The assumption here is that there are no issues with the title, the “pooled” horizontal well is drilled without incident and oil in profitable amounts is discovered.
What would a reasonable timeline be, from the point where the well is completed and oil is produced and sold to when the first royalty check is issued? The well is in Weld County, Colorado.
Would a year be a good guess? Maybe 18 months?
Bob
Robert:
If there are no title problems, you should receive a division order (after the first sale of oil) in 4 to 5 months and payment should follow thereafter. If the operator delays the payment (clear title involved), they could owe interest to you but not sure what the rules are in Colorado regarding this.
Robert:
If there are no title problems, you should receive a division order (after the first sale of oil) in 4 to 5 mos. and payment should follow thereafter. If the operator delays the payment (clear title involved), they could owe interests to you but not sure what the rules are in Colorado regarding this.
Thanks Charles,
Bob