Where are we at in the process of being paid?

[Barbie59]

I am a complete newbie to all of this. My siblings and cousins were notified about a year and a half ago, by Bearcat Land Dev. who was representing Continental Resources, that we were the heirs to mineral rights in several horizontal wells in Stephens County, Oklahoma, specifically the Springer well, and several others. Long story short, Continental went to court and declared all of us the heirs, along with a slew of other people in January of this year.

Then they went to court again several times to split the wells so they could drill more oil per day.

At least that is what we could understand in the numerous envelopes of paperwork from Continental attorneys and the State of Oklahoma. The President of “Bearcat” has spoken with my brother and my cousin many times, and they also saw them in court. They have told my brother and cousin, “you are on the sweet spot, where everyone wants to be.”

I understand the main well has been in operation since 2014, and supposedly there is an account in suspense that is to be paid to the heirs. However, when it comes to money, we cannot get a straight answer out of them now, as to when any payments will take place. We are all receiving multiple offers for our shares from many different companies, by mail, email, phone calls, and text messages. I don’t understand any of this, but it seems like the oil company and their landman are jerking us around at this point?

[M_Barnes]

I believe you may be referring to the hearings at the Oklahoma Corporation Commission. If you post the section, township and range, we can help you with the timing on the wells drilling and when to expect payments.

It is helpful if you put the cases in numerical order and then by date order. They are easier to read and understand that way.

To drill a well, the operator must get permission to drill in a certain reservoir(s) which must be spaced for drainage. Then they must request permission to drill a well(s) and tell where it will go. Most are multi-section horizontal wells in OK. Then they permit the well(s). Drilling and completion may take five or so months-more if there are multiple wells. Title work takes another five or so months before they issue Division Orders, then royalties can be paid out. So maybe a year from the spud of the well(s). Patience is required!

We can tell you the status of your wells and then what to do when you get the Division Order.