Meeting with WKGD

 Were any of you in attendance at the meeting with KWGD on Monday at the PLCC. I was there and was totally surprised by the number of people in attendance. What were your thoughts about the meeting? I found it to be very informative.

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Replies to This Discussion

Permalink Reply by DM on February 16, 2012 at 9:39am

I've got a feeling more of those type of letters will be received in the next couple of days. 

Permalink Reply by Finnbear on February 17, 2012 at 1:57am

Is there something in the KWGD lease agreement that gives them time to "cure" title defects? If so, is the O&G bound by the lease to accept those parcels once the title curative work is done?

I realize it may be too late now, but those are things that should have been included in the lease agreement.

Permalink Reply by scott peterson on February 16, 2012 at 9:36am

Crap, i hope Nate can help you resolve it. Got my fingers crossed for you Red......

Permalink Reply by Chris Smith on February 16, 2012 at 10:01am

what would the neighbors well have to do with it?

Permalink Reply by Chris Smith on February 16, 2012 at 10:03am

Anyone know what HBP stands for?

Permalink Reply by DM on February 16, 2012 at 10:13am
HPB = held by production
Permalink Reply by Finnbear on February 17, 2012 at 1:46am

When an O&G leases a bunch of contiguous land in an area they develop, they "unitize" acreage around each well and the well Holds By Production (HBP) that land until the well no longer produces oil and gas. Depending on well location and property line locations, multiple landowners can be HBP by a single well. Other things written into the lease can also HBP that lease/land and this is why it is SO important that you know what you actually own BEFORE you go to a lease signing.

Permalink Reply by Chris Smith on February 16, 2012 at 10:34am

Red-sorry about the news.  What kind of well is it on your neighbors property?

Permalink Reply by Red Skelton on February 16, 2012 at 11:29am

Thats the best part. The acreage we own (28.7) was originally part of a 180 acre farm. We bought the property 23 yrs. ago. The neighbors well (45) acres away hasn't been in production for 9 yrs. He bought it off the lease holder for his own use (domestic well) lease holder pulled the tanks etc. 9 yrs. ago. Now, here's the capper. The well they are referring to in the title search was capped 25-30 yrs ago. There was originally 3 wells on the property. All capped except for the neighbors well, which he gets so little out of he has a propane tank in the back yard. Nice eh??

Permalink Reply by Finnbear on February 17, 2012 at 1:40am

If that truly is a Domestic well and no other wells are in that HBP unit, you should be able to get that cleared up fairly easily with a few documents being filed.

You need to go to the county recorders office and get copies of the original lease and ALL the other documents notated on that original document. Take that to a good O&G attorney and have them work out the "release of lease" on the areas where there is still an issue.

KWGD should have cleared those minor title issues for their fees - IMHO.

09bp5t05myjl3Permalink Reply by 09bp5t05myjl3 on February 17, 2012 at 3:19am

Maybe Mike Belaj the Oilman/landman/flipper with his buddy Geodude should be able help, wasnt he your buddy Red? I hear that geodude got kicked off the site  Is that true?

Permalink Reply by DM on February 17, 2012 at 3:24am

Tom, are you a member of the KWGD group?  I think I speak for everyone when I say - if you don't have anything constuctive to add to the convo the GTFO!

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