Hi Rick5 ,that is to sell.
The Section 271 is one of the best areas in the county. I donât see proof of any permits yet But, the companies like Centennial are going full steam ahead with drilling.
Thank you for the info Brenda.
We successfully leased the interest to Ridgefield. Funny enough Oxy sent a lease last week for the same interest with an offer of 3k pnma.
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Hello Everyone,
Oxy drilled and completed 5 wells in sections 270/271 recently. ThebYoung wells. We received the first royalties today. Royalties from June 2021 to October 2021. Only being paid, quite handsomely, on two of them. Hope more will be added from the 5 drilled. 
Hey Rick5, we are in same spot 270/71 Young. So you have a lease? 25%? Or no lease and once well paid off you get 100%?
Hi Jed,
Yes the interests were leased in 2020. We retained 1/4 royalty. No division orders were received on the Young interests which is unusual considering they are mineral interest properties. We havenât received the check yet just the statement on Oxyâs royalty owners website. What about yourself Jed? Leased or not?
Did you consider not leasing and retaining 100% interest as your royalty payment? When you signed the lease did you know about the Young Wells?
Nope. Didnât know about the Young wells. Oxy had not applied for them yet in Sept. 2020. You know you donât get your 100% royalty interest until the wells paid out right? We didnât want to lose out on the approximately 55K in lease bonuses plus 1/4 royalty on the first flood of new oil. I think we come out better leasing than participating or waiting until the wells paid out.
Yes, understand the risks. Signing bonuses are money in hand and often donât get any further than that. Had one lease in another section like that, good signing bonus but never paid out on any drilling for 3 years. Yet now, times are different. This section is producing and I am not 100% sure but these wells may or likely pay out quickly. Unless you are in the game daily its hard to predict and decipher all the information.
Either way, we are neighbors, if I didnât ask, how did you come about your interest? Through inheritance or did you buy it?
Inheritance. The wells have probably paid out. I ascertain this from the 4 month statement we received this week. So I see your point of view Jed. We however prefer not taking the risk of monthly expenses incurred by the wells, potential liability in the event of damages to the surface, etc. Have a nice thanksgiving 
Inheritance, ditto. Maybe we are related⌠the great Methodist land swindle! Gobble Gobble !!