A landman has contacted us and we have just learned that we have a small amount (2.5) of mineral acres in Section 35 7N 2W. He is offering to buy the mineral rights at a relatively low (I think) price per acre. I understand there is recent well drilled in this section. How do I understand the spacing that should pay royalties to this section and what production might be occurring there? Are back payments due? The landman indicates it was Force Pooled so the royalty is only 1/8. Any general guidance is appreciated. We live in Pa, not Oklahoma.
Unless it was previously held by production, I think there should have been a better option than 1/8. If it is HBP they may owe you years of production. I am not sure they could force pool somebody at 1/8 , but I may be wrong.
BP Drilled the Lynn 7N 2W 35 #1 HX from a location in 35-7N-2W-mulit section horizontal well with 0206N02W. The spacing was 640 acres in each section. BP has sold most of their acreage to another company which will hopefully pick up the drilling pace. The offering company wants your acreage for the royalty coming from the Lynn well and any future royalties for additional drilling. Five horizontals were drilled in section 33. Most offers to buy are lowball hoping for folks to bite.
Charter Oak Pooled 35 in 2016. Case 201604436. Orders were for $175 @ 1/8th, $150 3/16ths. Check the respondents list and see if you were on it or a relative. If they could not find you, they are holding the payment for you. Contact the attorney listed in the order. Insert the case number in the OCC website listed in blue. Since Charter Oak sold to BP, the pooling was extended several times, so see if you have additional payments for additional bonus amounts.
http://imaging.occeweb.com/imaging/OAP.aspx
The Lynn was completed in September of 2018, so should be in payment by now. Contact BP if they do not have your correct address and get into pay status.
Thanks for this information as it is obviously most helpful. I will follow up and see what I learn.