Information on the status of the 8500' vertical Wildcat Solomon well #419-31244?
We leased to Atoka Operating Inc. located @ 16200 Addison Road, Suite 155, Addison, Texas back in October 2007... Spud January 7th 2008... completed January 28th 2008 and validated February 12th 2009 with disposition of 'Shut-in'
Since then we have received payments yearly of one dollar ($1.00)... Atoka still does not respond to mail or phone calls... does anyone have information on the company or know just how long they can hold a lease after drilling a well with the status of 'Shut-in'?
It is not that we really expect to receive any great monetary value from the well as we only own 43 acres of land under it and would most likely not be worth the cost of hiring a O&G Attorney and Court cost to deal with it, however it would be nice to have some type of understanding of how this all works. Other wells have always either paid off or been capped on the other tracts of land we own... and the companies respond to our queries... Atoka does not accept Certified/Registered U.S. Mail that we have sent on numerous occasions.
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you got to check your lease. the provision for "shut-in" will be there with the terms by which they must abide by. and it was agreed upon when you signed your lease. often times there will be something to the effect of ongoing operations. this means they have to be working on the well or something to that effect. what "shut-in" language does your lease have ?
King John - thank you for the input!
Lease lauguage is a single line - Nothing other than a 'shut-in' fee in the amount of $1 per year will apply if applicable ... wanted to ask Atoka how long they would hold it ... but again, they do not respond!