Tell the company that is offering 18%, they can have the lease by matching the other offer, see what happens.
I think I would be leary of giving a lease to a company thats not in the drilling business, but thats just my gut feeling.
Hello Barry…If the well is horizontal, or known as a “frack well” you will receive your net acre royalty portion as divided by the whole section, and the amount shared by each mineral owner in the section according to their % of interest. I am not certain as to the royalty % amount unless the same driller is your mineral lease frack lessee. Maybe another on this forum can give a clearer take on this.
The approved drilling permits are on the Colorado OIl and Gas Conservation Commission website, so that’s a known. We don’t own the whole section -they have leases on other parcels in the 640 acres.
I have very little knowledge but I agree with Gary as far as asking the other company to match offers.
I have a question:
Continental Resources INC. is moving into the area with several new permits apllied for in the last two or three weeks. One permit is on a section and the half (north half, 320 acres) that I own. I know I will get royalties from that if it produces.
Another permit is on a section I own, but, I own the south half and the permit is for an area on the north half. If this second area produces oil, will I get royalties off that well because I own own the minerals in the south half of that section or will I get nothing from that one.
The company with the approved drilling permits has offered 18%, The other company has offered 20%. My question is if there is a problem getting your royalty if the company doing the drilling is NOT the company that holds your lease.
Just from my experience Anadarko has been fair to work with, Encana second, Noble last. The other 3 are doing much in our immeadiate area.
Consult with you neighbors that have existing wells.
Ask how they are respectful of surface property.
Both companies are in the drilling business, big time. I plan on going back to the first company and see what’s possible.
In anyone’s experience, are there any companies that are not good to deal with? I’ve so far talked to Noble, Slauson, Anadarko, Chesapeake and EOG.
Thanks.
finally getting to all the note in this group. I found info on other companies…thanks for all the information.
Bayswater Exploration?
Hearing about EOG and Chesapeake in the area…anyone else new?
The rights to minerals is a deed called “Mineral Deed”. This would be recorded in Weld County which would prove your ownership of mineral rights.
A landman came in search of heirs. He found some, that would be us. He also found some people that have NO IDEA what they are doing, but cannot afford a lawyer. Our share for our portion of the family is only 6.25% and that has to be divided by 3 and then in some cases again by 2. So we doubt it is going to yield much…we think, but we aren’t sure, because we don’t understand the math associated with this. I hear a lot about 200 barrels a day but I see reports that seem to say things like 40 barrels per month…I’ve yet to see anything about 200 barrels per day…can you point me there?
Also we don’t understand why one oil company would want to hold a lease on a right where another company has the drilling permit?
In our case the permit has been approved and they have been drilling, possibly even pumping…we just don’t get it.
We are at Section 14, 7N, Range 67W
Has anyone dealt with Carrizo Oil and Gas with a Weld county mineral lease?
Section 14, T7NR67
Could someone please do an example calculation for me?
Example:
I own 2.5 Net Mineral Acres of 120 acres. I am in an 80 acre drilling unit but only 40 of our acres are included in the drilling unit. How do I calculate that? Also, doesn’t poolmg diminish your income?
Just found out today that I own some rights here…Anything good going on? Looks like I am close to Hanna in several sections of T6N R66W, 7N 66W and T8N 65W and one has a well on it with suspended revenue! So excited!
First let me start by stating that I am not opposing or supporting fracking, but am curious as to landowner opinion. My questions is: are you concerned with potential environmental or health issues if fracking is being conducted on your property?
Fracking has been occuring on my property and adjoining properties for 20+ years. No evidence of any enviormental or health issues.
I believe its the new podium for the tree hugger liberal crowd. But then I don’t have any spotted owls on my place either.
Vladimir, why be concerned? There is no evidence that fracking has any relation to enviromental or health issues. Out of the million upon millions of wells fracked there have only been a few times issues have come up. Don’t these odds alone make you feel better? Love your comment Gary.