The old well is owned now by Triad and is in Section 16 3n4w. It is in the SE corner of the section.
M BarnesâŚdonât know if the old well was a gas well or not.
HueyâŚdo you have working interest in those Newfield wells?
I do not own in anything in 16-3n-4w. Too bad. 3n-4w is a very good area.
Without knowing the full storyâŚif Newfield contacted your friend about pooling money owed to him but didnât contact him about the pooling itself that is an egregious violation of OCC Rules.
Linda, If they were HPB, they would not have been named in the pooling. Like a leased owner, there is no notification on the pooling. There may have been other notifications like a Spacing application. They need to make sure their current address and property description has been filed in the county in where the property is located. Then they need to check that it has been indexed correctly. That should allow a good defense for not being notified of s pooling order/application.
I sent the information to you in the Garvin Co. members messages. Would that make a difference? If you donât find it tell me again.
Iâm noticing in the public records that my friendâs dad had left his family affairs in a family trust. I should have known that because his dad was a very good businessman too. He owned a Real Estate and Loan company for many many years.
HueyâŚand othersâŚsorry for the multiple post but itâs hard for me to get everything straight in my mind. I just talked to the friend and he said the money was from the first money the well made and not the pooling money but the letter was sent to the same box number that his dad had for all those years. His dad and then his heirs were getting a little check off of that old well at that box number so their thinking if they knew how to get that check to them that they should have received some papers about a pooling or about the Hollinsworth well being drilled (but of course that was another company). However, they only probated the will a couple of years ago after the well was drilled so any papers sent before then would have gone to his dadâs estate (same box number though).
I didnât get anything from you in my inbox Linda. Might try again.
The timeline is somewhat important in my opinion. If Newfield just happened to find your friend the day after the pooling election time period was up then thatâs an issue. If they found him after the fact (maybe 6 months after the well was drilled) then thatâs different. Itâs different because sometimes people turn up whenever you do your Division Order Title Opinion (DOTO). When leasing/pooling, itâs uncommon to have a DOTO on hand so youâre using your best efforts as a landman to find everyone. Since your friend didnât know his dad owned in this section then itâs very possibly that they simply couldnât locate him until the DOTO was done. It doesnât get into the issue of âdid Newfield look hard enoughâ but I can see how this could seem fishy to your friend yet be totally legit.
One more questionâŚNewfield originally pooled just the Woodford, Hunton, and Mississippian. They did not pool the Springer until 4 months ago. Curiously, there are far more people listed on the Springer pooling than the original pooling. My 30 second review of both orders doesnât lead me to an easy answer about why. Bottom line though is that if he got pooled originally he should have been pooled again in December. Did he ever get a copy of that order?
Try messaging me again and Iâll do some better, more specific research for him. Good/Interesting conversation!
The friend asked if he needed to call you Huey and I told him I gave you his number so you would probably call him. So he will be expecting you. Iâm sure you can get the info. straighter than I gave it to you. Thanks for the help!
Janice, if I were you I would only let them extend your lease if you got a very satisfactory percentage the first time. If I were you I wouldnât take anything less than 1/5th interest in that area and would want at least $1800. an acre on the bonus money. Others on here might have better advice but the oilfield is really heating up again down in that area. I canât navigate the OCC website to see that one specifically but others on here can. Best Wishes!
The lease on Sec17 02n05w is due Aug .We got a call from Newfield wanting an extension . I donât know if I should extend or not I donât even know whatâs going on , are they drilling ? Also is there anything going on in Sec9 02N05W. I really need some help Thanks .
Janice, The most important thing is to have a no post production costs lease. If you have any deductions being taken out, then you want to re-write the lease. Check your lease and see if you have the two year extension written in already. If so, you cannot change the lease. If not, then you probably want to re-negotiate the lease for PPC clause and maybe some of the other clauses. Friend me with the blue icon if you want some help.
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I have heard that Chevron has listed their Velma Waterflood properties and operations for sale through the auction house EnergyNet.com, taking sealed bids due by May 11, 2017. Can anyone offer insight as to what this could mean to royalty owners. The bulk of my familyâs royalty income comes from the Velma Simms wells.
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John you are usually in the know. We also have interests in the Velma Simms wells. I will be looking forward to someone answering the question. Our checks however do not come from Chevron. Val Carter
John - you heard correctly. Likely means nothing for royalty owners unless a new operator will work the field differently and somehow squeeze more production out of it. Thatâs also assuming the thing sells. Not many people interested in waterfloods these days.
Thanks, Val, for your comment. I would like to compare notes with you on the size of your royalty payments â not the payments themselves but the price paid per bbl. My family does not consider Chevron to be trustworthy. Some of our leases are quite old with royalty payments happening since the 1950âs.
CorrectionâŚI believe the Mark well was drilled into the Woodford wasnât it? Anyway looked at section 27 that got the most of the Mark well and there have been no more leases recorded that Newfield have made for that section but guess thatâs because they already had some wells on that section going to the Woodford and it was a first be it oh so small for 34.
Iâve noticed that in the few months since the Mark well was completed only going 700 ft. into section 34 2n 4w that Newfield has several new leases of mineral rights in that section recorded. Could that mean they plan more wells in that section? Soon I hope! Dreaming again! lol