What is the target formation(s)?
My grandfather was Robert Carroll Gentry. His father homesteaded the NW quarter of Section 12. Some of my other family was also in Section 12. Welcome to the forum, debeleng.
Joseph, My grandmother was Ola Mittie Gentry, she was your grandfather’s sister. Her father was Robert Davenport Gentry, his first wife was my grandmother’s mother, Mary Margaret Lester. They had 5 children together, one was my grandmother. Mary Margaret died in 1884 and Robert remarried your great grandmother, Florence Allie Gentry. They had 10 children together, the first was your grandfather Robert Carroll. I believe they moved to Stephen’s County in about 1905. Another brother Archie Hiram Gentry was born there in 1905. I have doing some searching on Ancestry and have found so many interesting facts.
A bunch of us here in Arizona received the same letter and trying to figure out the best approach to take. If we are looking for royalties from the past drillings, what do we need to do?
Sharon Conoley
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My siblings and I are in Florida. We had to file for probate in Stephen County,Oklahoma after our mother passed away. I can recommend Rachel Talasaz – Attorney
Talasaz Law PLLC
6226 E 101st St, Suite 300
Tulsa, OK 74137
918-928-5030
Licensed in OK, TX
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Thank you, Scout, are you getting legal papers from Continental about a new well in Section 12?
So…. We just received an Oil and Gas Lease (Paid-up) from Bearcat Land and also a W-9 form. The term lease is for three (3) years at 1/5 royalty. Should we go ahead and sign this or wait till the forced pooling order from OCC?
I just want to make sure we are doing the correct process to get as much as we can from this lease.
Any help is appreciated.
inked0180: You will be able to do much better than the 1/5th royalty. I can’t tell you what to do, but if it were me, I would think hold off until a Pooling Order comes out to see what other options may be available. Are you sure you are named in the Pooling application? Base on my knowledge of the area (I own minerals nearby), the more royalty you are able to get, the better off in the long run you should be. You should have received the paperwork for Continental’s Pooling by now as the application was filed on April 10.
If this is the first time that you have leased, it would be very wise to get an attorney to review the draft lease and make the necessary corrections to get it more mineral owner friendly. I have read quite a few of their leases and an attorney would be greatly advised.
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Thank you for your reply. Yes, we are named in the Pooling Order and have received all the paperwork from Continental. I thought we needed to hold out until the pooling order, but my husband wants to get everything sent in a quickly as possible. Thank you for the advice.
Hasty decisions can cost you… you can wait for the pooling and see what other offers are being made… then close the deal.
Thank you for your reply M Barnes. Is there a list of attorneys on the site? or anyone that your would recommend?
The Directories tab above has several attorneys. You will need an OK attorney as the lease language in OK is very different than Texas.
I don’t believe an Order has been signed yet. The hearing was scheduled for 5/1 so even if they held the hearing, it will be several weeks before an Order is issued. Then you will have 20 days from the date of the Order to elect which option you want. You also can lease to any other party that is interested. This is a very good area to be in. That is why so many people chose the 1/4th option because the lease can last a very long time. The cash bonus up front may sound nice, depending on the acreage, but the higher royalty will more than pay for the smaller cash up front. You don’t need to hurry. Just make sure you get the best lease for you. Good Luck.
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