Could you help point me in the right area to find out if there is anything going on with our section. Our land is close to Hale Cemetery on St Highway 39 - same spacing order. We have not received a division order yet, have been leased for a year now. Thank you, Susan (Section 35) T7N R5W
Susan you could check out the Oklahoma Corp Commission database. I looked up your section & township, range and found a well by Continental called the Triple Rimer. Its 1st production date was in May 2014. I've read on this forum that the operator has 6 months from the 1st date of sale to send out division orders, if I'm to understand all this correctly. I am fairly new at this oil rights stuff. Congratulations on the new well!!
Slight correction - operator has 6 months after first sales to pay the royalty owner without incurring statutory interest obligations. 6% if there are title issues or 12% if there are no title problems. There is no statutory obligation to send out division orders but almost all oil companies will do so. It is an additional way to verify that they have the ownership set up correctly.
Thank you so much - I will check the site - appreciate your time to help