Rec’d notice that Unit applied to OCC in this section. We’ve got an interest in about 50 acres. Any news?
Thanks
Michael, the applications for Spacing, Pooling and Location Exception have been "Recommended" by the hearing Judge. Now they go to the commissioners for approval of the final orders. Once these have been finalized Unit can apply for a Drilling Permit. This could take a couple of months to accomplish. It depends on Unit's drilling schedule as to how soon they will SPUD (start drilling) a well. This whole process of drilling, completion, start of production and commencement of royalty payments could easily take 6 to 12 months.
Fifty acres is a nice little chunk of mineral interest, I wish you much success.
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