There are a lot of leases for 1/5 in 15n-3w some 1/4 . Some people still leasing for 1/8.
http://imaging.occeweb.com/imaging/OGWellRecords.aspx
I go here first to look for wells.
http://imaging.occeweb.com/imaging/OAP.aspx pooling orders
the trick is finding out the case numbers which I use a paid subscription to find.
Does anyone have a good formula for figuring total interest percentage for 3/16 on 640 A. I have never seen so many people on 1 division order before that I’m having problems figuring it out. I used to have a great software on my old computer and somehow I didn’t get it transferred to my new one. Now it’s gone. I sure feel sorry for oil companies today if this is norm. On one 160 A of this section, they must of divided it down to 2.3 A each.
Virginia, Search for the spreadsheet Martha Barnes posted a few weeks ago. It will do that and much more.
Hey Martha, does returning the signed Div order with your Tax ID/Soc Security number constitute a w-9 for everyone concerned? Does the IRS accept it as such?
Martha, “everyone” would not include any accountant, the only thing they concern themselves with is the dollars and cents on the w-2s, the filing of a w-9 is not their turf and most accountants only know enough about the w-9 for their own interests.
Of course, division down to 2.3 acres each today is more of the norm than the exceptions, we must remember that allah this stuff is engulfed in a foggy area of accounting and disclosure, or lack of it, and it is pretty obvious that most people will simply not even q1uestion what is going on. Even though ther is so much graft, corruption, theft and outright prevaracation of all of the facts, it seems as obvious today as it did 70 years ago that it is easier to get buy with lots of big lies than it is a simple thin lined misdemeaner. These are the people we even elect to write our laws making it more and more complicated allah the time, and the same bunch who put those little blue lights atop of our city intersections, making it impossible for pqople to be driving down the street and making a simple little mistake that results in a 200$ - 500$ fine in the mail a few days later. We are indeed electing the scum of society to run our daily lives and then wonder why. The oil business at the top is no different, but what the hey, can we really blame them when we just roll over and let them get by with it?
Best thing is to ask your accountant. Not sure who you mean by “everyone”
M Barnes,
Thank you for your reply and help. I understand how most division orders are wrote,but this is the first time I have seen anything like this. I am the only one with 157.67 A because of lots( correction line). Then the other farm has 154.?? and 2 other are a full 160 each. The one 160 must have been divided into 2.3 A and the others are also all divide up. When I take the norm way I have always figured it, I come out with less decimal for me. When I add all the decimal (2.3 A) together, it totals more than they should have. I used to have a software program that you could put in the # of A, percentage, etc and it would give the decimal point. If anyone knows where I can buy this software again, please let me know. Guess I will have to call the company and have them tell me how they figured it.
I have never seen a division order that was 3 pages of R I before they even got to the 3 WI.
Good idea to call them when it gets that complicated. Then you are on the same page. Land men are usually in a hurry to get things leased. They are working from a “drilling” title opinion. When you get a successful well, then there is a much more rigorous “division order” title opinion for payout. It can still have some errors, so always good to know exactly what you own and check it out to the 8th decimal place.
Remember that for your particular interest on a 640 spacing you have to use YOUR net mineral acreage not a simple dividing 640 by the number of mineral holders. You have to go back to your mineral deed that says how much you own. You may have a very small percentage or a very large one.
Also, it is better to use the NADOA form, not the one the company sends you with all the extra verbiage on it. You just want to confirm your name, address and interest and give them a W-9. Do not put your EIN or SSN on the Division Order.
I called the company and we went over the acreage/% and it was off a little, so I can still figure my decimal percentage. I think the very nice lady was surprised that I even knew the Acres I owned as they have very few calls on that. So mineral owners need to know what they own. Seems the land man may have made a mistake, they are still human, thank heavens.
Martha Barnes, do you know how far north into Noble Co Devon is going to drill? Chesapeake is holding Noble County leases to the north of my Payne minerals.
M. McMorries,
Thank ypu. This is what I remembered, got the title right, but was sure off on the section. I have also heard they are considering a stand up 640 A spacing, but I haven’t seen one yet.
When do you think we will just go to statewide pooling, after all, I think it is Norway, just last week, has made every citizen of Norway a millionaire off of their newly discovered oil production revenues. Do I not also recall back before Sarah Palin that everyone a citizen of Alaska shares in crude and other mineral income? Hey, I might even be willing to move back to Oklahoma for a piece of that pie. Uh, maybe. Maybe not after this winter. LOL How cold did it get in Guthrie last week, and is real estate affordable? I can move anywhere at any time. I always liked Ponca City.
Linda,
First you need to go to the Co. Clerk office and check the records and get a copy of the lease that is on file. Then look at these records to find how many acres he has. If you don’t know how to look this up, you may have to hired a land man or researcher. This doesn’t cost much as it can usually be done in less than a hour. If a well is producing, it will hold a lease till they don’t produce anymore. They have the right to drill new wells, close old ones, etc. Since he is getting a check, their is production. On the check stub, it will tell your decimal % that is your share.
Look on your check and see if all of the Decimal Interests are the same. If so, then it is one lease. If different, then we are hunting for different ones. Also look and see if they are listing each well. Also look and see if they list a Unit Name. While you do that, I will do a little looking as well.
Martha McMorries,
I’m not M B, but Devon is drilling several near the Noble/Garfield Co line and at least 10 miles north of the Logan line, may even be more. Red fork & Sand Ridge are drilling N. & NE of Perry. I think Chesapeake is east of I-35 and some over by Morrision.
Thanks Virginia, your info helps me a lot
FYI: Here’s email that OCC Attorney Jim Hamilton just sent me in response to my question concerning 1280 A spacing.
Linda, if you will give us the rest of the address it will help. Need section township and range since there are quite a few Section 6s in Logan.