leasehold) after payout of the well drilled. We do not operate the below wells (which he is talking about either the Kell 1-1 or Turley 2-1 which my dad had a RI), so you are treated as paid out, and as having a leasehold in our wells.
The Operating Agreement I have is a Model Agreement-1956 and was dated March 16, 1976. I’m saying all this because I’m still unsure of it all. Guess I just wait until the penalty phase is over.
Can you please not use acronyms? What does WI, RI, and ORRI mean?
WI-Working Interest
RI-Royalty Interest
ORRI-Overriding Royalty Interests
Thanks for the picture! I don’t miss those days…and we had to watch out for rattlesnakes and skunks, too!
