Comment

Comment by George M Downing on October 4, 2018 at 7:32am

Q2 2018 Presentation 

I'm curious if anyone has any information on BRMR using the Spencer pad to drill a Utica well. They state that in will be TIL (turn in line) by mid- Sept. 

Comment by Bob Donaghy on September 4, 2018 at 6:04pm

I think if there is no activity after two years, they have to reapply.

Comment by WV Mineral Owner on September 4, 2018 at 12:21pm

Shelly,

It depends on the length of your lease.  Traditionally, leases in WV are for 5 years, but there are some 3 year leases.  Additionally, many leases include an automatic renewal for one or two terms.

Comment by Shelly Stubblefield on September 4, 2018 at 12:15pm

After the permit is issued is there a certain amount of time the have to drill before they have to do a new lease

Comment by Kyle Nuttall on June 4, 2018 at 4:07pm

Things seem to have really slowed down in Tyler recently.  You can still lease for $3000-$4000/acre and 18%, but getting an offer is far less common that it used to be.  Anybody seeing otherwise?

Comment by Tim Woodburn on March 7, 2016 at 6:59pm

They didn't do that with this one, Kyle. Although I have not yet been able to reconcile JB's DecimalInterest numbers with my calculations.

Comment by Kyle Nuttall on March 7, 2016 at 6:12pm

The other thing I've seen with a lot of DOs, even the most simple ones, is that they ask you to certify that you own 0.xxxxxxxx in the unit.  You don't have the numbers necessary to calculate that number, so it's not right for them to ask you to certify it.  I recommend that you cross out "certify", initial the change, sign the DO, and send it back like that.  They may make a fuss, but tell them you can't certify something you can't figure out on your own.

Comment by Tim Woodburn on March 7, 2016 at 6:08pm

Thanks, WVMO. there's one of those in there.

Comment by WV Mineral Owner on March 7, 2016 at 12:48pm

Tim,

I strongly suggest you read the DO very closely.  Jay-Bee has been sending out DOs with non-typical clauses, such as an 'Indemnity' clause.  While the DO does state it does NOT amend the original lease, I do not see any reason for additional clause that may cloud an issue.  Contact the NJ office and request a traditional DO.

Best of luck,

Comment by Tim Woodburn on March 7, 2016 at 12:26pm

Two other family members and I, owners of mineral rights on 70 acres in Tyler County, have received a notice from JB, our Lessee, that they have drilled a well that affects our parcel.

Before we sign the Division Order they sent, are there any questions we should be asking them? It would seem like we are pretty much constrained to the conditions of the lease at this point.

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