Kurt,
Have you heard anything from XTO on the June well?
Margo Murphey,
We got word back the stipulations were filed. We were also informed we might see a check sometime after the 20th of this month or next. However I don’t understand that statement as we haven’t seen a division order. I have asked for clarification but have not received a reply yet.
Geez…I hope we get it before March…but thanks very much for letting me know, Kurt. Hearing nothing is frustrating.
Ok Margo Murphey, finially got a call back from XTO on division orders. Sounds like they are shooting for March or sooner for both the June and Tommy wells in Love county. The wait continues…
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We’re still waiting on XTO to send us a DO on the June well 27-06S-01E…it’s now been almost 9 months since completion and first sales…is that an unusual amount of time?
This is lengthy, but I think it covers your situation, Margo. I received 12% from another company a few yrs ago and it amounted to a nice sum.
1 Title 52 O.S.Supp. 1985 § 540 provides:
"A. The proceeds derived from the sale of oil or gas production from any oil or gas well shall be paid to persons legally entitled thereto, commencing no later than six (6) months after the date of first sale, and thereafter no later than sixty (60) days after the end of the calendar month within which subsequent production is sold. Such payment is to be made to persons entitled thereto by the first purchasers of such production. Provided, such purchasers may remit to the persons entitled to such proceeds from production semiannually for the aggregate of six (6) months’ accumulation of monthly proceeds of amounts less than Fifteen Dollars ($15.00). Further provided, that any delay in determining the persons legally entitled to an interest in such proceeds from production caused by unmarketable title to such interest shall not affect payments to persons whose title is marketable. Provided, however, that in those instances where such proceeds cannot be paid because the title thereto is not marketable, the purchasers of such production shall cause all proceeds due such interest to earn interest at the rate of six percent (6%) per annum, until such time as the title to such interest has been perfected. Marketability of title shall be determined in accordance with the then current title examination standards of the Oklahoma Bar Association. The first purchaser shall be exempt from the provisions of this subsection and the owner of the right to drill and to produce under an oil and gas lease or force pooling order shall be substituted for the first purchaser therein where the owner and purchaser have entered into arrangements where the proceeds are paid by the purchaser to the owner who assumes the responsibility of paying the proceeds to persons legally entitled thereto.
B. Any said first purchasers or owner of the right to drill and produce substituted for the first purchaser as provided herein that violates this act shall be liable to the persons legally entitled to the proceeds from production for the unpaid amount of such proceeds with interest thereon at the rate of twelve percent (12%) per annum, calculated from date of first sale.
Thanks, Ann. Do you think we’ll need to request the 12% interest be paid or will XTO do it automatically?
I don’t know, Margo. In my situation with another company I had to request it. As soon as I requested it the D.O. employee referred me to their legal dept. The legal dept. didn’t argue, just paid it.
We got ours, Kurt…but there seems to be a problem with the NMA on the DO, so we have to get a title search done.
Thanks, Pat.
Did everyone else get their Division Order for the June 01-27h well?
I need a landman in Love County to do a search on our inherited minerals and give us net mineral acreage information. Can anyone help?
this guy did a good job for me in Caddo; guess you could ck to see if he will work in Love Co: [email protected]
Nancy Kerr can check your minerals for you in Love county. Her number is 580-795-6748.
Can someone please recommend a reliable landman I can hire to do a little title work in Love?
Mr. Gault give Nancy Kerr a call, she is in Madill and can probably do it the quickest unless she is working on another project. 580-795-6748. If she can’t help you send me a message. I probably can. Thanks
Does anyone have any information on a proposed Hoffman 1-27 test well that Needham Energy Advisors is proposing to drill? Has anyone been contacted by them?
Section 27-6S-3W
No what Section, township and range?