Virginia, maybe my message didn’t go through, hopefully this helps.
Need advice.We have just discovered that our family and some others have interest in a horizontal well that was completed about 4 years ago.No leases were offered nor were we forced pooled,somehow totally missed.Have been in contact with the operator but nothing definitive yet.Any opinions or suggestions on what our options could be would be greatly appreciated. Thanks in advance.
Has anyone heard rumors of White Star trying to sell some of their Garfield County holdings?
Rick, you should notify the operator. At the very least, you should be offered the pooling options or the option to lease. This just happened to me and I was allowed to lease on my lease form and Ex A at the pooling amount choices. If it was a good well, then I take the highest royalty choice.
Thank you M. This is the Edwards 32-5 21N-3W well,completed in July of 2014.Our interest is in sect.5 20N 3W. Devon was the driller however White Star Pet. is now the operator ,which I have been in contact with,but no answers or negotiating yet.Did not realize a lease could be had after the fact.We were missed because of very poor diligence of the land company by not searching a probate document.The pooling order(626576) had only one election,$450 with 3/16 royalty so not much of a choice. It seems you are implying that most everything is now negotiable. Is that correct and what did you mean by " allowed to lease on my lease form"? Also,what about a back payment and should we obtain old production numbers? Thanks again M, WHAT WOULD WE DO WITHOUT YOU!
The company I was dealing with allowed me to lease late but at the pooling rate. That seems fair. I had a depth clause that they missed, so their leasing title opinion assumed we were leased, but the division order title opinion found the depth clause. I have a really tight lease and no deductions which is what you want. Yes, you should get both the leasing payment bonus and the royalties. You can also demand under statute 52-570.10 your royalty payments and a 12% interest penalty. (Since there was some cloud on title, it might be 6%, but since it was their mistake, ask for 12%)
I have the production numbers.
We use your exhibit A for the most part, with the no deduction language,thanks a bunch.We also just recently received a 12% late payment on another situation in Grady Co.so are familiar with that.There was not a title problem, just poor land work.When you say you have the production numbers, is that for the Edwards well going back to July 2014? If so,care to share?
