We just received lease offers from 2018 for Section 27, Township 1 North, Range 5 West Stephens County OK. Our family has an LLC for some California oil production, but we’re totally new to this holding and location, pooling, etc. so any tips on what is going on there, what to watch out for, companies to deal with or not deal with, or even to get more specifics on our interest without engaging the firm that deal with the estate would be most appreciated!
Welcome to the forum!
Suggest that you read the Getting Started topic so you know how the forum works. Then read the Mineral Help tab above to get a feel for how leasing works. Read through the Stephens area especially to get a drift for activity, companies that folks like or don’t like dealing with, etc. Get familiar with the Oklahoma Corporation Commission website as it has very useful free information.
For that particular section, Citation pooled it in 2018. If they could not find you because you are in California, you may have been pooled. Go to the OCC case docket website and look up case 201802599.
Contact the operator. They may be looking for you to get you into pay status.
Thank you very much! Very helpful, so glad this forum exists!