@Stephanie Wilbanks, CPL
I received bankruptcy forms from Linn on Texas properties maybe 8 months ago or so.
In our case, Linn was the Operator and another party was the payor (Oil production only), so we have not missed a beat. The Payor is netting back to Linn, so royalty owners are totally unaffected.
Best,
Buddy Cotten
Re: Linn Energy bankruptcy has anyone received claim forms in regard to the Chapter 11 reorganization? I filled out and returned a claim form on royalty payments. I received an objection and rejection to my claim. A representative then returned my phone call. She was very difficult to understand and the voicemail message but I think the just of what she was saying was that royalty owners were not affected by the bankruptcy and therefore don’t need to do anything. Is that everyone else’s understanding? I been working on some of the litigation claims I think my mind is so overloaded and confused.
I have just gotten into the leasing discussion and am trying to learn all I can about it. My family has just received a letter from Laura Mink of the Corterra Energy group and they offered us a lease at $75 per net mineral acre at a 1/5 royalty. I think this is a bit low so I have tried to find out if I should ask for more. Just yesterday I received a letter from her saying that Corterra Energy wants to pool our group. We are in Sec 15 Township 5N 9E. There is a hearing in Tulsa about it and my family is going to attend. I would like to wait for a better offer myself. Are there any comments about this to advise us?
Thank you all very much for creating this group and letting us into it.
Jeff, most likely you only have the mineral rights since most of the mineral rights were severed a long time ago. The document that gave you the rights (probate, etc) should list them. There are several places to hunt. First place is to start with the executor if possible.
You may lease the mineral rights if you have them. You may already have production depending upon where you are. If you have surface rights, those are leased separately. Oh, yes there are quite a few things you need to know about the mineral lease contract. Start with reading the MINERAL HELP above, the BLOGS and read over the last few months here in Huges. You might want to pop over to the Stephens or Blaine counties to read all the comments about leases. You want to make sure you have a very good lease. What you will be sent by a company on the first round is totally in their favor, not the mineral owners. Friend me with the blue icon if you want more details. I am a mineral owner, not a broker.
I have recently inherited mineral rights in Hughes County and I was hoping if someone could answer some questions for me? I know I have mineral rights, but I am not sure if I have surface rights, does anyone know a good method of finding this information? I was also wondering that if I have only mineral right can I still lease them, and is there any special items that need to be in the lease contract?
Sam, if you are going to the hearing, make sure that it is being held. They are quite often postponed. I don’t see it on the pending list. Confirm before you go. You will find it very informative. You can lease ahead of it, you can lease for a very short time frame after it, but you will only have 20 days in which to sign the pooling order.
Ask for more, but it might not be much more than that. It is in the ballpark for that area.
You need to make sure if you lease, that you get the best terms. The first lease they send you will be mostly in the oil company favor, not yours, but every clause is negotiable. Friend me if you need some help (blue icon). Make sure you get no post production charges!
M Barnes, Thank you very much for your info. We will make sure to attend if and when they hold it. I will make sure we get no post production charges as well. I will let you know how it goes with the hearing.
Wondering what mineral rights are selling for near Holdenville, OK. Have 20 mineral acres. Twnshp 6 North, Range 9 East, Section 29. My mother is reaching 89 and thinking that she might want to have a little extra money. She has a lease with Continental, but might want to sell instead.
Terri
I went to the OCC database and checked out wells in the Hughes County in the Sec29,Twnship 6N and found wells in 8E, but not 9E, so I guess that means that they haven’t started yet. Is there a database of well permits that can be searched by location?
Terri
Terri, there is lots of activity in your township, with applications for spacing, multiunit wells, poolings, etc. Seems to be at least two companies seeking orders. I think the nearest section to you is 20.
I haven’t looked at any of the filings, but you may want look on OCC Weekly Dockets, pp. 26-29, 34, and 41, to get some idea of activity. I just hurriedly scrolled through, so there may be more. Next weeks dockets will replace these, usually on Thursday.
There is a database that will allow for specific searches, but I have not been successful in getting my computer configured correctly. I wish for a clear tutoral for this. HINT–HINT! If some kind soul could help, I’m sure lots of us would be thankful.
http://www.occeweb.com/og/2017%20Database%20Instructions%20Updated%20(2).pdf
Here is the guide to the OCC databases. Head to page 29
I have a MAC, so finding the Dockets won’t work for me unless I download JAVA which I don’t particularly want on my machine. I use a paid service.
Thanks Martha. I’ll try again. Your knowledge and willingness to help us is appreciated.
Anybody have any contact info for WSGP Gas Producing LLC out of Houston? They are taking a lot of Hughes county leases but I can’t find their phone number or if they are using a broker I can’t find out who it is. If you’ve dealt with them I’d appreciate a name and phone number.
According to Bloomberg, WSGP Gas Producing, LLC was incorporated in 2010 and is based in United States. WSGP Gas Producing, LLC operates as a subsidiary of NextEra Energy Resources, LLC.
700 Universe Boulevard
Juno Beach, FL 33408
United States
Founded in 2010
Florida Phone: (516) 691-7171
Jones 1-1H?
is xto still producing in section1township 5n range10e
I own mineral right in Hughes County Township 07 North Range 09E. Section 01. Does anyone know what leases are going for in this area?
Sec 20-7N-9E recently pooled for $100 3/16th or $0 1/5th, so that is the ballpark number. This is gas and not going to go for huge amounts.
Section 21, Township 7N, Range 9E received lease offer from Silver Creek Oil & Gas 3/16 for 375/acre. I’m responding with an exhibit A which includs a shut in clause. I’m not sure what value to put in the phrase, "Lessee pay to Lessor’s royalty, after well is shut-in, the sum of
$ ___________per acre to continue the lease for 1 year." Any help would be appreciated. Thanks, Ray form Hot Springs Village, Arkansas
I need a land valuation for my share of surface and minerals in Section 36-8N-10E. Any advice on how to get that done? My tax attorney has suggested getting a local realtor to provide a valuation, so I’m looking for advice and/or recommendations.