I got a $42 royalty check after they held out taxes. With no knowledge of how much my Wells are producing im confused. It appears I’m getting the minimum every other yr.
Did you get a statement with your check or is it auto-deposited? If you have a statement, the sales on production are listed. If auto-deposited, contact your operator and ask how to get a statement. Many are available on several services for free. You just need to know where your operator posts it. You can also look up the wells on the OK tax site using the names of the wells or the location. https://otcportal.tax.ok.gov/gpx/gp_displayPublicPUNListSearchDownload.php
You can change your division order to be at $25 minimum instead of the most likely larger amount that it was originally set.
All these court orders are all so overwhelming. I feel under Trump administration I should have gotten more
If you post your section township and range and the well name, we can help you with the history of the well. Or you can look it up on https://imaging.occ.ok.gov/imaging/OGWellRecords.aspx
Your royalties are based upon your net acres, the spacing of the well, the royalty agreed upon in your lease or force pooling order, the volume of products and the price of the products at the date of sale according to the contracts the company has.
I visited https://imaging.occ.ok.gov/imaging/OGWellRecords.aspx to find the history of the well on Section 14, Township 4 South, Range 2 East, Carter County OK However, there were so many forms from which to choose that I couldn’t figure out what to do next. I inherited this from my mother a few years ago and receive a very small check a couple of times a year. Now I’m receiving offers to purchase and was wondering what was going on.
It is a bit easier if you know what the forms are: Form 1000 permit, 1001A spud, 1002A completion, 1073 change of operator.
Do you perhaps mean 14-4S-2W or 2E? Vastly different number of wells in those two sections.
Any time you get multiple offers to purchase, a whole lot of somebodies know something and they plan to make a profit. Offers generally tend to be before the drill bit (or where they think it is heading.)
If you are in 4S-2W, then Continental Resources has been doing quite a bit of leasing in the area and there is talk of horizontal drilling underneath the current shallow wells. Time will tell. Kodiak has permits for quite a few vertical wells in section 27 (Hewitt Unit)
If you are in 4S-2E, the XTO is the main player. They had horizontal wells in sections 1 & 2 and nearby sections.
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