it just seems since the well produced in july 2013 that the first check arriving dec 2014 is kinda odd. we had a well start april 2014 also. would they wait to time-up the payments for both wells perhaps ? also does each well trigger a new division order ? each well has different lastname tho they are close to each other. finally when there are 4 owners within the Lease (i.e. my aunt my dad’s wife and the two wives of my two deceased Uncles) would all four each receive a division order ?
It would be more helpful if you add the state and county and the legal location. Rules differ by state.
august 2013 the well did 13,ooo barrels yet the first check wasn’t mailed til Nov 2014…is that that odd ? probably not I guess. I don’t see how what state or county it matters. except yes if for penalties of late payment I guess. Williams county north Dakota.
Not that uncommon. If it was a two section well, each of those sections has hundreds of owners and it takes months to get the Division Order Title opinion. In OK, they have to pay six months after first sales or have a large interest payment. I don’t know what the interest/payment rules are in ND.
yes thank you. not uncommon. probably the situation. i do need to find out if either of our wells are a two section set-up. both wells were quite similar in production yields. started off good then after 6 months they nosedived and stayed at a 35-95barrels a day rate. they are still running and i wonder if they may be candidates for that in-fill drilling technique Whiting has been puttin into action to perk up old wells?
That type of decline is normal in horizontal wells.
You can look up the wells on the North Dakota Oil and gas website for free. They have a mapping system as well. https://www.dmr.nd.gov/oilgas/
I I just received totality payments from newfield oil n gas, just wandering when those payments come in is it on monthly or yearly??.
They are sent out according to the terms you signed on the Division Order and the requirements of your lease. Most leases say months. Most Division Orders have a minimum payout of $100 and then they will send out. You can change that to $25. So as long as you have $100 (or $25) in accruals, they will come monthly. If you have less, then they may skip a month here and there. Look at the run statement that went with the check you just received. It will have each well and what month they are paying on and what product they were paying on. Save those statements for tax time.
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