Our rights span the county line, Section 32 20N 9W in Kingfisher and Major Counties. (Northwest Kingfisher and southeast Major)
Does anyone else here have anything close? I don’t think much is going on in our area if anything.
there is a rig drilling near there now. across the road south from 34-20-9
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That’s good to know. I wish I could see it. I hope they keep going west.
Horizontal drilling in 33 and 34 and 28. 20N-9W
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I have section 20,16 n7w.any activity in these ares.
Please repost this in a new topic for Kingfisher with the legal in the topic line so folks don’t get confused. Easier to keep the threads separate.
i have some in section 20, range16, 7 west
You should be getting royalties from Pearl 1H-17X which has a surface location in 17 and extends into 20. Newfield (now Ovintiv) has quite a few wells planned. You should have gotten quite a few notices from the OCC. If not, then make sure your name and address are correctly filed (and linked to your section by proper title documents) at the county courthouse. Contact GRAYSON BARNES-the attorney for the filings as well Contact Phone: 918-382-8686
Looks like the hearings have been postponed until 2021 due to the COVID situation.
Good afternoon Ms. Barnes - do you have any information on what is happening with Section 2 Township 18N Range 8W? We have mineral interests there with the Shimanek 1-2H well with Chisholm (previously with GasStar) and Chisholm has filed chapter 11 bankruptcy. Any information would be greatly appreciated.
Thank you.
Mark
On most OK bankruptcies, the mineral owner does not have to do anything and royalties continue to be paid. I have wells with Chisholm and the recent check had “Chisholm Debtor in Possession” at the top, so continuing to get paid at the moment.
You can look over on the NARO category and find the Bankruptcies topic. Info there and read all the documents you receive, just in case they do demand that you file a claim. Also, some good comments on the BLOG category.
Thank you Ms. Barnes for the information - very much appreciated. Do you have any information on a reasonable purchase price for mineral interests in this part of Kingfisher County? We have been considering selling our interests but with the price of oil falling have no idea what might be a “fair” price per mineral acre.
I would not presume to offer what a fair price would be. What a willing and informed buyer under no compulsion to buy and a willing and informed seller under no compulsion to sell agree upon as the price is considered “fair”. (In this business, the buyer is usually much more informed.) Given that prices are depressed, there are some mineral buyers out there buying at depressed offers. They have very specific goals and metrics that they are trying to reach. You can go onto www.okcountyrecords.com and see if there are sales in your area.
One of the forum members posted: Search “Mineral deed” “MD” “Misc” etc. depending upon which county you search Deed stamps are calculated at $1.50 per $1000 of transaction. $21 deed stamp = 21 ÷ 1.5 = 14 x 1,000 = $14,000 transaction price look for sales that have deed stamps, then look at the deed to see if it discloses the net mineral acres. Often deeds will have a generic quarter section description, but may state somewhere in the deed the actual net mineral acreage conveyed.
Thank you. I appreciate your assistance.
Mark
who should be getting royalties?
Blaine, if you are talking about the Pearl well, then contact Ovintiv about the title chain and who should be getting royalties.
I too have some interests with Chisholm in Kingfisher, and after sifting through all of the paperwork and searching online, I’m assuming it isn’t necessary to fill out anything? I received a royalty check dated 8/10 recently for March and April with the “Chisholm Debtor in Possession” notation as you did. Just looking for a bit of reassurance that indeed It sounds like no paperwork/claim needs to be filed at this time? Thank you.
Mary- In Oklahoma there is no paperwork that has to be filed by mineral owners. You are good to go.
Thank you so much, Todd! My acreage isn’t a lot, but it’s been in our family for 4 generations, so I’d hate to neglect something I was supposed to fill out. More trouble than it’s worth for the most part, but you can’t put a price on sentiment…well, maybe if the price was high enough, ha-ha! Thanks again for your response.
I just received some in my account but they didn’t let me know what it’s for jnever got any paper work I don’t know it it’s royalties or something else
Blaine, You may get a 1099 from the operator since tax time is starting. You can contact the operator’s division order department and ask them what the check was for. Ask them to tell you what your net acreage and royalty amount is and how you can get statements. You need to keep them for seven years for IRS purposes. Always good to keep as many records as possible. Never know when you will need them.