Production unit

Another question. New to this.. Stat oil Just startinga well close to us and I'm worried that we're not in the production unit. It's like in our neighbors field. Not sure how feet away. Just very very close. It's the company we signed up with 5 years ago. I asked them if we were in the production unit and they said 99 percent sure. Does that mean we should be getting something in the mail and also I'm concerned there going to come under and drain my gas and still and not put me in the production unit.

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Permalink Reply by Kevin on March 2, 2014 at 3:48pm

I have been hearing a lot about that!

The division order is a single page verifying names, address, phone number,  ss#,  and decimal interest.

There is actually a statement that says, "This Divison Order does not amend any lease or operating agreement between the undersigned and the lessee or operator or any other contracts for the purchase of oil or gas"

I only own 3.4 acres. I don't know if that makes a difference or not.   

This is Southwestern not Chesapeake. I have yet to here a complaint about Southwestern. The deductions are around 12% - 14% which isn't bad compared to Chesapeake.

They also just drilled well #2 and #3 on this pad. It is a small unit of 411 acres and only runs in a northerly direction because Chesapeake is right to the south of them.

Permalink Reply by kit on March 3, 2014 at 5:15am

Well..I called the recorders office..guess what they cannot find my lease!!!! I called the compAny I leased with and they never called me back...is this a common practice that leases are not recorded.....It's been 4 years since we signed!

Permalink Reply by Anonymous on March 3, 2014 at 1:56am

You really don't need to go to the court house.

Go here  https://www.landaccess.com/uslr/UslrApp/index.jsp

Follow the directions and you can pull up everything about yourself on line.   In fact while I was looking it up for you I discovered that Chesapeake finally filed paper work that we had signed 2 years ago!   LOL

Permalink Reply by INVICTUS on March 3, 2014 at 2:07am

Online reporting is ok to do an initial search, but as Anonymous points out, The O/G company can hold that document that a landowner signed in their back pocket and:

A) File it IF and WHEN they need the document, sometimes years later;

B) Never file it if they do not need the Landowner's compliance on that particular issue.

DO NOT SIGN ANYTHING without your Good Oil/Gas Attorney involvement Folks!

AND, when do sign it; keep it in a file and KNOW what is it you just signed!!!!

Chesapeake knows how to operate strategically/tactically in their timing of these recorded documents.

So does American Energy Partners: The soul of which is Mr. McClendon plus his management staff.

It's business, folks. Please don't be afraid of it, but DO take it seriously.

Keep your records and files organized!

Permalink Reply by old trapper on March 3, 2014 at 2:24am

Pat go to Woodsfield recorders office they will help you ! they are very nice and will be glad to help .  good luck I'm in green township Monroe county

Permalink Reply by DONNA M SELLERS on March 3, 2014 at 3:27am

How does a person know what or if the decimal interest is correct? The reason I ask is because after all lease was signed etc etc and I received my signing bonus check they had my acres at half I owned. had to write company CHK letters and explain my lease man got it wrong(he admitted to the mistake) and the it took 4 more months to get the rest of money. how do I figure out what the decimal would be on 16.666667 acres on a 401.616 +/-  Tract acreage? thanks

Permalink Reply by Summer Johnston on March 3, 2014 at 3:58am

I think you divide your acreage into the total number of acres in the unit.

 

16.666667 divided by 401.616 = 0.0414990

I think.

Permalink Reply by evan on March 3, 2014 at 4:00am

Donna I came up with .83 

Permalink Reply by DONNA M SELLERS on March 3, 2014 at 4:07am

thanks

Permalink Reply by Kevin on March 3, 2014 at 4:36am

Summer is on the right track. 

Your acreage / total unit acreage x royalty percentage.

16.666667 / 401.616 = 0.0414990 x your royalty %.  It's not going to be .83

Donna, What is your royalty percentage?  

Permalink Reply by Doug Duffield on March 3, 2014 at 5:45am

Interesting, never heard Stat Oil was drilling or signing leases either, learn something everyday i guess.

Permalink Reply by kit on March 3, 2014 at 6:16am

There not..they took over reserve energy's leases.

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