I was looking at an old lease that we get very little revenue from in Logan Cty. It is 6 15N 04W. We receive very little revenue from it. A school took the surface years ago but the well lists 160 acres but the OTC says abandoned. Some wells in this section are pulling very well. We really know little about this well.It is being held by production so is there anything we can do with it?
What is the name of the well? William Waswo 1-6H?
Peterson well. We don’t have a copy of the lease.Can I get one from Crawley Petroleum co.?
I see last production from the Peterson as May 2019. The lease would be expired, so you are no longer held by the well. Have you gotten any payments since about June 2019?
Yes, we get one every 4 months or so. We used to get one every year. If the well is abandoned why are we still receiving checks?
Crawley Petroleum is no longer in that section. Husky Ventures has the only 2 wells in that section.I have not heard anything from either company. I am going to call them.
Do you have William 1-6H on your stub? If so, then you are still held by production. What description is on your deed-anything other than the SW4? That well only has a 480 spacing, so a bit unusual.
No, Waswo 1-6H is handled by Husky Ventures and it looks like 2 wells. Our minerals are E2 L6/7 and have been leased since 1940. Crawley is emailing me a copy. They are no longer in that section. We were not contacted by Crawley or Husky. I guess we can release or nothing. This is a new one for me to check out.We had 156 acres at one time
Crawley plugged ours 1/2020.William 1-6H is horizontal and looks to have 3/4 of that section. They pulled in july 2019. The lease was from 1962 so we got very little. Is the area depleted or do we wait to lease again?
Given the oil prices right now, one might not get the best price for selling. That area was not too great at any time. So if you don’t have production, you can just wait to lease again someday or sell whenever you feel like the time is right. The lease expires if there are no wells with production.
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