Hi Palermo, If I were you, I would also give the oil company who holds your lease a call. Just call the HQ main number, tell the operator you are a royalty owner on Well such'n'such name-#-#, and as to speak to the executive in charge of the land drilling in the area. Be sure to get a spelling on the exec's name and a direct dial number- at least for the exec's admin and ask the admin for their email for ongoing communication and questions....You can ask the exec for their email, but don't expect to get it -- I am told that my co. exec gets 1000+ emails per day.... When you get through, (May take a few tries, do leave a message, but I would keep calling till I reached them) I would ask about the details about the well : What was the total depth on the vertical What was the total length of the horizontal What was the Initial production rate in barrels of oil per day, and barrels of water per day, What level of gas are they finding Will it connect to a oil pipeline quickly, if so which one? """""" gas pipeline, , " If not, when (or IF) they expect to connect. When will the division orders go out? Appx how long from return receipt of the signed division order until they start cutting checks? I would also ask them to copy you on everything that is sent to your mother to ensure 'prompt response' (my oil company did allow me to do this as I am in the same situation as you are), give them your full contact information, including phones, snailmail, email, etc. Just a suggestion, but you might want to have a chat with your Mom about putting you in charge of this stuff --- gets pretty darn confusing, and if you have a big producer, it is only going to get more complicated dealing with double-checking production against reported, etc. Make sure that you have a local acct to help her (and copy YOU) on everything. It is so hard for the older folks to deal with business of this magnitude and complexity. And, your Dad knows, believe me --- in about 1980, my Dad took me into a pasture and told me 'Here is where there is oil, right here' and pointed to where we were standing. Fastforward to 2008--- we are in the dockets for permitting, and when the exec told me where the horizontal leg is being placed... it can't be more than 75-100' (feet!) from where we were standing........ ya never know.....hope your Mom is well.... Chin up! Rufus
On Oct 3, 8:44 pm, Palermo <[EMAIL PROTECTED]> wrote: > Hi David, > > Thanks David for your fast reply, and info, I can put my mother's mind > at ease now as she was told royalty's would be right away. I did see > the "Hearing Docket" button on the web site but spent most of my time > looking at the Scout Ticket Data, and your news makes perfect sense. > As most of you all know much of the info the elderly are told is "hear > say" that some how is taken as truth, she was convinced something was > wrong...... I guess after seeing the oil activity ramp up only to pull > out several times in her life might have something to do with her > concern. > > Does it make any huge difference when minerals are put into a trust or > LLC aside from the tax issues, as I know the minerals must clear the > oil company's law department? > > Thanks again, I can tell you she will sleep better tonight. > > On Oct 3, 4:52 pm, David <[EMAIL PROTECTED]> wrote: > > > > > Generally figure 5-6 months between when the well first goes into > > production and the first royalty payment. The first royalty payment > > will be for the first 2-3 months of production. > > > Watch for the pooling interest hearing for your well on the dmr > > dockets sitehttps://www.dmr.nd.gov/oilgas/docketindex.asp > > > The royalty payments generally show up in your mailbox 2-3 months > > after the hearing date > > > On Oct 3, 4:07 pm, Palermo <[EMAIL PROTECTED]> wrote: > > > > Hi, > > > First many thanks for you taking the time to discuss issues and > > > sharing with the helping newbie's. > > > > Some background: > > > Our family own a farm several miles south of Palermo (homesteaded by > > > my grand father, purchased by my parents n the 40's) I take care of > > > it for my lmother who is late 80's. We own all the minerals which are > > > leased it. It was drilled in July, frac'd in Aug. and seems to be in > > > final the completing stages. The tanks are in place, rod pump > > > pumping, elec panel in place, flaring gas, trucks going in and out, I > > > know many are hauling salt water along with the oil. I see that it > > > comes off the confidential list the end of Dec.. I've been watch this > > > area on the ND state subscription web site trying to learn all I can, > > > and naturally excited for the region (I live out of state, but return > > > as often as I can 2-3 times per year minimum) except for the roads (I > > > feel the oil company's perhaps might help out a little with the > > > damage, but that is just MHO) this area deserves this, and I trust it > > > will help the area. > > > > My question is we've heard nothing, we do know there is oil, but it > > > could be 100 Bbls/day to 500, just have no clue, we do not have any > > > idea about the IP or a clue about the process going forward. I do > > > read this blog daily, I assume at some point there will be a division > > > order required singing. > > > > May I intrude upon you to explain the process going forward we might > > > expect? As you might expect my mother is anxious about things. Most > > > all her friends are also in her age group and they do not either > > > understand or simply get things wrong. Her only scource is the > > > "Promoter" ( I love the color in the last issue), and what ever I can > > > find on the ND web site. > > > > From friends we were told after the Frac process there was a little > > > sand issue, they think now has been fixed, other than that we know > > > nothing and do nor know what to expect. > > > > Sorry for the wordy thread, but I know do details matter. > > > > Questions: > > > When and what should happen going forward, naturally her interest at > > > her age is the expected date for royalty payments to start as these > > > would really help her life. > > > > If this ends up a meaningful producer at what point should the > > > minerals be moved into a trust or an LLC? I know there will be a very > > > complete title exam and was told not to do anything till at least an > > > IP# was announced, better the first royalty payment. > > > > I know many of you good people have been through this process, if you > > > could share some of the timeline, and what to expect I'd appreciate > > > it. > > > > Again thanks for all your great group work.- Hide quoted text - > > > - Show quoted text -- Hide quoted text - > > - Show quoted text - --~--~---------~--~----~------------~-------~--~----~ You received this message because you are subscribed to the Google Groups "Bakken Shale Discussion" group. To post to this group, send email to [email protected] To unsubscribe from this group, send email to [EMAIL PROTECTED] For more options, visit this group at http://groups.google.com/group/bakken-shale-discussion?hl=en -~----------~----~----~----~------~----~------~--~---
