Hello, if anyone happens to notice any activities for either section 30 or 31 would y’all mind letting me know. I greatly appreciate anything. Also Happy Halloween everyone! Thanks so very much!
Hi;
Township and Range are also needed before those Sections can be looked at .
Sorry I missed that, 10N 08W. Guess I’m not multitasking like I thought. Thanks!
Sure. You were thinking about that information, but didn’t write it out. Been there done that.
Some people on the Forum can really look deep and specific.
I, only know how to Generally Look around because a friend told me how.
Go to Okcountyrecords.com
AND type in That information. Can see some about those Sections.
Then retype that information BUT change the Section Number ONLY to see what’s going on around you outside of your Sections.
TPR had cases at the OCC for 10N-8W-30 & 31, but they were dismissed in April of 2019. Covid hit in 2020 and demand went down so drilling went down. There is a bit of recovery in later 2021 with some activity by Camino in sections 12 & 13. Time will tell. The wild growth days have taken a pause and operators are having to live within their cash flow these days, so drilling is more cautious for now.
I was also wondering about 30-3N-6W; I have seen activity for buying/leasing in Sections 30,31,32 …are there public surveys to determine the amount of oil/gas left on this section? I know that my greats and grandparents leased this section out years ago, once for three years and then for five years. After that; no activity on that spot. Thank you for your time and for all of the information you share!
Nothing new on that section. It is too far to the west for the current plays. The Woodford shale is very thick there and it has potential for gas, but it is very deep and the economics don’t work for it yet.
I know an OGL dated early May 2019 & filed 06/24/2019 between mineral rights owner & Continental Resources exists, with a 3 year term. When that date is reached exactly what is the process after that if no attempts of production have happened?
If they have not drilled by the expiration date (not the filing date), then the lease expires. The caveat to that would be if there is a two section well including your acreage that spuds in the other section or a contiguous one. If you want to look up if there is production, then use the OTC tax site. Or one of us can look it up for you.
https://otcportal.tax.ok.gov/gpx/gp_displayPublicPUNListSearchDownload.php
The lease expires, unless your lease has an option to extend in it. With no option, you are then able to lease to any party that is interested.
Good morning, I pulled up the lease and to make sure I understand, it states 3 years from “date above” - meaning not filing date? (1st day of May 2019) - which would be expired May 1st 2022? And as for any option to extend my comprehension is this option is only available when qualifying production exists. At least that’s what I got after 4th run through:) Finally, m Barnes I don’t think I have a grasp on what exactly I’m looking for for “contiguous” precisely. To be embarrassingly honest I had to hunt out the big dictionary in my grand daughters room for that one. Maybe you could expand on this? And to everyone, I can’t thank you enough!
At the very top of your lease, usually on about the first line, is the effective date. That is the date you want to look at. Sometimes, leases are not filed for months after they are signed.
Many of the newer horizontal wells want to capitalize on the amount of perforations allowed in a section. So they may have a well’s surface location just outside the sections they want to perforate. Contiguous means “touching”. Here is an example. It takes several hundred feet to make the turn between the vertical portion of the hole and the horizontal section. They usually perforate only the horizontal leg of the well for lots of reasons, so they will put the surface location in a section touching the first section where they want to perforate. They will use the section with the surface hole to drill down vertically and make the turn. They will not perforate that section. The picture shows a brand new well where the surface location is in section 1, but the well goes north into sections 36 and into 35 and 36. Section 1 mineral owners get no royalties, but 36, 35 and 26 get royalties in relation to the percentage of perforations of the whole well. The Corporation Commission sets the rules for how close the perforations can be to a section line. Those are outlined in the cases that go with the well. As soon as the easement is passed, they will perforate from that point until the easement at the end of the well.
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Well I can comprehend what you said so much more than this craziness of a lease! Thank you for the knowledge m Barnes! I am blessed!
Yes, Barnes has helped most of us here. Also, can you believe so many people just sign those leases and usually lose-out on thousands of dollars in revenue ( deductions alone would pay that much usually) Please get with an attorney if you are not familiar with the language and terms in a lease!!!
Well bud I’m thinking she may well have missed her calling she should be a professor man! I’m just so grateful for all of y’all And definitely I’ll be finding a professional soon cuz that lease language just confuses me to no end!
Yes – please get with someone to review any new leases::: get that ALL important Exhibit A attachment that outlines YOUR requirements.
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