Hi - my husband just received a letter regarding his mineral rights to 21-8N-4W (Charter Oak Production). We are completely ignorant of this entire process. I have been doing a lot of research trying to understand the issues but could use some help. We agreed to $400 per acre for 3 years and 3/16 royalty. Where do I go to find out about this parcel of land, how long does it take for a test well (this one is 10,900 feet) to be drilled and when can we find info on the well like the API#, how will we know if it's a producing well, calculating royalties, etc. Thanks for you help and suggestions.
A Yankee in Indiana
Don't be in a rush. I was offered $1600 at 3/16th in Section 28, near you. Read all the recent posts
http://occpermit.com/WellBrowse/Home.aspx
That well has not been permitted yet, but when it is, you can find it here. Type in the 21 08N 04W with the leading zero and it will give you the permit document when you hit the magnifying glass. There is an old well in the section, so you could practice on it. Hester 1-21. Hit the magnifying glass and then All Images.
That puts you onto the Oklahoma Corporation website. Form 1000 is the permit (not available on the Hester) and Form 1002A will be the completion report when it is done. Won't be for months and months since the new well has no permit yet. These things take time. In the meantime, you need to track down everything you can about the mineral rights. How you inherited them, etc. Mineral deed, probate, etc. The royalties will be calculated on the net mineral acres that you have (what you just got paid your bonus on) Go up to the top of this page and click on MINERAL HELP and read all the different pieces and you will get a good start. Read the blogs. Read the last few months of comments on McClain County. Welcome to the fun!
Thanks so much! I have been reading the McClain County comments and will continue to read the blogs. Its great to have this information since we really have a big learning curve!
I went to the site you referenced to plug in wells that I have interest in Marshall county, and when I hit the magnifying glass, it just makes the print bigger! Do you by chance know what I am doing wrong? Also, what does the status code signify?
Thanks you for the help--
Jill Evarts
M Barnes said:
http://occpermit.com/WellBrowse/Home.aspx
That well has not been permitted yet, but when it is, you can find it here. Type in the 21 08N 04W with the leading zero and it will give you the permit document when you hit the magnifying glass. There is an old well in the section, so you could practice on it. Hester 1-21. Hit the magnifying glass and then All Images.
That puts you onto the Oklahoma Corporation website. Form 1000 is the permit (not available on the Hester) and Form 1002A will be the completion report when it is done. Won't be for months and months since the new well has no permit yet. These things take time. In the meantime, you need to track down everything you can about the mineral rights. How you inherited them, etc. Mineral deed, probate, etc. The royalties will be calculated on the net mineral acres that you have (what you just got paid your bonus on) Go up to the top of this page and click on MINERAL HELP and read all the different pieces and you will get a good start. Read the blogs. Read the last few months of comments on McClain County. Welcome to the fun!
The status code tells you whether it is Shut In (SI), Plugged and Abandoned (PA), Active (AC), etc.
That is strange with the magnifying glass. It is supposed to give you a screen that says Basic Well Information, then you can hit All Images. Try this one instead because it is the other way to get to them.
http://imaging.occeweb.com/imaging/OGWellRecords.aspx
Thank you. Will give it a try.
hold the ctrl or the shift (depends on software) key down when clicking the magnifying glass to bypass blockers.