just tapping our fingers.... waiting..... now that the well's been frac'd ;' /
Larry:
I believe division orders are sent out within 90 days on the average but I would contact the operators main office and speak to the department that handles division orders.
Larry, in my experience it has taken longer. I would give them 5 months and if you haven't received the division order I would inquire. Some of my division orders took 4 years and starting a lawsuit before I received them. My brother who has a similar interest still does not have his division orders for 3 of the 5 wells.
Depends on state, Oklahoma allows 6 months before 12% interest starts. My 6th month passed this week, still waiting. Operator says next month. R.W, We have been calling every couple of weeks since month 4.
thanx for the response r.w., charles and Michael. looks like the answer must be mostly dependent on the operator's company policy. Your experience sounds terrible rw, among a group of none sounding great.
I guess now I want to re-phrase the question. When does the clock officially start?
Larry, in TX, I don't believe that there is a clock for you to receive a division order. If you search "Are There Texas Oil Companies whose Division Orders are know to contradict the lease" might be easier to go to division orders on page 3 and look for that title, it's on the first page after you click on the big blue Division Orders, Buddy Cotten made a reply with a link (it's a blue "here") to the TX. Natural Resources Code- section 91.402 Time for Payment of Proceeds which you may find enlightening. It appears that payment should be due 120 days after the end of the first calendar month sales were made. I did not see a time limit for when you receive a division order. I think that you will find it interesting if you look it up.
r.w. - sorry, my vague question caught up with us. the well is in Oklahoma.
It's very informative still though. I suspect the month of the 1st sale is a pretty common date to start 'the clock'. I will check out your recommendation to get some familiarity to the topic. Thanx again.
My fault, I just looked at your page to see where you lived, I should have scrolled down. I think there should be something similar for Oklahoma to the TX regulations. I'm not familliar enough with Oklahoma, and I can't recall any threads that included the information on division orders and payment in Oklahoma, to direct you to them, though. Michael Hutchison may know where to look.
Larry, From OK Statutes:
1. Proceeds from the sale of oil or gas production from an oil or gas well shall be paid
to persons legally entitled thereto:
a. commencing not later than six (6) months after the date of first sale, and
b. thereafter not later than the last day of the second succeeding month after the end
of the month within which such production is sold.
thanx Michael.
Michael Hutchison said:
Larry, From OK Statutes:
1. Proceeds from the sale of oil or gas production from an oil or gas well shall be paid
to persons legally entitled thereto:
a. commencing not later than six (6) months after the date of first sale, and
b. thereafter not later than the last day of the second succeeding month after the end
of the month within which such production is sold.