They had a spacing case filed last year with a couple of protests and then the last activity I find on the OCC website is Third Notice of Continuance to May 2018. Nothing past that. Any idea what that might mean…like hearing was held and there’s not been a ruling or other filing since? Case number 201706008
Just have to be patient until they post.
i also have minerals in this section and my lease has expired im trying to get a new lease in place but there is 3 continuances on this and the latest one is in january
My lease in 30 expires spring of next year. At the pace they are going I’m wondering it it will expire before they start drilling.
I would think that your lease in 30 should be HBP due to the Buser 1-19-30XH
Sorry Duff B, I had just posted for 30-7N-6W so took your last comment as that instead of 10N-8W
the latest continuance is for january 29th and my lease expired on january 7th i tried to get the minerals released but it seams they plan on letting all the leases go out and pool them to keep the prices down
I care more about the royalty than the bonus. In the long run, a higher royalty usually far surpasses the bonus. Bonus only paid once, but the royalty is for one or possibly more wells. There are positives to pooling. It is essentially a six months to one year lease with depth constraints. You can lease above and below the zones that are pooled.
i dont know much about this but what would it involve to participate in the well rather than a lease
Working interest is not for the novice. You need to have a good understanding of the oil and gas business. You need to have a good oil and gas attorney. You need to have a good oil & gas accountant. You need to be willing to lose every penny that you put into it if the well fails and you need to have deep enough pockets to be able to pay the working interest bills every month-even if the well is not economic and your aren’t getting paid much in royalties. You need to have drilling and liability insurance because if the operator gets sued, all of the working interest owners usually get sued. AND you put that burden on your heirs.
You would pay in the percentage of your acres of working interest to the whole total. Not saying you shouldn’t do it, but lots involved.
i see you are a business member are you an oil and gas attorney
No, I am a mineral owner and minerals manager. I manage our family royalties across several states.
i also manage our minerals and surface we only have 5 properties and i learn more every day but land men are deceptive and tricky so i am always learning and inquiring to keep up on what they might try and get away with, my last round of leases could have been better contracts but i wasnt as knowlegible as i am now but it seems that the one i am working with now is being blocked i have litigated at the commission and worked hard to stay up on things by gathering info from the commission
Have you thought about joining NARO? National Association of Royalty Owners. They have an OK chapter that has annual meetings in the spring. Great place to learn about the legal things coming up, strategies for leasing, networking, etc.
ill look into that are you a member
My parents joined NARO back in the early 1980’s when it first started. At the time, it was the only group for mineral owners. They learned so much from it and kept encouraging me to join. I did and can endorse that sentiment. Transparency here, I am on the OK board now, so highly endorse the opportunities for learning and networking.
is there a way to visit a meeting without joining to see if its for me
I think you can go as a non-member. Might cost a bit more just for the meeting. The OK chapter meeting is in OKC this year. May 22-24. You can look it up at www.naro-us.org to get info. Not sure they have the registration open yet.
ok thanks ill look it up