Here is a good article on federal taxes on royalty income. The tax brackets are for 2012 so the brackets are a bit higher now for 2014. Oklahoma income tax will add 5.25% to that from what I can tell.
http://www.mineralweb.com/owners-guide/leased-and-producing/royalty…
Anyone have any info on Chesapeake’s increased density request into the Lower Hoxbar? Sct8, TS2N, Rng 7W. Their current well is Wheat 1-8.
In between Church services yesterday and while hubby took a nap I ventured down to the diggings to see what I could see. Looks like all the Poteets have lots of tanks set. I figure there is one central tank battery for the locations that have two wells on them as there were 8 oil tanks and four water tanks on four of them. On the Poteet #2 in section 8 2n4w I believe there were 6 oil tanks and 2 water but I couldn’t really see them too well on top of the hill and hid some by trees from my angle. I did figure out how to get to the wells on the west side. I had to go to the road that runs between the McElroy #1 and the Salt water disposal location. I turned north and followed the winding road past a new compressor station. The road continues to wind north and east between the Chalphant (I believe) and nearly to the Robert Jo location where a new lease road had been built going south into the locations for two locations. From the Robert Jo well I could see all four locations that have just been drilled for (I believe) Poteets 3-10. It looks like on all the locations they have trucks and equipment and were perforating and probably logging so I sure the fracing is not far behind!!! Yes, dear friends I did take some pictures and if I can figure how to get them off this camera and on the post you will see what I saw although I couldn’t get a picture of all the tank batteries for those locations at one time. Stand by and I’ll do my best! The wind and dust were horrible and next I’m off to the car wash. Can’t believe I’d ever drive my nearly new car down there especially on a day like that!!! I must love you guys and gals a lot!! 
Yelp!!!
Hutch, Checking on one of the locations I am interested in on 18 mile road I went past a poteet well being fraced that is north of 1st poteet and situated right by the 18 mile road. Guess things are looking up for you.
Thanks Richard. Linda was out there today and said she got some pictures. Is 18 mi.rd. on the west side of the section? Anyone know the capacity of the oil tanks?
IT IS FOR REAL and even if it slows down for a while it will pick back up some time or another-it always does!
Can anyone recommend a good Title company in Stephens County? With a change in the state statute regarding recording info required by county clerks, we need to get a more specific legal description of one of our interests there. Any help would be greatly appreciated!
Linda, thanks for the great news, maybe CR will have some completions to tell us about in the quarterly report next month. I really appreciate all you do to keep us informed!
Hi, Linda. Maybe I can help you get to the pictures. Most modern digital cameras have a memory chip, Usually an SD, SCHC (about the size of a postage stamp) or mini SD card (about 1/4th that size) that can be easily removed. If your computer has a reader for these, your computer will be smart enough to find your photos if you take the Memory card out of the camera and put it in your computer.
Tanks%20on%20a%20Poteet%20Location%20Pick%20%231.docTank%20and%20logging%20trucks%20on%20Poteet.docPoteet%20Location%20also.docPoteet%20location%20with%20more%20tank%20batteries.docPoteet%20Location%20with%20trucks%20and%
20equipment.docPoteet%20wells%20two%20sets%20of%20tank%20batteries.doc
Sorry if I have any repeats on here. If I find more pics I’ll post. All these are for the Poteets.
Thanks John…I found them before I read your post but I greatly appreciate your explanation! Now is I can get them posted. Here goes:
Good timing Linda, going to take a look on the big screen.
Looking forward to your photos.
Shoot, guess I’ll have to wait on my husband to get home from golfing to remind me how I get to these pictures. It’s been too long since I did it and I’ve forgotten how to access them.
Beautiful Linda! Seeing those pictures gets me excited again, it’s for real!
Linda, in the first photo you posted there were two darK colored contaIners and several light colored ones. do they hold different things?
Michael these pictures are sure different then the first picture I took of them drilling the first Poteet. Congratulations!!! Diana the dark tanks are usually water storage tanks and the light ones are for oil.
Tried to answer you question twice this afternoon about the color of the tanks, Diane, but after I wrote it all out and clicked “add comment” it wouldn’t post it. That’s happened to me several times. Don’t know why. It may be because our internet is SO slow! We pay for what Windstream calls “high speed internet” but it’s so slow we can’t watch videos and sometimes when we try to send or receive an email it times out before getting it done! They say we can’t get any faster out here in this part of the country but they just bought a little bit of land from our Church to put up a “booster station” or something like that so maybe someday! Anyway, yes, as Richard said the light tanks are for oil and the darker for water (salt water that comes out of the well). The less water a well makes the better for us and the oil companies because it cost extra for all the salt water to be disposed of. Continental was painting their oil tanks silver and the water tanks green but on all these new Poteets they are painting the oil tanks tan and the water tanks a darker tan or brown. Maybe they got a bargain on tan paint or Newfield let them have their leftovers! lol
Hutch, I’m pretty sure that 18 mile road is the one I call water tower road which is on the east of section 17 and east of all the Poteet wells. I know that 19 mile road is on the east side of section 21 2n4w where all the Branch wells are padded.
A long time coming Richard. Glad they got all those holes drilled before oil price went south.
Hutch, 18 mi. road is on the east side of poteet wells.
Christine Putnam In answer to your question about title. Here is someone I used with good results. Ellis & Buckholts, Patterson Building, 929 West Willow, Duncan, OK 580 252 3240 (I do not know them personally only used their services and was happy with the timeliness and results)