Thanks Matt for the information on how to contact Marathon.
John
John,
Sent friend request. If accepted I will send msg with letter I sent to Marathon. I received interest approx. two weeks later.
Ā§52-570.10. Payment of proceeds from sale of oil and gas production.
A. All proceeds from the sale of production shall be regarded as separate and distinct from all other funds of any person receiving or holding the same until such time as such proceeds are paid to the owners legally entitled thereto. Any person holding revenue or proceeds from the sale of production shall hold such revenue or proceeds for the benefit of the owners legally entitled thereto. Nothing in this subsection shall create an express trust.
B. Except as otherwise provided in this section:
- Proceeds from the sale of oil or gas production from an oil or gas well shall be paid to persons legally entitled thereto:
a. commencing not later than six (6) months after the date of first sale, and
b. thereafter not later than the last day of the second succeeding month after the end of the month within which such production is sold.
Such good news for a good friend of mine about the completion of the new Whitt wells. I am so thrilled for her!!! Sheās always been a hard worker and so deserving. Sheās been a new Christian sister for about 3 years now. Boy, has the Lord blessed her!!! Yepee!!! Couldnāt happen to a sweeter person! See below:
Whitt #4-25X = 1,118 bbls. oil per day and 2,855,000 cu. ft. gas per day
Whitt #5-25X = 1,041 bbls. oil per day and 3,890,000 cu. ft. gas per day
Whitt #6-25X = 416 bbls. oil per day and 1,426,000 cu. ft. gas per day
Whitt #7-25X = 802 bbls. oil per day and 1,757,000 cu,. ft. gas per day
(All of them are in Stephenās county)
hey, hey, hey, āglass is half fullā. Oil has taken a good jump up today by about $2.67 a bbl. for WTI. and even better for Brent Crude! Everybody, get in those gas burning vehicles and drive, drive, drive!!! lol
Linda,
Newfield has unitized Sec. 1 and Sec. 12 (Baxendale Unit) and Sec. 13 and Sec. 24 (Hunter Unit). The workings of the units are similar to that of a waterflood unit in that well ownership will be the same for all wells regardless where they are drilled or how long the laterals. This allows all the wells to be produced into a one tank battery thus saving a lot of money on surface equipment. All current wells proposed in the units are expected to underlie each section in nearly equal amounts. Waterflood technology would need to make major advancements before the Woodford could be flooded.
Jennifer, probably due to commodity pricing, what your royalty is and with oil being $38 a barrel.
Does anyone have any details on why Oceana (Stephens 1N 5W ) royalties have been so sparse?
Intents to drill in Stephens Co. in the Oklahoman yesterday:
Hunter #2H-13X well (sec. 13 2n4w) Newfield
Hunter #3H-13X well (sec. 13 2n4w) Newfield
The Whitt wells listed in my first post were all Newfield wells too. So Newfield has been going full speed ahead in the SCOOP sounds like to me!!! Go Boys Go!!!
Just checked oil prices and the WTI was up by $3.44ā¦hope it keep going up for a while! Sounds better anyway!
I believe the Hunter wells were drilled on the land that Newfield just purchased from JoAnn Hunter (another good friend of mine). Iām also tickled for her except that when she sells the house and 40 acres it sets on now she will be moving closer to her kids. I will surely miss her!
What I heard here while back is that those Hunter wells will be put in a flood but donāt know if thatās true or not. Thought they usually did that for old wells that werenāt making what they once did but didnāt know they put new wells in a flood. Can some of you experts comment on this? Thanks!
Also in the Oklahoman:
Stephens Co. Newfield, Clarence No. 1H-23 well it was listed like this 44.6 bbls. oil per day. Donāt know if they meant 446 bbls. of oil per day or it they really meant 44.6
Lawrence,
If you accept my friend request I will send info regarding interest demand.
Thanks, soonerpe, I believe you explained that to me earlier but I had forgotten.
Two partially collapsed lateral well bores recently, Springer/Goddard drilled by Newfield Jarred 1H-16 in 16-2N-4W and Clarence 1H-14X in 23-2N-4w they were to be 1280 units, but now appears theyāll re-space at 640(?). Anyone have knowledge of this? DB Glass
Had an offer for sec 6 02n 04w for 6500.00 yesterday. About 1/3 of what was being offered about 8 or 9 months ago. Not selling.
$41.32 for oil as I just checked it for West Texas Intermediate (WTI)