Yes, that Q4 tax payment might be very important to prepay…
In reference to the KEM Ranch wells, Marathon seems to be getting a premium price for the natural gas when compared to Henry Hub prices. So far they have done better than Henry Hub. A couple of other companies I am tracking are below Henry Hub prices. I know the BTU factor is part of it, but with one exception the other companies are also selling “wet” gas.
Note 1: Henry Hub information source - Henry Hub Natural Gas Spot Price (Dollars per Million Btu) (eia.gov)
Note 2: Company information taken from EnergyLink statement details.
2 Likes
Camino has sent me a lease proposal for Grady 27-7N-7W @ 2500 / A with 1/8th interest. The well is Ralph Ellison well (proposal) also drawing from 22-7N-7W. Pooling order pending.
Given the activity in that area it seems it should be more.
Ernie
Ernie: I don’t see where these sections are being pooled, maybe you meant to say that Camino will be filing poolings. I’m sure that prices will be more, but these sections entail a lot of lots & blocks to the city of Chickasha so not too many folks have much acreage.
Pooling nearby was also at $2500 1/8th, $2000 3/16ths, $1800 1/5th, $1600 22%. Most of us would chose the higher royalty. In the long term with a successful well, the higher royalty far exceeds the bonus.
Camino’s letter said they were applying for pooling this well. Same breakdown of lease price and share per cent as above.
Camino is fracking the WAGNER 0607 15-22-1WXH and the LAUREN 0607 10-3-1MXH… The wells share the same pad in Section 10-6N-7W. Four oil storage tanks have been set and nat gas pipeline is being run.
3 Likes
How long after a forced pooling does the company have to pay out the bonus?
The time is listed in the pooling order. Most are about 30-35 days which might be business days. If it has been past that, send a certified letter return receipt requesting payment. You might have a title issue, so that may have to be fixed.
The date on the pooling order is 5/16/2022. Thank you.
Yes, time to hunt down the funds. I had to chase one after two years! Took calls and certified mail to finally get it.
1 Like
They don’t have to pay until you provide them a W-9. If the interest has any title flaws, they don’t have to pay you. I will also tell you that under Oklahoma law, pooling orders only give the Operator an obligation to pay.
Field Scout Don is back!!!
1 Like
I provided a W-9 months ago. I spoke with someone yesterday and was told they could not find the W-9 I provided. Her exact wording was, “it is probably sitting on someone’s desk”. Filling out a new one today.
Sometimes it takes extreme patience and multiple attempts to get paid…
This Topic is now closed. In order to provide clarity and value to the maximum number of people, simply choose the Grady County OK Category, create a short relevant title for your need, and establish your post within the Grady County OK Category.