Leased my 5 acre minerals in section 15 township 3 north, range 5 west on Jan., 2013. However the lease stated containing 80 acres, more or less and receiving no more than 1/8th.In October received Interim Order Of The Commission for "Approving a multiunit horizontal well in the 640 acre drilling and spacing unit s formed for the Shale Reservoir described hereinafter in Section 15-3N-5W and Section 10-3N-5W, Grady County, Oklahoma, so as to allow such multiunit horizontal well to be drilled as described below: etc. What does this mean, are these close together, and have they started drilling the well yet? Thank you for keeping those of us in the dark, in the light! Virginia Akins
Virginia, these land descriptions can be misleading. Your 5 acres was once a part of an 80 acre tract that over the years has been divided into smaller pieces and it continues to be recorded that way but your deed on file with the county clerk will have the correct acreage. When you were offered the lease you were most likely given a couple of options that offer a lower % royalty and higher bonus or higher percentage and less bonus. Apparently you chose the 1/8 option. A multi-unit well is one In which 2 sections are drilled as one well and the royalty owners share in the proceeds according to the amount of footage drilled in each section, it could be 50/50, 60/40 and so on. I can find you more information but the OK Corporation Commission web site closes down for several hours every Friday night. I'll try to look into this later tonight or tomorrow.
Virginia, the well is Continental Resource's Goff 1-15-10XH. They started drilling on 9-20-13 and it should be finished by now but a completion report has not yet been posted. The proposed allocation of production is 47% to sec 15 and 53% to sec 10.