I recently received a D/O from PO&G Operating. They purchased multiple properties from Camino. I looked up the assignment on OKcounty Records. It is for the wellbore only with an effective date of 1-1-2019 with restrictions to the deeper depths. Can someone explain what this means (wellbore only). I did receive a very small check from Camino months ago so I am not sure if PO&G owes a royalty from the date of first production or not. Our interest is in the Ellithorpe 1-29. Thanks for any help you all can provide.
Connie:
It means exactly that. The conveyance covers only Camino’s interest in that particular wellbore. Camino retains whatever interest it owns in those lands, outside the wellbore. This comment is without looking at the assignment. The DO from PO&G should state an effective date.
I’m the same as Connie. Received the same papers on that. Does it mean PO&G are just buying that one well but that Camino keeps ownership of mineral rights at all other depths up or down from that well?
I believe the Ellithorp 1-29 is a vertical well…right?
The new well on covering section (29, 4n 3w) is called the Sierra 1-32 H (or something like that) and it is a horizonal well drilled by Casillas I believe so these new papers have nothing to do with it I don’t figure. Still waiting on DO’s and first check plus our 12% interest from Casillas but nothing yet. We also have been getting very small checks from the Ellithorp (named for my brother in law and sister in law) well from Camino so I figure the money held in suspension just means for the money owed us just from when we got the last check from Camino don’t you think?
Yes I believe it is a vertical well. We are waiting on D/O from Casillas also. It appears the Sierra is in the same area where we have interest in several wells that have been producing for years. The D/O states effective date: Date of first production. The assignment states effective date 1/1/2019. Shall be interesting.