A family trust has land where they drilled and found oil/gas It's at 03-24N-04W. Plymouth Exploration LLC; Chain No. 1-3H Well; S1/2 S1/2 SW1/4 SW1/4 (SL) of 03-24N-04W; 156 barrels oil per day, 403,000 cu-ft gas per day. How can I find any production reports? I went to the OCC web site and couldn't find a thing. A couple of months in the past year there has been no production. One of the people who we talked to last year said that they broke a bit before they completed drilling and that they MIGHT drill again but my brother said that there was a probably not tone to his voice. What happens to the lease if they stop producing oil/gas? Thank you!
Oops meant to add, It is the Sebranek 1-3H Chain
Plymouth filed for an increased density well (order dated 2/05/14). They also filed an intent to drill the Chain 2-3H. The permit was approved 02/27/2014.
Nancy,
We have royalties on the same section.
Talked to Plymouth and the spud for Chain#2 is May or June.
Linda(Chain) Barbour
Linda Barbour said:
Nancy,
We have royalties on the same section.
Talked to Plymouth and the spud for Chain#2 is May or June.
Linda(Chain) Barbour
Nancy Williams said:
Linda Barbour said:Nancy,
We have royalties on the same section.
Talked to Plymouth and the spud for Chain#2 is May or June.
Linda(Chain) Barbour
Thank you for your reply Let me know if you hear anything. What is with all the taxes and marketing charges they make us pay?
That Chain#1 lease was written back in 2009 when we were all ignorant of lease terminology so we are getting taken to the cleaners on these fees.
After we got a little smarter our new leases had addendums written where we won't get charged for any post production fees like marketing expenses.
There is drilling activity in the SE corner as of last Saturday.
That you for letting me know. Let me know if you hear anything else. Thanks again!
Nancy Williams said:
That you for letting me know. Let me know if you hear anything else. Thanks again!
You said that the new lease has different royalties, misc charges. I wonder if our lease would be the same as yours. Do you know what that is off the top of your head? Thank you!
Nancy
No,our lease wouldn't be the same as yours.
It is up to each mineral owner to put in the lease terms that are agreeable to you.
Linda Barbour said:
No,our lease wouldn't be the same as yours.
It is up to each mineral owner to put in the lease terms that are agreeable to you.
Has there been any other activity. I feel so out of the loop. Thanks Nancy
Linda Barbour said:
No,our lease wouldn't be the same as yours.
It is up to each mineral owner to put in the lease terms that are agreeable to you.
Not on that section,they finished the well June 1.
Please let me know if you hear anything. Thank you! Nancy
Linda Barbour said:
Not on that section,they finished the well June 1. So do you know what they found. I hope I'm not being a pain in the butt. Thanks!
Sure,they will find oil and gas!
As to how much you will find out in about 6 months when you get the first check.
You wrote that After we got a little smarter our new leases had addendums written where we won't get charged for any post production fees like marketing expenses.
So is there a new lease was written at some point? My research shows that if they drill a producing well during the lease term then their lease rights are extended as long as the well is producing. Do they continue to pay the lease during the entire time the well is producing?
The lease rights are extended as long as the wells is producing or they are paying rent under shut -in clause of lease. They will pay royalty on any production from the well . I am not sure what you mean " continue to pay the lease " . If you are talking about the bonus they paid when you signed the lease that is a one time deal when you sign the lease.