Gay, depends upon where the FP is. Sometimes you get 1/4, sometimes only 1/5 as the best.
Teresa,
Which well are you looking for?
Soonerpe,
looking for the Moore #1, Sec 27, 1S-4W. Its an old well so there should be production of some kind. Operator is L E Jones.
M Barnes,
Itâs the Moore #1, not the A S Moore Estate.
Michael W. - I assume that you are already aware of this, but NFX has also already filed Permits to Drill for âallâ 5 new wells in addition to Spud Reports for the #2 and the #6.
Michael W. - I sent to you a âFriend Requestâ!
M Barnes,thanks for the info. I havenât been able to get anyone to agree to $0 with 1/4. Do you think forced pooling would offer it?
Gay, If you are looking for $0 and 1/4 RI, my advice is to wait until they make applications in those sections. If you donât have unrealistic clause expectations, $0 1/4 should not be difficult to obtain right now. There will be a pooling order issued on 9 and 16 2N-5W in the next couple of weeks that may give us some more data. With multi units expected to spud in 6/7 and 16/21 this year, it could influence things either way.
Friend me if you want to talk about this in detail. I think you are sitting in a pretty good position. Iâm fairly familiar with this area.
Michael W, I think this is just one of those situations where we will come out the winner or loser on depending on how the chips fall in this instance. Unfortunately, I still have not been able to get any substantial info on âwhyâ this is being done.
We must have been sending vibes their wayâŚHang onto the check stub and put in your records. Then when they get around to posting on the OTC (which now that they have paid you, they have to post the taxes), you can compare.
M Barnes, strange things happen sometimes. One of my cousins has been looking into this well and planned to send letters to LE Jones next week. However, I got a check in the mail this afternoon covering June 2011 through March 2015 sales. Imagine that!. By the way, the production volumes you found matched the check detail for 2011-2012 but they apparently havenât reported 2013-2015. Thank you for your help.
Michael, it just depends on the chips as Rick said. I have some units that have been fantastic for me and some that have not. All depends upon where your acreage sits with regards to the structure, well types, reservoirs, etc. Any money is better than no moneyâŚ
You are correct again Bob. I was looking a completion report on the hatchet 1H-33X. The XR is still alive.
Good afternoon everyone! Hope your day is shaping up to be amazing!
I have a question; if a gas and oil organization owes an individual money; could the individual track down what is owed to them by the taxes owed either through the OK tax commission; IRS or the sales of the product something like that? Wouldnât the sales be attached to your social security number? If so, how would you go about doing it?
Thank Rick. I know this unitization conversation isnt over yet. Its too bad we arent given much to help us understand the pros and cons. We have to see how it all shakes out, I guess.
K Dawn, friend me and I can walk you through both those questions.
K Dawn
Money owed: The sales are not attached to your SSN, on the records of payments maintained by the company. How to find money owed to you depends on many factors. Is the property correctly in your name? Do you know what you own? Have you checked the unclaimed property funds? Why do you think someone may owe you money?
Drainage: The geology of the formation and depth are factors in determining the area of drainage from the well. It is then spaced based on this information. I think the true answer is maybe. It has potential to drain resources from surrounding areas, but they do what they can to create a unit size and space it to prevent this.
More info on spacing http://www.occ.state.ok.us/ap/spacing.html
Richard Wilson: SureâŚthe pad was in 9, drilling north into 4 and 33âŚif they never got deep enough to turn they never would have gotten into 4, even though that was their intent and still is their intent in the new hole.
Again with the beginner questions. How does a straight hole work for gas. Even if the hole is straight; doesnât it pull resources from surrounding areas?
Rick,
Iâm going to send you a message so it can be more private.
K Dawn