Can anyone tell me if new well is active yet and if they are pulling production?
Well names are: Columbus 1-36-25xhw & Madison 1-31-30xhw both in Carter County, OK
Thank you,
Hi Kimberly1108, both wells are listed as completed and active on the OTC Tax production site, but no months of production listed yet. The wells appear to have been completed in April or May of this year.
I’m new to this so does that mean no production being pulled or just not showing yet? I believe I’ve read that sometimes it takes awhile to get first royalty payment. How do I look at the OTC tax site? Thank you for your response!
https://otcportal.tax.ok.gov/gpx/gp_displayPublicPUNListSearchDownload.php
It takes about four months before you will see production posted on the OK tax site. It will take about five months from first sales before you will get a Division Order from the operator. They have hundreds of titles to search down before they send the DOs out. You should receive your first check about six months after first sales. Be aware that the first check will be the largest since it has multiple months of production and the highest volumes from the well. Checks after that will be for a single month. On the DO, the minimum payment may be set at $100. I always mark that out and replace with $25 as that will be helpful down the years as production and checks get smaller and smaller. I like to have more regular checks instead of waiting for the $100 minimum to build up before they cut the check.
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