Anybody Knowledgeable About Oil and Gas Leases? (McAlester, Pawnee: appraiser, leasing)

[redbird4848]

Wait, Synopse was offered $1000/acre and angellady was offered $4500/acre? Wow. Big difference for a few miles apart.

We live in Hughes County and have not had any royalties for a long time. I heard if they don't pay you any royalties for a year, you can sue them. If anyone knows a good oil/gas attourney, send me a DM.

Our friend from Cali lives down close to Calvin, OK. He is the one who has been having people from Texas surveying his land. Then he "threatened" to sue them, and they countered with an "actual" lawsuit of their own. It got pretty nasty, but the oil company has the bucks to hire an attourney, and most folks don't have that.

*Oklahoma Fast Facts
General Overview
• Population: 3.6 million (2006) (ranked 28th)
• Per Capita Income: $29,330 (2005) (ranked 41st)
• Total Energy Consumption: 1,490,910 billion Btu (2003)
• Total Petroleum Consumption: 98,282 thousand barrels (2004)
• Gasoline Consumption: 45,403 thousand barrels (2004)
• Distillate Fuel Consumption: 22,757 thousand barrels (2004)
• Liquefied Petroleum Gas Consumption: 7,348 thousand barrels (2004)
• Jet Fuel Consumption: 6,898 thousand barrels (2004)
• Natural Gas Consumption: 538,141 million cubic feet (2004)
• Coal: 22,680 thousand short tons (2005)

Petroleum Supply (Upstream)
• Crude Oil Proved Reserves: 630 million barrels (2005) (Accounts for 2.9 percent of
U.S. crude oil proved reserves.)
• Crude Oil Production: 62,841 thousand barrels (2006) (Accounts for 3.3 percent of
U.S. crude oil production.)
• Total Producing Oil Wells: 82,284 (2006) (Accounts for 16.4 percent of U.S. producing
oil wells.)
• Rotary Rigs in Operation: Average per month 179 (2006) (Accounts for 10.9 percent of
U.S. rigs in the field.)

Natural Gas Supply
• Natural Gas Proved Reserves: 17,123 billion cubic feet (2005) (Accounts for 8.4
percent of U.S natural gas proved reserves.)
• Natural Gas Production: 1.645 trillion cubic feet (2006) (Accounts for 8.8 percent of
U.S. natural gas production.)
• Total Producing Gas Wells: 38,060 (2006) (Accounts for 8.6 percent of U.S. producing
natural gas wells.)

*OKLAHOMA CORPORATION COMMISSION

[redbird4848]

FYI,

The price of Oklahoma Crude oil reached $131/barrel as of Friday, 5PM on June 20, 2008 and is expected to rise to $150/barrel by July 4th, 08.

FOR THE YEARS OF 1950 TO 2006
YEAR PRICE PER
BARREL
1950 $2.57 1986 $14.51
1951 $2.56 1987 $17.46
1952 $2.70 1988 $14.81
1953 $2.70 1989 $18.23
1954 $2.79 1990 $22.95
1955 $2.79 1991 $19.72
1956 $2.78 1992 $18.99
1957 $3.03 1993 $16.71
1958 $2.96 1994 $15.51
1959 $2.92 1995 $16.85
1960 $2.92 1996 $21.02
1961 $2.91 1997 $19.83
1962 $2.92 1998 $13.12
1963 $2.91 1999 $17.75
1964 $2.90 2000 $29.64
1965 $2.89 2001 $24.64
1966 $2.91 2002 $24.44
1967 $2.93 2003 $30.02
1968 $2.99 2004 $39.74
1969 $3.12 2005 $54.60
1970 $3.19 2006 $60.75
1971 $3.40
1972 $3.41
1973 $3.78
1974 $7.18
1975 $8.52
1976 $9.19
1977 $9.94
1978 $10.90
1979 $15.03
1980 $27.38
1981 $35.18
1982 $32.74
1983 $29.84
1984 $29.09
1985 $26.39
Source: Oklahoma Tax Commission

[mkfarnam]

The price of Oklahoma Crude oil reached $131/barrel as of Friday,

on June 20, 2008 and is expected to rise to $150/barrel by

.

What time on the 4th of July is it expected to rise?

[redbird4848]

LOL. MK, when gas hits $5/gallon, you will hear them laughing all the way to the bank.

For those with inquiring minds and a LOT of time, there is a way to research well construction and company information on that website. Just click the link below and follow the instructions.

OCCWebAppsPage

This is a program which allows you to search the database of the Oklahoma Corporation Commission for wells on your property. Basic well information, completion and production.

I am just tapping into it, and it is amazing what one can find on the web. Requires a download, but it is WELL worth it.

Happy drilling for information.

[redbird4848]

Originally Posted by Synopsis

They've been on that property for nearly 3 years and I have not seen one red cent of money. They are either pocketing the money, or are a bunch of fools that sits on a property for three years and doesn't find any oil or gas.

Synopse, if a person does not receive any royalties for one year, place a call to OK Corp. Commission. The drilling company will receive a letter from OK Corp Commission telling them they have to plug or produce in 30 days.

Puts a fire under their ass.

[Synopsis]

Originally Posted by redbird4848

Synopse, if a person does not receive any royalties for one year, place a call to OK Corp. Commission. The drilling company will receive a letter from OK Corp Commission telling them they have to plug or produce in 30 days.

Puts a fire under their ass.

Thanks Redbird. I will do that. I haven't seen a dime and this thing has been going on for over three years.

[mkfarnam]

Originally Posted by Synopsis

Thanks Redbird. I will do that. I haven't seen a dime and this thing has been going on for over three years.

Someones playing you for a fool.

[Synopsis]

Originally Posted by mkfarnam

Someones playing you for a fool.

Well, my brother is an attorney, and a successful one at that (actually, my half brother). He hasn't said a word about it, and he is usually on top of such things. Heck, maybe he's getting all of it!

[redbird4848]

Call Billy Charles Moss the Oklahoma Corporation Commission supv for Hughes County. He told us to call Wayne Stinson, who is the field representative. If you need a number, DM me.

[Synopsis]

Originally Posted by redbird4848

Call Billy Charles Moss the Oklahoma Corporation Commission supv for Hughes County. He told us to call Wayne Stinson, who is the field representative. If you need a number, DM me.

I received your DM Redbird. Thanks very much; I'll give him a call.

The interesting thing is, I also have mineral rights on the property where we live (here in DFW) and they are going to be drilling under us and are supposed to pay an initial sum of around 4K and then royalties per month. This is all on the up and up because we have a neighborhood association (not to be confused with a homeowner's association) of volunteers that are negotiating with the petroleum company for more $$$.

Hurst Neighborhood Association