Can anyone tell me what an update of title means?
Adding copies of all relevent new documents to an existing abstract of title to make the existing abstract of title current.
Thank you r w I was hoping you would answer this…the question may have sounded self explanatory but I just needed some reassurance
Yes
How did you know?
Yes I did...after 10 months of the run around.
It wasnt much. Do you have interest there? Ive been hoping to talk to someone with realtions to stat..or lack there of
The Sr. Division order anaylist responded to me via email after I laid everything out on table for her ..this is what she said : the pyramid well has been sent to an outside attorney for update of the title. As soon as receive it, we will send new division orders. It has alot of changes and transer was sent with other documents. And orders should be out soon , altho it is in the attorneys office. Now I dont know if she meant my particular situation or many. Altho I do feel they will be coming soon. Said they are very behind and these paticular wells were difficult but top priority.
Its ridiculous
It's not surprising the state allows the operator to drill, you don't have to lease or participate in ND but you can't hold up the production of someone's minerals who did lease.
There are much abused mechanisms in place, such as unlocatable mineral owner trusts that any party with an interest can petition for and which the court rubber stamps.
The county treasurer becomes the trustee and signs any lease put in front of them, taking one half of the signing bonus for the county, no matter how bad the lease is, as one penny is greater than no penny so any lease they sign is in your best interest, and if all steps were properly taken, there is not thing one you can do about it after. There is far too much to gain for an operator/potential lessee to not look for a mineral owner very hard.
In one case I know of, there was not even an affidavit of due diligence saying the petitioner looked for and could not find the mineral owner.
The state is far too money hungry and wants wells drilled for tax revenue. Now that there is a sizable surplus, the state should at least slow down and make sure things are done correctly, legally. Crazy talk, I know.
Did you get division orders yet?
My great grandpa donated the land for the Sorenson addition...
I am very new to alot of this oil talk but have been doing my best to get educated in a hurry
Does it really matter to the operator? I've heard the number thrown out that 85% of people sign the first lease placed in front of them with no negotiation. Only if those who were never approached decided to participate or lease to someone else would it really matter. Stat would have the proceeds from production in any case until it was all worked out on 40 acres in a 1280 spacing? The operator does not owe interest on late royalty payments if the mineral owner does not have marketable title. There are a great many people who do not have title in their name at time of well completion.
The operator wanted that well and the state wanted it, there was no way the state was going to stand in the operators way. All the rest is details, that can be worked out later, worst case they can buy off a mineral owner with a little more of the mineral owners own money from the oil. Why would they wait?
Luke Aafedt said:
In this case, they drilled without even doing title on portions extending under the city of Williston, i.e. Sorenson Addition (approx. 40 acres).
I believe they look for title problems to avoid interest...good enough to sign a lease and then they cut off contact. In other words get what they want then gone. Poof feels like they robbed ya
Love to see state politicians touring the site too..laughable
I got a chuckle from seeing the headline about politicians touring oil fields in NM being exhillirated. The first thing that came to my mind was they should be more careful with the H2S gas ; )
Hilary Sorenson said:
Love to see state politicians touring the site too..laughable