Hello,
Is anyone familiar with the Reach Oil & Gas Company notice of hearing for Irregular Stand-up 80 acres oil dewatering drilling and spacing units, and pooling happening soon? I own rights in 26-8N-5E in Seminole and am trying to figure out what happens next. From my research here, should I expect a possible bonus & 3/16 royalties proposal? I never received any offer to lease or sell in the first place so don’t understand why forced pooling is occurring. Maybe it is because there are many, many owners involved?
Any information would be greatly appreciated. TIA!
Reach is spacing in SW4 NW4 and NW4 SW4 on Cause 202100566. You were supposed to get a leasing offer before the pooling but it doesn’t always happen. If you want to see a similar pooling order, Reach pooled the SE4 in 2019 cause 201900568 order 693255. The choices two years ago were for a 1/8th option and a 3/16ths option. Many of us would take the higher royalty choice. https://imaging.occ.ok.gov/imaging/OAP.aspx
You only have 20 days in which to answer the pooling order, so stay on top of it or you will be assigned the lower royalty option.