Replies to This Discussion

Permalink Reply by Damon on December 14, 2008 at 5:34

I talked with CUbic/Fossil/Tauren last week and while we are hbp they have not started cutting royalty checks in my section yet. They sate the Lawyers still have the paprwork and they are not sure when it will be compete. I' m held by the Barlow 11. its been producing for almost a year now. I think they are praying for a buyout. Chesapeak contacted me last april for a lease but when the title work was done they told me they couldn't lease me because of hbp.

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Permalink Reply by BirdDawg, plain ole' idiot on December 14, 2008 at 6:12

Damon,
I think a year is way too long for them not to pay you. I would have a lawyer send a demand letter.

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Permalink Reply by The_Baron on December 14, 2008 at 6:24

I agree. The info on SONRIS clearly shows this is a unit well, and has produced every month since Jan. Looks like its made a decent amount of condensate as well.

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Permalink Reply by Dion Warr, CPL on December 18, 2008 at 1:52

Damon:

How many owners are in your unit?

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Permalink Reply by Damon on December 18, 2008 at 1:55

there are 8 of us that have been in communication with one another totalling about 60 acres. I beleive our section is completely leased. but i can't be for certain.

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Permalink Reply by Dion Warr, CPL on December 18, 2008 at 5:42

Damon:

By the looks of the well plat filed with the original permit there are about 40 tracts in your unit, and the only well ever drilled in your section was spudded in 9/2007. Unless there the actual title is squirrelly, the title analysis should not have been too difficult, as the production history looks pretty straight forward.

Call the attorney; have them send the letter. You need to get in pay. Tell them to put a unit survey plat of record, too. Even if they don't have a unit survey plat completed, they should still be able to place you in pay status based upon estimated tract participation; they can always adjust the royalty out later when they do have a proper survey. Rough guestimate is sales of $350K+ out of the well since 1/2008.

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Permalink Reply by Skip Peel - Mineral Consultant on December 18, 2008 at 5:06

KB/Baron. The discussion was of interest until it became so personal between you two. Now it has become a two way back and forth. The value of following along is gone. Please agree to disagree and move on.

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Permalink Reply by Skip Peel - Mineral Consultant on December 18, 2008 at 5:16

Okay. I'll stop following. I just think that the nature of the "attacks" has become too personal. On both sides.

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