-
Comment by Sandra Byrd 7 minutes ago
-
Delete Comment
very very new to this. just found out i have inherited the gas, oil, and mineral rights for 640 acres (section 17, Township 2, range 7 West in stephens county oklahoma) that has been force pooled. what does this all mean for me? and how can i see what is going on over there? im in california.
is that 2n or 2s
2 north
Sandra Byrd said:
2 north
What this means is that under the pooling order, you will need to make a selection regarding how much bonus per acre and how much royalty interst you would like moving forward. The choice is between more cash now and less royalty later if it is a good well or less cash now and more royalty later.
You need to make your election within the time period alloted or you are left with the default proc=vision of the pooling order which is the more cash now and less cash later option.
If the gas company failed to do due digligence in locating you then you may have futher options.
Contact me offline if you wuld rather discuss your further options in private.