In regard to S1 T1S R6W / Stephens County, the Oklahoma Corporation Commission has issued the following Order on Case # CD2022-005078: “Final Order.” There is no further explanation in the Order. Not sure if that is good news or bad news. Can anyone offer an explanation? Thank you.
The order is good news. It is one of the early steps in meeting all the requirements before drilling a well. Read the application that goes with the order. There are more cases regarding the permission to drill the well, location, pooling, etc. 2022-0005080, 5081and 2023-000495.
Thank you again. This business is out of my area of expertise so your help is very much appreciated.
If you get the pooling order, then pay attention! You only have 20 days in which to answer with your choice of royalty/bonus pair. Most savvy mineral owners will take the highest royalty as that usually far outweighs the bonus amounts if the well is successful.
1 Like
We will definitely pay attention if/when a pooling order arrives and I appreciate your insight into how to proceed from there. Our property is presently leased to Continental but the lease will expire in September. Would it be advisable for us to consider renewing the lease if no pooling order arrives before then, or would be wise to wait until pooling?
If you are currently leased, then you will not get a pooling order before your lease expires. If the well spuds before your lease expires, you will be held by the terms of the lease. Wait and see what happens in the next few months. I would not renew the lease if they ask early. See what the market conditions are at the expiration time.
You may find this booklet helpful. 0_Royalty-Owners-Booklet-112020.pdf (6.8 MB)
This topic was automatically closed after 90 days. New replies are no longer allowed.