Tom,
Dumb question. You did verify what is on the DO and signed it and sent a copy back to them? How long has the Ross well been producing?
Tom,
Here is the reason. The well went into production on Feb. 17, 2012.
Need to wait 6 mos. If they are late, past 6 mos, then they owe you statutory interest of 12% on all production from the date of 1st production.
Daniel, since it was February of 2012 it has been about 17 months since first production. So they will be paying some nice interest, when they decide to start paying. I still can’t figure out just what is the problem. I do know they are drilling faster than they can do the paperwork.
Tom,
You are in for a big tax bite, so hold some of the money back. It is hard to calculate how much you will be receiving, but it should easily be in the 5 figure range. When you get your first check XTO will send you a complete copy of every month of production and the amount you would have received. The interest check will be separate. Did the DO list the correct amount of your mineral interest and your correct SSN?
Tom,
The same thing happened to us. We had one well we were receiving royalties on, but not the other. XTO was behind 19 month on ours.
I have 6 net acres in the Ross well. And a 3/16 Royality. I do hope they will start drilling the other 3 Ross wells soon. I could sure use the income. It’s my bedtime. Goodnight Daniel. Tom
Johnston: BNK Petroleum (US) Inc.; Barnes No. 6-2H Well; SE1/4 SW1/4 NW1/4 NW1/4 (BHL) of 06-04S-04E; 222 barrels oil per day, 470,000 cu-ft gas per day; TD 14,539.
Greetings Ron, glad to see you here.
Daniel, I see on the OCC well info that the Ross wells 2 and 3 and all 4 of the Mercer wells are in production now. The Mercer wells are classified as oil wells. One of them showed around 300 bopd in the completion report. Tom
Tom,
Looks like you can circle 6 months out on your calendar now.
I was wondering if any one new if there is any activity in 27 & 28 4S 4E Thanks
Sally Klang, not seeing any recent activity in either Sec. 27 or 28.
Johnston: XTO Energy Inc.; Chandler No. 2-8H Well; SW1/4 SW1/4 SE1/4 SW1/4 (SL) of 08-04S-04E; 897 barrels oil per day, 3,196,000 cu-ft gas per day; TD 16,054. XTO Energy Inc.; Chandler No. 3-8H Well; SW1/4 SW1/4 SE1/4 SW1/4 (SL) of 08-04S-04E; 984 barrels oil per day, 3,119,000 cu-ft gas per day; TD 16,030. XTO Energy Inc.; Chandler No. 4-8H Well; SW1/4 SW1/4 SE1/4 SW1/4 (SL) of 08-04S-04E; 772 barrels oil per day, 1,934,000 cu-ft gas per day; TD 16,125. XTO Energy Inc.; Chandler No. 5-8H Well; SW1/4 SW1/4 SE1/4 SW1/4 (SL) of 08-04S-04E; 635 barrels oil per day, 1,155,000 cu-ft gas per day; TD 15,825.
Ron,
I saw that in the paper today and thought someone over there should be mighty happy.
Thats great for the owners in Section 8; any activity in Sections 27 & 28? Out of curiousity, how far is Section 8 from Sections 27 & 28. Im have problems finding a map of Johnston County showing Section, Township, Range. Thanks
Here is a map of Johnston Co. Move the mouse to the lower right and there is a button to make the map larger.
http://www.okladot.state.ok.us/hqdiv/p-r-div/maps/2003county/johnston.pdf
Here are the well layouts for the Chandler wells, right dead center.
http://imaging.occeweb.com/AP/CaseFiles/OCC4344332.PDF
Thanks
Hi Daniel, it has been a while since I talked to you. I just started getting my royalty from the Mercer wells, the Thompson and Chapman Ranch have just started to trickle back in. I did have something new though. I own some mineral interest in Garvin county. It is with Merit Energy. I just got a letter from a company wanting to buy the Garvin interest. Since the Garvin wells are in the oil part of the Woodford, and companies are starting to move from gas rich to oil rich properties, it makes me think something may be in the works in that area. Hope you had a nice Christmas. Tom
Tom,
That's good news. The more the merrier. I am still waiting for something to happen with our mineral interest. I was last back there in Oct 2013, there was an empty pad there, but nothing has happened since then. I think when XTO purchased the leases for the woodford from BNK, XTO acquired quite a few leases they had to start drilling quickly or losse them. They are drilling multiple wells, up to 9 on some sections, all around our 2 mineral interest sections. Have a happy new year.
Daniel, Well maybe they will end up drilling 8 wells on yours. I would sure like some big drilling in Garvin county. Where my Thompson well only has one well, does XTO ever go back and drill more wells where they had drilled just one? I sure would like more there. Tom