I’ve had trouble posting this, so if it is a duplicate I apologize. Drilling from 0705N01E into 1805N01E What happened? Pooling Order 659586 occurred 1/4/2017. Drilling finished 3/27/2017. Completion per form 2004 was 11/18/2017. Sometime around August 2017, I visited the site and spoke to a worker (alone there). I asked the status and he said that he thought they had broken something in the pipe at the first turn and was trying to decide what to do. So Charter Oaks piddled around, transferring to BP and then back. Their ultimate play was to get a “Temporary Exemption from Well Plugging” which expired 5/28/2021. What now? In May 2021, I was called by a Landman to see if I was interested in leasing at: $75 @ 1/8 royalty, $50 @ 15%, and $00 @ 3/16. Then I received in registered mail, Cause CD 202100750. It seeks to … “and vacate Pooling Order #659586” (even though they say it expired on its own conditions not being met). Next comes Cause CD 202100751 to drill a well near the above mentioned Ellis, and Cause CD 202100754 requesting to Pool Section 18 (I have no S7 interests). All 3 hearings were on June 1, 2021 at 0830. CD 202100754 was ‘certified’ 6/21/2021 and I received a copy via US mail on 6/25/2021. Pooling values were those mentioned above in the lease offer. Is it 20 working days or calendar days from 6/21/2021? That’s all I know, but my guess is that and that Charter will try to remove the obstruction before drilling a parallel, horizontal well. Anyone smart enough to really know what’s happening?
I wondered what the results were at that location myself. I have minerals next door at 5N 1E section 17. Who was the land man that made those offers ?
Capstone Land in Mustang, OK
You would have to go with 3/16 and zero if you do anything. I have never heard of options like that. I do think this area is becoming more in play with NG rallying to around $3.50.
It is 20 days from the date of the order. If you don’t elect then you are automatically pooled at $75 per acre with 1/8th royalty. In addition to sending notice to Charter Oak, it is a good idea to also file your election with the OCC.
This topic was automatically closed after 90 days. New replies are no longer allowed.