How do I find out who owns or holds my Wells in Candian County SE/4 SW 4 Township 12 Range 5 West section 6. 4.6 acres. I’ve had some offers to sell. Thank u.
On my site: http://winbladlaw.com/records/ Scroll to bottom then click: Oklahoma Well Data Data Base, Search by Well name, Location, Legal Etc. Enter your location.
You actually own part of the well. The mineral owners own the wells. Wellco Energy was the operator of W. L Towe 6-1. That is probably what you meant. The well ceased production in 2014.
You are getting offers because there is about to be a horizontal well in that section and they hope you do not know about it. Native Exploration has filed several cases for that section. Do not sell just because you got a letter in the mail. Some of those are just trolling with low offers. Are you getting the paperwork from the OCC? If not, then come back here and ask more questions.
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Thank you so much, I did go on the OCC & I really don’t understand how to work the OCC. My acres are leased by master oil. Do you have to pay the buyers your bonus? Nothing @ all was mentioned I just was thinking. Do you know how long all this takes (guesstimate) @ the point I’m @ now. I do have a offer letter. Expiration is today @ 5:00 pm
When you lease, the lessee (company) pays you the bonus. When the well is drilled, you get the royalties from the well at whatever you agreed to in your lease. Usually that is 3/16ths, or 1/5th of the funds minus any post production costs if you agreed to them in your lease. Most of us don’t do that.
If you sell, then you will only get the one payment and lose any future payments. I don’t let anyone rush me on a sales offer. Common technique. They want to move onto the next person if you are not interested.