Anyone getting any top lease offers?
This is in Payne County, but it may be the beginningā¦http://kfor.com/2015/07/20/stillwater-approves-ordinance-restrictinā¦
M Barnes,
The request was about strangers to title for division orders.
Iām sure my ownership is registered at the courthouse because I have documents from Duncan from when my brother who was the executor of the estate distributed my Motherās property. If those are already public then there is no need for me to worry. The person Iām working with is super nice and I sent the paperwork as it may lead to my royalties!
Thank you again and I hope you have an amazing day! I like to share my experiences, questions and what Iāve learned being a royalty owner on this forum and everyone is so helpful.
KDB
Is it common to have to send a copy of your administrator deed to a gas and oil company. I just want to make sure that Iām not sending my deed off if it is not a normal practice.
K Dawn,
Is it for a Division Order? I am not an attorney, so you may want to ask one to clarify, but you might want to file the deed at the county courthouses where you have minerals. Then it is public data (if you want it to be) and the landmen can find it there. If you donāt want it so public, then ask why the company wants it. If there was no will and this is the only document conveying title, they may need it to prove that you have ownership. Follow up before you send it to them.
Seem to have a bidding war on 8-2N-5W, request for pooling filed by Newfield recently.
Gay, would you expand on your theory about a bidding war on 8 2n 5w. What were the offers if you donāt mind sharing that info. If youād rather not say thatās fine too. Just curious.
Hello everyone! Hope your Sunday is shaping up to be amazing! The forum is pretty slowā¦so please answer when you get a chance. Is there a way to extract a list of current operaters only in a particular unit? Best, KDB
final pooling orders for sections 6 & 7 were less than that. I think $2,000, $1,600
K Dawn, each well only has one operator. What exactly are you asking about? Operators in a general area? You can have many companies/individuals as Working Interest partners in a well, but only one official operator.
M Barnes,
I was looking to see who the operators are other than Chevron in the unitizations that I have ownership in. If there are other organizations drilling in the Velma Sims Sand Unit; Velma Sims Unit; Velma Tussy Unit and the Humphreys; wouldnāt they be obligated to pay me?
Kim
Hello, new to the forum. Still waiting for Marathon to send division orders for the Peggy 1-33H well in sec33-1N-5W. Anyone in same boat as me?
Best so far is $3,000 3/16, $2,000 1/5, and $1,000 22.5%
K Dawn, you may have to work with an attorney or landman on that question. You will probably have to go back to the unitization documents and see how deep they cover and whether they have depth restrictions on them. Can find them on the OCC Imaged Documents area if you are lucky. Some units are specific to a certain set of horizons. Then you would be paid on the unit by one company and if you lease again deeper, paid by someone else or they might cut a deal with the original operators. Some units cover all zones, so any subsequent drilling success would be paid by the operator of the original unit. (I hate those because I am usually stuck at 1/8th royalty from the 1920ās and it is unfortunate.) Units can constrict and get smaller over time, so you need to check on that as well. You might get a brief answer by calling the OCC and asking them first before you hire someone to check it out for you.
Or someone else on the forum may have a better answer.
Randy,
The Chesapeake Lawsuits have come up a couple of times now and no one responds to the questions. There must be operators that have done the same thing and it hasnāt caught up with them yet. Here is what I have found and I put links to the articles down below. It looks like in January 2015 Chesapeake was ordered to pay from 119 Million up to 1.2 Billion in settlements for unethical practices of doing wrong math to benefit their organization during the gas price crunch back in 2012. Apparently they couldnāt stay afloat in the custom they were use to with out ripping off the royalty owners. That was in the Oklahoma newspapers. Here is the problem. No one has mentioned exactly where the royalties/properties are located in Oklahoma. It seems to be very controversial because of the former developer of Chesapeake is a very high profile individual in Oklahoma owning a sports team and such. No one wants to be accountable. I included some links below of some of the information I have found. One of the links is to Royalty Ripoff. I guess they are handling the royalty owners going after Chesapeake. I myself would like to skip the attorney and them keeping 2/3 of the money and proceed with my own documentation to Chesapeake. The oil companies pay out billions but most of goes to the attorneys and it show in the amount of money that actually gets paid to the royalty owner. Iām just merely stating the facts. Nothing against attorneys; that is just how they operate. I think that it is time for the royalty owners to quit getting manipulated because we think all organizations are socially responsible and looking out for the better of group and not just for themselves. Hopefully that trend will change in the near future forced by the hand of the law and the IRS.
If you find out anything please share.
KDB
http://newsok.com/chesapeake-to-pay-119-million-in-settlement-to-roā¦
http://www.news9.com/story/28128713/chesapeake-sues-companies-assocā¦
Suzanne - My understanding is that Peggy DOās are supposed to be out next month.
anyone hear about a settlement from cheasapeake on wrongful charges to royality owners
Here is another link to some other information about Chesapeake; it is from late last year.
https://www.linkedin.com/pulse/20140930182055-34294120-the-top-5-chā¦
M Barnes, Thank you. I will keep plugging away at this. I think we have similar ownership I recognize the name Barnes as being one of surface owners in Sec 14 1S 5W.
Michael is right, the OK tax comes out. I forgot, so I overestimated. Anyway, put a good amount aside because those first yearās checks are the biggest you will see (unless prices change) and you need to be prepared. Hopefully, when the Chenier gas LNG plant goes online later in the year to export, then we may see a gradual increase in gas prices. Wishful thinking!