POOLING NOTICE

I recently received 2 declaration of pooling notices (Talisman) for property that I own in Wells township.  What is the time frame for drilling to actually begin?  Once drilling has been completed, does additional work need to be done (pipe lines) before royalty checks are issued? 

 

I was wondering if this was something that would happen in the near future or could it possibly drag on for several years?

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Permalink Reply by Michael Antrim on September 1, 2010 at 10:10am
contact the gas company. find out two things. Is the unit finalized and recorded. Are they pumping gas.

first hurdle is the unit actually finalized. Its appears to me, they move it around like a ouija board until the maximize everything. Some old leases have max 640 drilling unit. the gas companies need to Ratifications of the lease. this can drag out process of final unitization. hope this helps.

When the wells are producing, and unit is not finalized. they bank $ and when unit is finalized, you are issued a check for back royalties. I think this is how it works.

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