Does anyone have information on what is happening around the Peery well in 9N7W? Is there any activity regarding capping that well?
Last document was a transfer of ownership to Avalanche Oil and Gas in June of 2016.
Thanks. My cousin had been checking and was told Stamps Oil in Tuttle had acquired it from Avalanche and was thinking of capping. I think some sort of offer was made by them to my cousin to “pre-lease.” Is this common?
Thanks. My cousin had been checking and was told Stamps Oil in Tuttle had acquired it from Avalanche and was thinking of capping. I think some sort of offer was made by them to my cousin to “pre-lease.” Is this common?
Ha. Not common, but I can understand why they offered it and it would not be unusual in this situation.
It looks like Stamps Brothers Oil and Gas picked up the well and leasehold for about 20K on March 1, 2017. The 1073 transfer of operator status has not been filed yet, but it should occur at some point before the 1003 plugging report if they intend to plug the well.
I imagine that Stamps intends to pull in an operator to drill a new well or are taking steps to encourage development of the section. I believe that one of the owners of Stamps is active on this site, so you may get a better back story than my simple speculation.
I would suggest that you wait and see what occurs. The market as a whole is not going to be interested in your minerals until that well is plugged. If I were you, I would either negotiate some very favorable lease terms or wait until the market is made aware of your open acreage after the plugging and has had time to respond.
Thanks so much for checking. I will pass on the information.
Paula, if you want to message me please do. I now own the well and have filed the Change of Ownership with the OCC. It may take a bit.