Replies to This Discussion

Permalink Reply by Skip Peel - Mineral Consultant on February 15, 2011 at 3:09

Polly, not every ownership interest on that list may feel the same way.  Many people prefer to keep their private business dealings confidential.  One man's transparency may be another man's invasion of privacy.  And transparency can be a double edged sword.  There are still millions of documents recorded in tens of thousands of Clerk of Court offices throughout the nation that include social security numbers.

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Permalink Reply by The_Baron on February 15, 2011 at 8:21

Showing the entire ownership can save problems later. Besides, with the exception of the WI, all the mineral ownership is all public record anyways.

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Permalink Reply by Skip Peel - Mineral Consultant on February 15, 2011 at 10:02

Baron, do you mean the ownership interest in the production unit is public record just as the title is public record?

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Permalink Reply by The_Baron on February 15, 2011 at 10:04

the RI would be. You would have to dig it out though. Also, in AR producing minerals are taxed, I am not  sure if thoses tax rolls would be totally public or not.

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Permalink Reply by Skip Peel - Mineral Consultant on February 15, 2011 at 10:06

Gotcha.  Thanks.

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Permalink Reply by Skip Peel - Mineral Consultant on February 15, 2011 at 10:21

tony, are you referring to the D O and the decimal interest for each RI?

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Permalink Reply by The_Baron on February 16, 2011 at 8:40

We provide a copy of the division order to the County Assersors. They then take the individual interest and assign a valuation based on the production of the well.

 

 

Permalink Reply by Herman (Chuck) Plonnigs, III on February 15, 2011 at 14:22

If I’m not mistaken, in Louisiana, severance taxes are to be paid on minerals after two years of production. In other words wells brought into production in 2008 should have started paying these taxes last year

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Permalink Reply by The_Baron on February 16, 2011 at 8:46

Not quite the same thing as we are discussing above. In AR you pay a severance tax based on the actual prodution of the well AND you pay an ad-volorum tax on your mineral estate if the minerals are producing.

 

In LA, there is a severance tax, which is paid as a % of production (or set price per mcf of gas) with the rate being determined by the type of well, as incapable well and stripper wells are at a lower rate.

 

Horizontal wells qualify for the Severance tax relief program which exempts the well from severance taxes for two years or until payout, whichever occurs first.   

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Permalink Reply by Skip Peel - Mineral Consultant on February 20, 2011 at 5:51

Excerpt from MagnoliaReporter.com:

 

Two new drilling permits were issued for wells in South Arkansas last week by the Arkansas Oil and Gas Commission.

J-W Operating Company of Longview, Texas is the operator and Patterson-UTI Drilling Company LLC is the contractor for the Denny 1-32H with a surface hole location 1,320 feet FNL and 1,320 feet FEL, and a proposed bottom hole location of 280 feet FSL and 1,320 feet FEL in Section 32-19S-17W in Union County. Total vertical depth will be 9,600 feet and measured depth will be 13,400 feet in the Smackover Zone. Work will start March 9.

Four R Operating Company LLC of Smackover is the operator and Superior Well Drilling LLC is the contractor for the Rutledge No. 3, 2,322 feet FSL and 280 feet FWL of Section 10-16S-16W in the Smackover Field of Union County. Permit depth is to 2,250 feet in the Nacatoch Zone.

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Permalink Reply by Ryan F on February 21, 2011 at 4:54

What does the shallow well have to do with anything?

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Permalink Reply by Skip Peel - Mineral Consultant on February 21, 2011 at 4:59

This is a cut and paste of a drilling report published by MagnoliaReporter.com.  If I thought the Four R well was of any significance, I would have made it bold also.

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