so what are you going to do now?
I had a nice talk with a division order advisor at Conoco Phillips yesterday, and he said that Conoco would keep all payments on the 4 wells in suspense until my lawsuits are settled. This suits me. The division order was only for 1 well of the 4. The division order advisor told me he would make certain that the other division orders would be sent to me, when I inquired about them and told me they had no division order for the Lone Beaver Creek well which was not involved with Diamond Resources mineral acre grab. The division order advisor told me he would check into it for me. As I have said uncomplimentary things about division order people at Conoco, which I stand by, I would like to point out that I did appreciate the professionalism and courtesy of the one I spoke to yesterday. Too bad he isn’t the one handling all my wells. What will I do now? I will finish the lawsuit against Altair Corporation. Diamond Resources will be next on the agenda.
Mineral Joe said:
so what are you going to do now?
Why would they just burn the gas off?
Dear Hanna
They do not have a pipeline infrastructure to speak of in North Dakota. Oil and natural gas are produced together and in this case the gas is destroyed and no royalty is paid on your minerals because of a lack of a market.
Hanna said:
Why would they just burn the gas off?
Oil-priceless, Natural gas-almost free
Hanna, dollars spent on pipelines that wouldn't pay themselves off for years, could not be spent on holding more acres. I think they would flare off virtually all of the gas if the state didn't force them to collect the gas and sell it where there is a market. I think they are satisfied with the oil and holding the acres by production and simply do not want to deal with the gas at present.
Hanna said:
Why would they just burn the gas off?
Thank you...Another question. I have figured out some of this but the apparent pooling has me going nuts. My Great Grandmother had owned 120 acres, sold it, but retained half the mineral rights. She handed those down to her 4 children. They in turn to theirs. My grandmother had 3 children, my mother 2, so calculations and the landman, say I have 2.5 mineral acres. Correct?
There is a well that the landman had said was on our property, now he says it is not, I'm not sure, but he says 40 of our acres is being pulled into another 40 acres not ours to make an 80 acre unit, therefore we have a 50% interest in the well. How do I calculate possible revenues with this mess? Do I use 2.5 of 40, 80, or 120, or do I use 2.5 at all? My math, anything beyond beginning algebra is fuzzy, but usually I do ok, but this.......has me totally pulling my hair out.
Hanna:
I also had a interest in a neighboring well that had double pooled some acreage in Texas. Same company on both pools. I contacted the company and they said the "other" pooled interest, that I received no payments on was corrected and deleted from pool long ago. Still was listed on TRRC site. Don't you think that if they list you acreage in a pool and their is production, you should get paid? Even if the land was in Two pools(double pooled)? What do you think Buddy and rw.
Dennis Broadbrooks
Dennis, I am wary of pooloing because things like that do happen. It would seem to me that once your minerals are included they should not be excluded at a later date, unless they plug that well and drill another one elsewhere. It would seem to me that it would be best limiting the power to pool to the immediate needs, and they can come back and get you to agree to changes in pooling later, if they can convince you it's in your best interest. What makes it a good idea to give carte blanche to act against your financial best interest? If they must have the pooling powers to do whatever they want or they won't drill, that's fine, I'd rather not have the well. Someone will eventually come to get that oil, with a reasonable plan to make sure your rights aren't trampled. They will ask for what pooling authority they need up front, and know that if they need more later, that they must have your agreement. My minerals are physically under wells in 1280 acre spacings in ND. There are others in those pools whose acres are not being drained by the single well holding those pools. It's getting close to 5 years now that people whose acres are not being drained have been getting checks from oil produced from my acres, with no further drilling in sight. Smaller slice of a bigger pie is laughable. If you have already granted your permission and they find it convenient they may pool more acres than the well can drain, just to hold with proceeds from your acres, additional acres, that may not be drilled in our lifetime. I think pooling should be limited to the immediate need. Was that anything like what you expected to hear ?
Dennis Broadbrooks said:
Hanna:
I also had a interest in a neighboring well that had double pooled some acreage in Texas. Same company on both pools. I contacted the company and they said the "other" pooled interest, that I received no payments on was corrected and deleted from pool long ago. Still was listed on TRRC site. Don't you think that if they list you acreage in a pool and their is production, you should get paid? Even if the land was in Two pools(double pooled)? What do you think Buddy and rw.
Dennis Broadbrooks
r w kenndey:
I like hearing other peoples stories, makes you think. I might add that we never signed any agreement on this "double pool" to create it or to remove it from the neighboring pool. We were never ever contacted on the double pool. I approached the company after seeing it on the TRRC site. I was comparing neighboring wells. Again don't trust anyone, do your own research. Like in Boxing, protect yourselves at all times. Thanks for your response.
Hello,I am a Mineral owner,when one has 500 mineral owners in the same section,with me,I recieved my division order decimel pt.I am wondering how do I get pd.Is this decimal pt.my share that come' s up on the oil calculater,and do i divide this number with 500 mineral owners.I would like some help.Thank You!Marcella