Goodmorning everyone can some explain about depth clauses.
Martha, Thank you for getting back to me; I will look tomorrow morning and give you some of the wording on the lease. I believe there is no depth clause but the lease is from 1942 and itâs challenging. Thank you again, Kim
Recent Linda.
Blaine County. Itâs been going on for five years. Just got the class certified a few months ago. I heard CLR was appealing the certification and they might be negotiating. I donât know much more than that. I have a few documents (amended petition, order of class certification), about 200 pages of interesting reading. I have talked to the court clerk in Blaine County. I was wanting to request more documents. She said there were 10,000 pages of documents associated with the case and that I needed to be more specific. I didnât pursue it. I have had a long conversation with the attorney for the plaintiffs and the accusations are pretty eye opening.
Echo offering $20K/MA in section 10, 2n4w.
Royce,
CLR is involved in a class action law suit that involves deduct clauses and numerous other issues. Myself and others, that I know, are in the same boat and it is highly unlikely that this issue will resolved until the class action is resolved, if then. CLR has taken the position that honoring these clauses was a mistake and refuses to reverse this position. They claim that they are prohibited, by the courts, from discussing the issue with any one in the class, which would include you and I. If you want more information about the suit contact me.
My mistake Royce. This does not apply to NFX.
Thanks Gary. I also have some Royalties being paid by CLR in another section, but I am being paid by them without the deductions. Basically the same lease I have with NFX. Iâll review my checks from CLR.
Royce, It involves all CLR wells in Oklahoma. They are paying some people with no deduct clauses and not paying others with the same clause. In my case they were not taking deductions until the new Poteets came on line and then they reversed their postion and started deducting. But the suit is much deeper than that.
Thanks Rick and all for the info. Rick, are you still running?
I received 55 pages of paper work with our last check from Newfield on the little bit of royalty we have in sec. 16!!! All Greek to me. I wouldnât know if weâre receiving what we should be or not. Guess Iâll take their word for itâŚShore AINâT what it used to beâŚCanât imagine what mounds of paperwork you guys and gals with large amounts of royalty are gettingâŚMaybe I can figure out how to glue them all together and build that new house I wanted to build when the price of oil was up! lol
JohnâŚis that a recent offer or in the past?
Looking at the Stephenâs County Records just now saw that there were 2 more oil and gas leases recorded yesterday by Continental. Taking that as a positive sign these days!
Gary, Royce also has interest in the Poteet. Royce, Gary is my cousin.
GARY RIDLEY-----CLR CLASS ACTION
where is the lawsuit filed and what is current status ?
ROBERT R
I have a question about Newfield. I have and interest in 19-2N-4W. My lease agreement says no deductions. I asked about this when I received my first check in late spring. The company agreed with me and said they would have to reset the computer for all the wells and it should be done by Sept., and they would refund the deductions already held out at that time. My check still shows deducts, and I did not receive a check for what has been withheld. Should I do anything else besides call and see what the hang up is.
Thanks, Royce
Linda, Iâm seeing lease and purchase offers on areas outside of 2N 4W. More offers the last 30 days than Iâve seen all year if yo donât count the section I was force pooled in. Things may be looking up despite the price if oil.
Gary, does the suit with CLR involve the Poteets in sections 19 and 20 of 2N4W?
Go to www.oilexports.com, click on Make Your Voice Heard to send an email to your congressman to lift the ban on oil exports.
Sec 35 was pooled in 2014 for $1800 3/16 or $1500 1/5
Sec 28 was pooled in 2015 for Springer only for $1000 3/16
lots of companies are leasing 34. 1/4th is being offered.
GayâŚI did that and our rep. emailed me right back with a thank you for doing so.
YahooâŚoil prices are on the rise again today!