I have 12 3/4 acres here . There is a well producing that started in Feb. I HAVE not received ed any money. Like 429 BBl a day plus gas. How long can Newfield hold my money. S/2 N/2Sw/4. S/2 Sw/4 Tract 1
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Are you referring to the Pickard 1H-17X well? it had first sales on Feb 27, 2018. The operator has to pay you six months after first sales or they owe statutory interest. They should have sent you a Division Order or will soon. If the first sales are at the end of a month, the time frame for when a check shows upmay slip a bit due to when the company cuts their checks, but you still get the interest if they are late. With two sections, there are hundreds of titles to verify. Newfield can be slow, but I like the interest payments!
What I usually do is write a nice letter to the operator and send it by certified return receipt mail. I give them my section, township and range, well name and I ask about when I will be put in pay status and remind them of the statutory interest of 12% if my title is clear.
The above survey shows that the Pickard is one of those wells with the Surface Hole in Sec. 8-8-5 but all production is divided by the lateral sections 17 & 20-8-5, 50% each…
But I have seen where they sometimes drill the next well in the opposite direction through Sec. 8 and it gets the production.
Maybe they will do that here.
Thank you hope so. That would be nice to have two producing wells.
I sent them an e-mail and talked with them. Reminded them of the 12% that was owed. It has been since Feb. 16th it went into production. She said should soon release the money. 229 bb per day plus gas.