Replies to This Discussion

Permalink Reply by Skip Peel - Mineral Consultant on February 13, 2011 at 11:13

Polly, by everyone are you referring to 100% of the mineral ownership interests in the drilling and production unit?  Or just your family members?

• ▶ Reply

Permalink Reply by The_Baron on February 14, 2011 at 3:58

It is not uncommon to show all interest owners on a DO, even the WI.

• ▶ Reply

Permalink Reply by Polly Ann Foote on February 13, 2011 at 11:36

I am talking about everyone with any ownership at all, including the owner of the well, which in this case was Bonanza. I might add it is very interesting reading to see who all has an interest and how much.

• ▶ Reply

Permalink Reply by Skip Peel - Mineral Consultant on February 13, 2011 at 11:59

All the Division Orders that come across my desk, including one from Encana that sits there now, only indicate the information of that individual lessor.  The only documents showing the interests of all parties of which I am aware are field wide pooling orders. They are not Division Orders.

• ▶ Reply

Permalink Reply by Polly Ann Foote on February 13, 2011 at 12:08

Skip,
This is the cover letter from Lion and it states:
TO INTEREST OWNERS:

We are pleased to enclose division order effective January 8, 2011, date of first run, which provides for payment of your interest under the above lease... Perhaps it is different in South Arkansas.

• ▶ Reply

Permalink Reply by Skip Peel - Mineral Consultant on February 13, 2011 at 12:11

Polly, I'll take your word for it.  What is the size in acres of the unit?  And approximately how many mineral interests are included in the DO?

• ▶ Reply

Permalink Reply by Polly Ann Foote on February 13, 2011 at 12:21

Skip
It is an 80 acre unit (S/2 NW 18-18-21) and there are about 65 mineral owners listed . It lists owner name and address, owner number, decimal interest, type of interest, and pay status.
p

• ▶ Reply

Permalink Reply by Skip Peel - Mineral Consultant on February 13, 2011 at 12:30

Polly, I expected that it was a relatively small unit and that's a lot of mineral interests for 80 acres.  I find it curious that the operator sends all the mineral owners a copy of the master list.  Some folks don't care to have others know their business.  LOL!  Thanks.

• ▶ Reply

Permalink Reply by Paul M. Hess on February 14, 2011 at 1:06

Welcome to south Arkansas, land of multiple interest owners scattered far and wide. It is incumbent upon the operator when putting together a "unit" to have his land man check every available record in the county office and title companies to ascertain as best they can every known, indicated and perceived(LOL) mineral owner for contact about leaseing. We had one 40 acre tract we tried to lease about 13 years ago and gave up as the expense of determining and tracking down the 140 some odd owners(unknown heirs upon heirs) was not justified by the then price of oil. And that was because we couldn't get enough info to acquire a minimum 50% so we could integrate (force pool) the rest. I suspect a lot of different type notices will be printed as the current leaseing frenzy continues in an effort to notify interested parties of AOGC hearings and to try and find interest owners currently in limbo. And Polly, yours is the first time I have heard of Lion sending a complete  list of WI and ORRI owners. Most are simply for the individual interest owner to sign and verify their tax info etc. Oh, and least I forget, if anyone not a resident of AR is new to getting royalties off production in AR, do not forget to file your non-resident income tax. It's been a pain in the arse for me for the last 15 years.

• ▶ Reply

Permalink Reply by The_Baron on February 14, 2011 at 4:00

It is even worse now that many of the abstract plants are shut down.

• ▶ Reply

Permalink Reply by 221caribbean on February 14, 2011 at 3:25

I have an interest in an oil well in Lafayette County and every single person or company who is making money off that well is listed in the division order.  That well pays out to a long list -  I was very surprised.

• ▶ Reply

Permalink Reply by Polly Ann Foote on February 15, 2011 at 2:43

I like that Lion Oil sends a complete listing - that is complete transparency. Those interests add up to 100%.  Plus their owner relations department is super.  As long as they process all that oil and send my checks they can publish anything they want - a great contrast to what we are hearing about other companies.

• ▶ Reply

• ‹ Previous
• 1
• …
• 17
• 18
• 19
• 20
• 21
• …
• 25
• Next ›
• Page