The attached file is from the Oklahoma Tax Commission regarding the production history of the Cecil 1-24 and the JJ Jordan 1-24. The hope is to get these wells plugged so mineral owners can lease their minerals.
2100-ProductionHistoryJJJordan124Cecil124.pdf (2.07 MB)Has anybody had any lease offers on this section?
If they can get the lease terms ironed out, my Aunt is getting $1,500/acre with 3/16 royalty... Marathon I believe.
I'm dealing with a similar situation, Don. Thanks for bringing attention to the court-proven fact that operators "fudge" numbers in order to keep acreage "HBP." I've just been up a good part of the night verifying that the recently settled Class Action suit against the operator of a well my family has significant interest in has been held since 1983. And their settlement figure is a mere slap on their wrist from the OCC, regarding what interest owners will receive and what they are actually due. I have letters that my father had his attorney write before his death which indicate he "smelled something fishy in Denmark" as early as 1984, just before his very early death at the age of 61, on New Year's Day, 1985. He and my grandfather ran cattle and farmed large tracts of of 34 and 27, as well as parts of 19 and 20. The flurry of Assignments, especially in 34 and 27 recently, is mind boggling. Although I'm pretty sure I'll be okay financially, I feel like David facing Goliath. It's quite a study, especially for this growing-older mind. I'd really like to get this straightened out so I can pass it along with much more understanding understanding than it came to me with! This forum has been an incredible help for me to get an idea of what's what. Or not:-) Thank you so very much for your contributions. You make a big difference.
Hi LB, I don't know that I make that big of a difference, but this forum and all of its members sure do! I am very thankful for this forum. I just wish that more mineral owners could know.
I ordered the report just to confirm that the wells were not being produced and if they were not being produced to get them plugged. Continental had backed out of leasing my aunt's minerals because they said the section was held by the JJ Jordan well. A 1,000 or so dollars later in attorney fees, we are still waiting on the JJ Jordan well to be plugged, but mineral owners in section 24 can now lease their minerals. The OCC gave the operator an additional 60 days I believe to plug the well. That time should be up soon.
Good luck with your sections. If you are referring to section 27-4N-6W, I would be interested in that section also. My family recently found out my grandfather (deceased) had 10 acres of minerals in that section.
I'd grab the bonus and RI, Rodne, asap.
I've seen similar reports as Don has posted. My experience is that the oil companies want these leases this is new territory - kinda'. And it's getting pretty expensive for the O & G Companies to purchase leases. I doubt 0 actually means 0. Go for $1500 and 3/16th, or counter with 1/5, if you can take the time for more money, $1300 and 1/5 is also a good offer.This particular tract has a seemy underside - there may be a weak link here.