I assume forced pooling is the name for assembling all mineral rights owners into one group---such as in a populated neighborhood or section with many different royalty owners. If this is true, then do those forced into the pool pretty well have to accept the lease terms?
There is a difference between accepting lease terms and being forced pooled. Is someone trying to lease and telling you they will force pool you if you don't lease or are you being forced pooled now . If you tell me the section,township and Range I can look it up and see what is going on and how much they are paying around there.
Ron, My property is in the west half of the Payne County Fair Grounds section, that is, Sec17 R19N T3E. Blue Star Land Services, on behalf of Devon Energy, has sent us the "pre" lease agreements (we have several small parcels). They are offering $200/acre for a three-year term reserving 18.75% royalty. The letter states that Devon plans on filing a force pooling application in the near future. I'm just wondering if this is a fair deal & the going rate for the area. I'm pretty sure the going rate in the Washita County area is or was near $1,000/acre. Are the wells out west that much better than those in Payne County? Thanks for any advice.
Ron McKenzie said:
There is a difference between accepting lease terms and being forced pooled. Is someone trying to lease and telling you they will force pool you if you don't lease or are you being forced pooled now . If you tell me the section,township and Range I can look it up and see what is going on and how much they are paying around there.
They are paying $250 in the pooling ,plus you get a depth clause ,no deduction for compression , transportation , and other post production charges. Plus they have a year or less under the pooling to drill. They have started the paper work for a well in 17 but have not filed for the pooling yet.