Is there always 640 acres to a section, or could there be less?
Is there always a guarantee that the full 640 acres will be used to divide the royalty? I understand our lease to read that it will be divided by what the lessor owns within the section. Do they sometimes only lease part of the section, or do they always lease the full section? We are nearly exactly on the dividing line of a section. Do we have to share with the adjacent section also?
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Replies to This Discussion
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Oil & Gas ProPermalink Reply by Jay Murrell on -
There are no Commissioners Units formed for that section at this time. Have you received an interested parties letter from a law firm recently?
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Oil & Gas ProPermalink Reply by Jay Murrell on -
CHK has a Haynesville test permitted in your Section, it is permitted as a lease well. That means that until the Commissioner's unit is formed the lease owner that the well is drilled on will get the $.
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Permalink Reply by BMW42 on
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Jay, thank you for all of your replies. I am sorry for my ignorance of the terminology and the other facts. I have researched a lot, but am still lacking. I am not exactly sure what an interested party letter is. We have signed a lease with CHK and was told they are going to drill real soon. I do not know what a Commissioner's unit is. We own a small lot in section 9, and if we have to split royalties with all 640 acres, it will be a very small amount of $ from what I can gather.
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Oil & Gas ProPermalink Reply by Jay Murrell on -
No problem, I've been doin' it 31 years and I learn something new every day.
An interested parties letter would come from a law firm and it would have a plat attached that would depict the proposed Commissioner's Units that were proposed to be formed.
If you want to get the direct skinny call Jim Broussard or Jackie DuVal at the Office of Conservation in Shreveport at 676-7582. They will be able to tell you if a Haynesville unit has been proposed for your Section. They are both really good guys.
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31 years is impressive. That must be why you seem to really know your stuff. :-)
How will I, as interest holder, be effected by a unit being formed compared to a section? -
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Oil & Gas ProPermalink Reply by The_Baron on -
This is a horizontal well, I would expect CHK to form a unit soon.
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What difference does the unit make to me 'as an interest holder'? Thanks so much.
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Permalink Reply by BirdDawg, plain ole' idiot on
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BMW42,
I wouldn't rely entirely on tax assessor information if you want to be sure of the size of your section.
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Oil & Gas ProPermalink Reply by Jay Murrell on -
Not necessarialy
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Jay,
Not necessarily what?
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The tax assessor office told me that all of there sections are 640 acres; so, I am curious if all 640 will be on one well, or could it be part of the section was leased and the other part wasn't.
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