I was told yesterday a gentleman had around 40 acres and his back pay monies was paid out this week and he received around 200k from trinity. Does this seem to high or was something misunderstood possibly. I was told my the Division analyst checks were cut for this area on April 29 last week. But I have yet to receive mine. Any ideas. Over a week from Houston to Arkansas seems lengthy via us postal
Takes 10 days to get from one side of Houston to the other sometimes… patience will probably pay off.
M_Barnes does that pay back number sound high to you??
The equation would be net acres/spacing acres x royalty x % perforations in section. What township and range are they in? The first check may have about five-six months of production in it. Depends upon the price of oil and gas and the volume of products.
Included section 12 13 and 24 township 7 North Range 10 East. Hughes county. And it was back pay from 4/1/2018.
Five wells with back pay from 40 acres for a year could be significant. Most of that production is listed on the Gross production site, so you could calculate it. Gross Production
I wish I was smart enough to use that chart it would help alot. But I am clueless on alot of that it is asking for
What do you not understand? On the Production chart from the tax site? I can walk you through it.
Yea the one tht will tell you production or what ever.
If you are hunting for the Clara wells, you just need to use the Lease Name box. Type in Clara and check the box. It will open with a huge list of all the wells with “Clara” in the name. Lucky that the five you want are very close to the top of the list. Clara 1-13/24H, Clara 2-12-13-25H, Clara 3-12-13-24H, Clara 4-12-13H and Clara 5-12-13H. You can open each one individually by selecting the blue PUN number. It is live and will open the whole well for you. Production is one of the tabs. You can print it off. Is that what you needed?
I got it that way thank you… is the date of June 2021 on one line a projected stop time or is that when the lease is up.?
What well, page and line are you talking about? The lease will continue as long as there is production, so that could be decades. It has moved from the “primary” term into the “secondary” term of production.
Is the lease only good for a certain time frame. If so do you have to re up your lease and get the bonus all over again or is that a one time pay out
Read the first few paragraphs of your lease. Generally, they are for a primary term of three years, but can be more or less. That give the lessee the right to drill a well within that primary term. When you sign the lease, they will give you the first bonus payment. If they drill and have a productive well, then the lease moves into the secondary term and stays in effect until production ceases (or whatever the terms of the lease say). You do not get a second bonus because the lease is still in effect. If no successful drilling, then the lease will expire and you are free to lease again.