Many Purcell residents who have been getting correspondence from the Oklahoma Corporation Commission may be getting some oil royalty checks in the future.
That’s the word from local …
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Many Purcell residents who have been getting correspondence from the Oklahoma Corporation Commission may be getting some oil royalty checks in the future.
That’s the word from local attorney James B. Blevins, Jr., who in the early 1980s served as a hearing officer for the commission that regulates oil and gas activities in the state.
G.W. Velotta II, another attorney with Blevins and Associates, reports royalty owners will have two or three options from which to choose when it comes time.
“Statutorily royalty owners will get 1/8 and may get another 1/16 which would be half again as long as the well produces,” Blevins said.
The attorneys said the wells almost always produce.
“It’s rare if they don’t,” Blevins said.
Lime Rock Resources will be using directional drilling when it comes time to drill.
Velotta said, “Don’t be afraid of pooling. If you are getting the correspondence in the mail they will know where to find you and send a check.”
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