I am new to the forum. I stumbled across a link after trying to decode the OK Corp. Com. cryptic website. I just received notification from Hirsh, Heath, & White, PLLC concerning drilling and spacing near SECTION 17, TOWNSHIP 8 NORTH, RANGE 8 W, GRADY COUNTY, OKLAHOMA. What does such an application mean? What is the purpose or necessity for a ruling from the OCC? Will this benefit the current royalty owners or is it trying to circumvent the current leases? There is mention of draining the current “common sources of supply.” Where can one seek legal expertise without having to ‘sell my firstborn’ or ‘auction the farm’ just to protect a few barrels of production?
The OCC is the “governing body for oil and gas” in the state of Oklahoma. They have to approve all new wells being drilled. It is not circumventing current leases, you do not need a lawyer, it simply means that they will be drilling a well on your minerals in the near future.
WELOME to the forum!
The Oklahoma Corporation Commission (OCC) sets the drainage areas for each reservoir also known as “common source of supply”. This is perfectly normal and generally good news for the mineral owners as it usually indicates that an operator is getting close to drilling a well or wells.
This also means that you may start receiving offers to purchase your mineral interests.
This post is not legal, tax or investment advice. Reading or responding to this post does not create an attorney/client relationship.
Thank you for your responses to my questions. There is indeed a new well planned and, yes, we are garnering several offers to buy our mineral rights. I remember, as a child, the excitement of the first well drilled on our section, the Jack Stewart # 1. Now, 50 years later, the area is all abuzz with activity as they are now using different techniques and strategies. I wish my father was still around to see the progress in the industry. Times have changed. I doubt they would allow a curious little redheaded girl to visit the rig like they did back in the day. I really am glad I stumbled onto this forum. You have helped me immensely.
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Your father would be interested to know they can make drill pipe go around curves without failing.
The more offers I get to buy my acres, the less inclined I am to sell them. Our family would rather have the royalties for the life of the well(s). Horizontal drilling has been a game changer!
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