I have just found that my grandfather willed me mineral rights in McClain and Pottawatomie counties. I wouldn't have know if I didn't receive an offer offer of 500.00 for my interests from an investment investment firm. I have now received a notice of hearing from Ok Corporate Commission in regards to "Relief Sought for drilling and spacing units" .
What does this mean to me and what shall I do?
I reckon I have some research to do!
Do you have a legal description for the Spacing application?
I believe so? S/2 of section 32-7N-2W,McClain County Ok…if that’s not it,where would I look on the documentation?
That's it, I see your name there on the spacing order. What this means is that the company, Charter Oak, is going to be creating a drilling unit consisting of the South-half of section 32, containing 320 acres. I would imagine you have some undivided interest somewhere within those 320 acres.
I added you as a friend. Please accept and we can discuss your options.
Thank you Jordan!
Jordan Murray said:
That's it, I see your name there on the spacing order. What this means is that the company, Charter Oak, is going to be creating a drilling unit consisting of the South-half of section 32, containing 320 acres. I would imagine you have some undivided interest somewhere within those 320 acres.
I added you as a friend. Please accept and we can discuss your options.
Call Charter Oak and lease your minerals to them or they will end up pooling you. I purchase mineral rights in McClain and Pottawatomie Counties and $500 with a lease on the table is too little.
Mineral Joe
Why not let them pool him?
Because you'll get the same bonus but you'll get a standard lease with no possibility of negotiating versus asking for a few clauses to be added to your lease like depth, shut in, deduction, etc.
You may want to review this article. http://www.mineralrightsforum.com/profiles/blogs/i-may-own-minerals-so-now-what