Finding info about Louisiana's Forced Pooling process

My family has been approached about leasing land in W Feliciana.  I work in the oil and gas industry and follow North American onshore for a lliving, so I have some idea of what i want to do, whichiis not to lease now.  I do not think this is right for everyone, but that it is for our situation now.  

 

Anyway, I am trying to get a good handle on what are the steps in the forced pooling process, what are my options along the way, and what should I expect when.  I am sure this exists somewhere onthis site or another one.  In particular, I am interested in the conditions under which the operator can foce a cash call on a force pooled owner and the conditions in which the Risk Fee Statute apply.  If anyone has any information on this, I would be very grateful to be pointed in the right direction.

Thanks 

Tags: fair, forced, pooling, pooling., unitization

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Permalink Reply by david crocket on January 19, 2012 at 18:36

type forced pooling in box in upper right hand corner of page and it should pull up some discussions that have discussed it.

Permalink Reply by The_Baron on January 20, 2012 at 4:25

I f you are a unleased mineral owner, the risk statute does not apply.

Permalink Reply by Skip Peel - Mineral Consultant on January 20, 2012 at 4:55

And there is no "cash call" as a UMI is not a Working Interest owner.  LA. mineral law directs the operator to apply the UMI's portion of production to their proportional well costs until the well reaches payout.  Then the UMI receives 100% of their proportional share of production less any regular operating costs.

Permalink Reply by The_Baron on January 20, 2012 at 10:50

Personally I would consider leasing. Not many wells  being made in W. Feliciana. I'd take the bonus and run.

Permalink Reply by Henry on January 21, 2012 at 1:28

Go to the group called "Unleased Mineral Owners."  There is a great tutorial there that will help you.

Permalink Reply by Les Bamburg on January 21, 2012 at 5:14

Raoul, attached is the relevant regulation.  Note the provision in RS 30:10(A)(2)(b)(e) concerning unleased mineral owners.  Essentially the operator must "carry" their interest.

Attachments:
Permalink Reply by Raoul LeBlanc on January 22, 2012 at 13:10

Thanks, everyone, for the help.  If I can be carried (essentially converted into a working interest owner, though not "in the business"), then I think that the reward for leasing now for my very small acreage position is not worth the potential upside.  I used to work in the portfolio optimization group at a large independent, so I am familiar with the risks and payback times for oil and gas wells. 

Thanks, again.  The site is a wealth of practical information. 

Permalink Reply by Two Dogs, Pirate on January 22, 2012 at 14:16

Many wells never hit payout. You lose at that point.

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