Terry,
Yes, I was talking about my December royalties. If you did not get your first check within 6 months of the first sales date, you should get 12% interest payment for all sales from day-1.
Daniel. There is no rig on the Dubel. That is why I am anxiously waiting for a spud report. I guess it is kind of like money in a 401k. You know it is there but cannot touch it
Daniel, down by the Spectrim Mall?
Terry,
Here is the SPUD report TYER 1-2H12
http://imaging.occeweb.com/OG/Well%20Records/03025501.pdf
Notice the date. That seems like a long time, even for 4 wells.
There is another pad set next to those 6 well I think it must be a compressor pad but there not anything on it yet it has been there about a year it is bigger than the well pads.
Thanks for the info. Bob Titley.
Bob, I’ve been reading up on the Woodford SCOOP project. Wow that is really quite a project. Thanks for bringing it to my attention.
Shirl,
I live in Irvine, about 20 minutes south of Disneyland between the I-405 and the I-5.
Daniel, I noticed that Jay Christian sign papers on what I think are several old well dated 1/3/11 and 1/4/11. From papers I received through my aunts estate I know that Thomas Jordan and Carrie Jordan purchased the property back in 1913 with mineral rights. Years later Carrie Jordan sold the property to a Mr. Christian. The mineral rights were split up with 1/2 going to Bessie Jordan and 1/4 each going to George and Barbara ? Since I don’t know if George and Barbara were relatives of Bessie or of the Mr. Christian, I’m not sure who now owns the other 1/2 shares. I’m assuming the ‘Christians’ family still owns the property (land).
My royalties stay 2 months behind from XTO
Shirl, probably not much leasing activity yet, but Continental’s map from their shareholder presentation shows you right in the middle of the southeastern end of the oil fairway for the Woodford in the SCOOP area. It should be a pretty good resource for you someday…but you may have to wait till the get to it. It also shows they leased in sections near you, but it is not in the main area of their leasing activity…yet. There are only so many good landmen, and lots of acres and mineral owners to work through.
Daniel, I discovered who George and Barbara ‘were’ Bessie Jordan had a brother Wade aka Watis who had two kids G & B. Since they are All deceased, i still don’t know who owns the other 1/2 share.
Oh, and we live in Norco and drive through Irvine often, would be nice if we could get together sometime and discuss mineral rights.
Yes, it has a lot of potential, although the numbers Continental are throwing around are likely inflated for wall streets sake. I am waiting until I see the first Woodford horizontal well in the area before I get too excited.
Shirl,
That sounds like it would be fun.
Terry,
The 12% interest on late payment is a State Law. XTO calls it statutory interest.
notice to vacate existing spacing and new drilling and spacing units…SEC 18 TWP 5S RGE 1W CARTER CO. Can anyone fill me in on the progress thereabouts ?
Micheal,
I can’t find anything on your spacing, etc, etc.
Any new activity in Carter Cnty, Section 9, Township 5 South, Range 3 West? I have a lease offer; although this maybe held by production already.
Patrica,
LUCAS #, API 019-00379, was drilled by Cities Services Petro. Co. in 1961 and produced 40 bpd. In 1980 Mack Energy of Duncan purchased the well and in 1995 Mack Energy PLUGGED THE WELL.
Is RD Williams offering you the lease? Remember all leases are negotiable, but they are written in favor of the oil company.
What are the terms, ie signing bonus and royaltie percentage. These are negotiable. 3/16 is common, but it can be 1/4.
Patricia…On Continentals SCOOP presentation map, 9S-3W shows an oil rich zone and also indicates they have been leasing heavily in the area. There are just a few companies that are competent and good at the big horizontal wells…which the SCOOP Woodford is about. The older smaller independents generally don’t touch that, but what they WILL do is lease and develop another formation holding the Woodford, then try to sell it to a bigger company or use it to get a working interest in a bigger well. You can negotiate any terms you want with a lease…companies are used to mineral owners having a rider they attach to leases with added provisions. One thing I have begun doing with vertical developers is excluding the Woodford Shale formation from their lease. If you have a lease offer, it probably is not held by production…landmen don’t waste time making offers on leases that aren’t available. If I were you I would sit tight and not get too impatient…wait and see how Woodford development in this area progresses. The oil companies know a lot more about what is under your land than you do. Wait and gather more information. The Woodford has the potential to be a bog resource and you don’t want to give it away too cheaply. If Continental’s numbers are halfway right, a $500 bonus 1/5 royalty could be worth several million dollars less than no bonus 1/4 royalty per section. I will not negotiate with landmen unless they reveal who they are representing and who we are actually leasing to. They don’t like it but with the bigger companies they have never hesitated to tell me.