Has anyone been leasing in 8N3W lately? We have some leases that will be open very soon.
The short answer is yes, over 1450 leases in the last 365 days by many different companies in many sections. I always let my leases expire before attempting new leases.
Regulatory applications were focused in Sec 6, 7, 17 & 18.
Hello, M Barnes. It is wonderful to hear from you again. I always love to have you answer because I can depend on what you say. Can’t see your reply but remember you used the term “regulatory” and I don’t understand the term. My sister and I recently got “Relief Sought” from someone in 17 and 18. We are not in a big hurry and are willing to wait to lease. What little we have learned has been from you directly or your advice to read what is going on around us. So hope you know how much you have helped. Thank you, thank you.
The Oklahoma Corporation Commission is the “regulatory” agency that governs certain aspects of oil and gas wells in Oklahoma.
Be aware that Pooling Orders, when issued, have a time limit in which you have to make an election or you will be deemed to have elected the default.
If you are in 17 or 18, then pay attention to those cases. They are the official paperwork that must be filed by the operators before they can drill a well. The timing on the expiration of your leases and the spud of a new well can be critical at this point. While you have the time, go back and read your lease and see what it says about a commencement of a well. Some leases are very generic about what work (such as moving dirt) and some have very detailed wording about having a rig on site capable of drilling to TD and drilling. Whether or not you are held or can lease again may hinge on that wording.
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Great point, usually 20 days or the owner is typically saddled with a 1/8th interest. Also, an owner could elect to participate in the Well, which would be a mistake for all but the most savvy (and cash flush) mineral owners.
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Fortunately we are ok on the commencement part. It is so kind to have each of you help. We will definitely look for pooling orders. So far we don’t have anything anywhere that says pooling orders.
If you have a lease, you will not get a pooling notice. Both 17 & 18 have a pooling notice. The numbers are 201810327 for 17 and 201810255 for 18. They hearing was supposed to have been December 31, 2018. Obviously, it has been delayed. You can keep an eye on the outcome at the OCC OAP site. OAP
Once the orders come out, they will have either a 180 day clock in which to spud or 365 days. (Folks that have not leased and are in the pooling will have 20 calendar days in which to make their election.) Based upon the window of time for spud, you can tell if your lease will expire in that time frame or not. If it does and they do not spud, then they will have to come back and lease you again or do a second pooling.
[quote=“M_Barnes, post:8, topic:41124”] If you have a lease, you will not get a pooling notice. [/quote]… in most cases. If you receive a pooling order shortly after executing a lease, your lessee has to make an election to participate or receive a royalty equal to or greater that the royalty in your lease.
If you were named in the pooling and your lessee does not elect, and if the default election is less royalty than what is provided in your lease, you have a problem.
If you are named in the pooling, then be sure and answer within the 20 day time frame.
Ms. Barnes: McClain County, Section 11, 6 North,2 West the BP Stark well. We committed to participate as my sister and I have a small interest in the 640 rather than sell our mineral interest or farmout or lease. We have contacted the BP landperson several times and she has confirmed we are working interest partners however we have not received an invoice and she was going to ask operations to send us completion and drilling reports and we have received nothing as yet. Supposedly the well has been drilled. The landperson’s name is Kelsey Swinford. I think BP has outdrilled their back office.in their haste to move to Texas and close their Oklahoma City officce? Would appreciate any information you have on the well success? etal. thank you very much David Hawk…OU 70
The Stark well finished in November and came online 11/20/18. You probably won’t hear much of anything until March or so.
Thank you. do you have any completion numbers?
I was also wondering if BP might begin drilling more laterals in section 11? Say four more wells at least?
Martha our paths must have crossed numerous times. I was chair of the HOD a few years ago and am a DPS committee chair and aapg honorary member…am currently writing the citation for Larry Jones who will receive Honorary Member this year in San antonio. I have ahd the good fortune to live around the country but mostly in boise and still ahve my foot in the energy business actually all phases. You have been very active and your thoughts for the folks on this website are invaluable.
Too early for completion numbers. They usually don’t post until 4-5 months after first sales.
If they do, they will file an increased density. I think it might be too soon to tell. BP has a ton of acreage that they bought from Charter Oak and they need to drill each section with one well first to save them by production. More wells would be round 2.
Hello! Yes we have. Larry is a great guy! Honorary Membership definitely deserved.
Section 17 just had a well drilled, EOG well named Spitfire, SE corner of 17, they are placing tanks and running pipe now, no production yet.
Thank you… I hadn’t heard. i will let my sister know.