Payne County, Oklahoma

Oklahoma Mineral Rights Payne County, OK
1

We have been offered a lease in Sec 6-T20N-R4E near of Glencoe, OK. Does anyone know what bonus money is being offered in Payne County?

2

Lance Ruffel Oil & Gas a pooling ending for the E2 SW4 of 6-20N-4E. The hearing date is 8/30/22.

Lease amounts are not public unless someone shares the information. If you have not leased before, it would be wise to get an oil and gas attorney to read any draft leases as they are not usually in the mineral owners’ favor. You can also wait for pooling since it is in a short time frame. Many of us prefer the pooling and take the highest royalty. The bonus is not as important in the big scheme of things as the higher royalty usually far out pays if the well i successful. Be sure and answer any pooling within 20 days. You should have already received the paperwork from the OCC with the application if you are in the E2 SW4.

3

The pooling application is here and the pooling notice but I’m not clear on returning the application in 20 days? It doesn’t need our signatures and nothing was attached. In the past we just put them in the file. The lease is a different matter. Can you advise returning the pooling application in twenty days to whom? Keep me straight. Thank you

4

You do not have to answer until you get the pooling order. It will give you a variety of choices and an address where to send your decision. Be sure and send by certified mail return receipt.

5

BEST PRACTICES FOR MAKING AN OKLAHOMA CORPORATION COMMISSION POOLING ORDER ELECTION

  • Mail your election within 20 days from the entry of the order. Keep in mind that this is not 20 days from the date your receive it. You should specify the paragraph of the election you are choosing. It is also good to recite the consideration. IE 3/16 plus $500 per acre consideration.

  • The Order will state to whom the election is to be sent. Usually it is the attorney who represented the company.

  • In addition to mailing, it is a good idea to file your election in the case with the OCC.

If there is production, it is a good idea to file an affidavit in the county where the minerals are located specifying the royalty interest selected.

This post is not legal, investment or tax advice, it is for discussion purposes only. Reading or responding to this post does not create an attorney-client relationship.

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6

Thank you, we did some reading and we will go this route.

7

I filed an affidavit of heirship on legal descriptions some counties 10-12 years ago but I will certainly file our pooling selection on this. (Easy by mail and return copy.) Can you tell me how to file at OCC?

8

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