If one does not negotiate an acceptable lease, especially a "clean" lease without deductions; and the operator successfully pools your mineral interest forcing you to accept one of the financial elements (bonus and royalty interest) provided in the pool; what kind of a lease document does the mineral interest owner receive. What is the documentation that describes how you live with the operator during the productive life of the well? Is there a "standard" lease that is placed in use?
You get nothing from the operator. The pooling order itself is the only document. They must abide by the rules of the OCC and the statutes of the state.
Can you direct me to "the rules", especially as it pertains to deductions. AND MERRY CHRISTMAS DOWN THERE IN TEXAS!
http://law.justia.com/codes/oklahoma/2014/title-52
Title 52 contains the OK oil and gas statutes.
On the FP side, good question. I have some that pay gross with no deductions and some that are taking deductions. Have that question into my attorney right now. No definitive answer yet.