Todd, This is the preferred division order form-see below. It has the correct language. If the one you received is on this form, then you are probably okay but compare the two. Make sure that it says somewhere on there “this Division Order does not change any terms of the lease”. You can strike through the line that says Social Security number and say “See attached W-9”. The #20 probably refers to a particular line in the title opinion regarding your acreage only and a question they have about the title. When you answer their question or requirement, then they will move forward on paying you.
If you have 160 mineral acres at 3/16 mineral interest and say they owe you for 7000 bbl how much is that in $$?, and how do you figure this? Thank you.
Todd, Assuming your 160 acres = 25% of a 640 unit (verified by your mineral deed). You would take 0.25 (your % of unit) multiply by 3/16th (0.1875), multiply by 7000 bbls, multiply by $100 price per barrel. 0.25 x 0.1875 x 7000 x 100 = $32,812.50.
Todd, That calculation is gross not net.
I see, thank you Mrs. McMorries.
Andy, 3 years / $250 & up / 1/4th at Logan and Payne line, but not from Devon.
What is the going rate these days on lease bonus per acre in northeastern Logan County?
Sir Ron Von, yes the + is supposed to be =. Thanks for correcting my typos.
Hi Martha, just a quick question, is the plus (+) sign at the last of the equation meant to be an equals (=)? In this world there are no dumb questions; if we do not realize that, we should take up needlepoint or something.
Also, the heat map, darn, I forgot what I wanted to ask about it. Oh, I have to think that the rumor about the State ordering a stop to fracking must have been just a rumor? Does the state even have authority, and the desire, to do this? Are not all these forms permitting the exploration, drilling, and production companies laden with a lot of revenue for the state no matter if there is even a producing well down the road? If there were no filing fees for all these permits, how many judges would it put out of jobs? What we need is more systems analysts in the oil industry.
Thanks Martha!
Oh wow! Oklahoma state tax for out-of-staters is 5% and not 7%? Wow that means, at my royalty rate of 9$s each and every month for 12 months, equals to $108.00 then I would owe Oklahoma … let’s see, I almost flunked algebra in HS, that is (n) I think, the great unknown, comes to so n = Five dollars and eighty cents? Is there any deducts and stuff, you know, the loophole stuff, I can use?
Does anybody know what this means on an Amended Permit? “New LE & significant change in PBHL”?
Kaye, New LE - new location exception and PBHL - proposed bottom hole location.
PBHL is Proposed Bottom Hole Location. Not sure about LE-maybe Last ?
which permit is it on?
Thanks M Barnes & Martha!
Ha ha, what kind of logic insists that President Obama is using dirty stalling tactics by announcing he is again delaying decision of Keystone Pipeline Approval and announcing it on Good Friday, and they claim it is because no one is paying attention on Good Friday, we are all at the beach or mountain retreats and will not even know it. (snicker) that does not even deserve a decent LOL, it is in the very same category as the “birthers” who do not understand that President Obama is a real, US citizen no matter where he was born, because his Mother was born and raised in Kansas. The Obama team just snickers whenever birther claims are made. I still say President Obama is the best friend we have in the oil industry, and my bet is that when decision time rolls around again, which will be after Mid-term elections, it will be delayed again. LOL
That is a very simple question with a very real simple answer, it is because too many people do NOT WANT oil and gas wells on our public lands, and especially our public parks. It would cause the biggest political uproar one could even imagine. They should even make it tougher, like impossible, to get a permit to drill on Public lands. I still say Obama is our best friend in this alliance.
WTF, Ron, have you made a few trips to Colorado? How in the world can you say Obama is good for the oil industry? His EPA gang is just waiting to cut the oil industry off at the knees. Why does it take years to get a lease approved on Federal Lands? Why does he block the Keystone Pipeline? Please…
Please take the politics to another comment forum and leave this one for technical information and leasing for Logan county.
Ok, anybody heard of this? The title examiner placed a title requirement no. 20 on my interest. They want Chisholm Trail Farm Credit (lien holder of this particular acreage) to send them a directive stating that we can receive all revenue, or have the bank sign the division order. Ummm, I don’t think I will do either, but any advice would be appreciated (maybe someone has bumped into this before). I think it may be time to call the oil and gas attorney.