Pipeline map: http://www.capp.ca/getdoc.aspx?DocID=227299
I have also heard through not too reliable sources that Chinese Interests are building huge storage facilities in the area??? And maybe some have already been built? I do not know this to be a fact. But it is something that makes sense to me.
Liz,
Lots of the oil is being purchases by Conoco or Phillips 66 and gas may go into Mustang lines. Plus several other companies are in the area.
Liz, Don’t worry, you can learn almost everything concerning your minerals on the internet and/or this forum. However, there’s a few things you need to know right away. (1) Never sell your minerals. (2) Completely understand every clause in your oil and gas lease before you sign it. (3) Know who you can and can not trust. (4) You have a legal right to participate with your mineral interest but it can be very expensive and complicated.
As a footnote, it is good to look for advice and answers to our Mineral quest, but counter-productive, I think, to admit in public that you are a “newbie and know nothing about minerals…” I know it all. I know everything I need to know and indeed have a pretty lengthy manuscript nearly finished about Mineral Rights and the plights and problems of Mineral owners. It will be published shortly. The operators and oil companies do not want any of us to know anything about minerals. They want us totally ignorant to everything. They do not want us to know anything about fracking. They do not want us to know where the crude goes to after it is drawn out of the earth and what happens to mother earth after they rob the Earth of the crude. They do not want us to know who purchase the oil and how it is bought and sold, and they make every little detail of these matters intentionally confusing and mis-leading so that even thos who do know a little are comfounded by what they know. This is the REALITY of the situation, swo everyone needs to know everything they can learn about what is going on. Only then will we have the right stuff to deal with the oil magnates, who have down through history gone to the extremes of bombing their own competitors out of business right here in the USA. And it still goes on.
Well I guess from your last comment I have blown it.
Devon & GE are collaborating to develop new artificial lifts that will be used on oil wells to increase pressure within the reservoir and drive oil to the surface when the reservoir’s natural pressure is not strong enough to push the oil to the surface.
http://fuelfix.com/blog/2014/05/12/ge-devon-sign-collaboration-deal…
Sir Ron Von, An Oklahoma man sold over 10 thousand acres of highly valuable mineral acres about 5 year ago for 5 million. To date, the money made from just the leasing and production of the same minerals has been about 10 million and there are many more wells to be drilled. Think of what could have been made if he had participated with his mineral acres. Yes, it is to late for some. It took over 50 years to purchase the minerals and less than 50 minutes to give them away. What a shame.
Liz the pooling hearing on 29-17n-4w was moved to 6/19/14.
Ron, any notice about pooling on 30-17n-4w? Payne exploration.
Harley the pooling was recommened on 2/21/14, however no order filed yet .
Jeopardy knows what’s happening and so should we. The Anadarko basin is not as big as the Bakken, but it’s less expensive to drill, so our area will greatly profit when the oil export ban is lifted.
http://www.exxonmobilperspectives.com/2014/05/12/this-is-shale-energy/
Actually, admitting to knowing nothing and being a “newbie” is a bad thing to do not only in Mineral ownership, but in everything. A lot of people see this and a lot of people will take advantage of it and it could cost hundreds or thousands of dollars. But a lot of people do this very dangerous thing, sometimes to the point of being too late to correct it.
Liz how right you are. If I’da had my druthers, I’da ruther have bought tons of Microsoft stock back when I coulda. LOL But on the other subject, my grandfather Wilson, a truly incredible devoted husband and family man, was also a realist, and several times I recall him telling my father not to tell your “enemy” what you are doing, keep them in the dark until a deputy sheriff hands them a summons letting them know they have been sued.
I lived and was educated in North Dakota. If I thought this would happen I would have bought alot of land there in the early 70s. Forget education, lets buy land. LOL
equal to seven percent (7%) of the gross value of the production of
oil based on a per barrel measurement of forty-two (42) U.S. gallons
of two hundred thirty-one (231) cubic inches per gallon, computed at
a temperature of sixty (60) degrees Fahrenheit.
I don’t know if I even want to know. LOL
Logan: Crown Energy Co.; Schrammel No. 1-6H Well; SE1/4 SW1/4 SE1/4 NW1/4 (SL) of 06-19N-02W; 146 barrels oil per day, 62,000 cu-ft gas per day; TD 9, 194.
Stephens Production Co.; Jane No. 3-16H Well; SE1/4 SW1/4 SE1/4 SE1/4 (SL) of 16-16N-04W; 95 barrels oil per day, 143,000 cu-ft gas per day; TD 12,172.
LOL Thanx, Martha, I have only very briefly scanned this, noting keywords-phrases like, “exemptions allowed,” and tax of 7%, based on 53 galloons per barrel at 60 degrees farenheit… and it gets better. I don’t know, I just don’t know.
Sir Ron Von, Notice the tax rate has been changed from 1% to 2% for the first 3 yrs of production and has been changed from “horizontal wells” to include “all wells”. Also, notice that the dates for “secondary recovery projects approved or having an initial project beginning date on or after July 1, 2000, has been changed from before July 1, 2014 to July 1, 2020” and states…“any incremental production attributable to the working interest owners which results from such secondary recovery projects shall be exempt from the gross production tax levied pursuant to this section for a period not to exceed five (5) years from the initial project beginning date or for a period ending upon the termination of the secondary recovery process, whichever occurs first.”
Basically, These new ‘adjustments’ could serve as an incentive to hold entire sections with one or two vertical wells and the working interest owners will not be subject to the increase in tax rates for 5 yrs. So, a working interest owner will not have to pay the 1% increase and gets a 2 yr extension on the 7% increase, but may have to wait 3 years before realizing any significant payback.
Oklahoma Corporation Commission well spacing rules and regulations can be subject to change as in location exceptions, secondary recovery, etc. which are set forth in Title 165: Corporation Commission Chapter 10: Oil and Gas Conservation Part 5. Spacing 165:10-1-20 thru 165:10-1-37
http://www.occeweb.com/Rules/Web%20Ready%20Ch10%20FY14%2007-01-13%2…