What is going on with the drilling in Weld County??
I own minerals rights;
1. Gravel Draw 24-30H
2. Sievers LE17-62HN
What is going on with these 2 wells??
Also my LEASE is up. Can I release the minerals rights???
I NEVER get any information at all, Just want to know.Any information will HELP.
According to the COGCC website:
- It looks like the Gravel Draw 24-30H produced 177 bbl of oil in December so I would expect that the lease is still in effect. It looks like it was shut-in for approximately 5 months before that. Your lease should specify the 'shut-in royalty' details and payment timing (typically an annual payment of $1 per net mineral acre starting a certain number of days after the well was shut-in). Wells sometimes are shut-in due to operational issues (or periodically when the prices are low).
- The Sievers LE17-62HN last produced 202 bbls in Sept of last year and is currently in shut-in status.
Also, if the royalty you receive is below a certain threshold, Noble may have your account in 'suspense'. What this means is that they will accrue proceeds until the total amount reaches this threshold, at which time they'll issue payment (the threshold varies but I think Noble may use $25 based on past experience). If this is the case you can always call the operator's owner relations department and ask and they should be able to tell you how much is in suspense.
You can check into current production rates, well status (and what permits might have been issued nearby) on the COGCC Website. From there click on "Data" to goto the menu to search for well info (a well is a facility type so click on "Facilities" inquiry). If you want to look at a map view, click on the "Map" menu item from the main page and click the link that says "Click HERE to access interactive map".
I hope this helps!
My lease is up and ready for a new lease.Can I release my mineral rights.
If your Minerals are part of the drilling spacing unit for the two wells you mentioned then your lease is “held by production” by these wells. The primary term of your lease has an expiration date but if a well is drilled during that primary term and they produce according to the terms of the lease then it is still in effect.
If you have other minerals that are non-producing (not part any producing drilling spacing unit) as part of that lease and you have a solid Pugh clause or if you have a separate lease for those other minerals then you may be able to lease those non-producing tracts again. (separate from those that are held by the two wells you mentioned).
I can’t give legal advice since I’m not a lawyer so i would recommend hiring an attorney experienced in Oil and gas law should you fall into the second category I described above.