watch the recording!
Recorded: May 7, 2019
The Permian basin in New Mexico has approximately 5,400 square miles of Federal, 3,800 square miles of State, and 3,600 square miles of Private mineral acreage presenting regulatory challenges for E&P Operators wishing to develop and produce in the state. One of the most important regulatory conditions Operators must address is the concept of “forced pooling”, whereby an Operator who doesn’t have voluntary agreements with all interest holders in a particular area can still legally combine those interests, without the interest holder’s consent, for the purpose of drilling a well.
At this first of many new Oseberg information webinars, we will review how Compulsory Pooling works in New Mexico, including:
- Understanding the timing and regulatory flow of Pooling Applications and Orders within the lifecycle of a new well.
- How costs are assigned and non-consent penalties are determined in this state and how these charges reflect the relative cost of operations.
- Reviewing the concept of Respondents and how they can provide detailed WI, MI and ORRI contact information in Pooled areas.
- Learning the significance of Federal & State Communitization Agreements and the goodies that lie within.
During the New Mexico webinar series, we will provide examples of how using regulatory filings can help you:
- Predict drilling activity well ahead (5+ months!) of a drilling permit.
- Estimate relative cost of operations for competitors.
- Easily map & Who Has What Where?" re: operator leasehold.
- Look for Pughed-out acreage opportunities in Fee lease areas.
- View horizontal well directions using 'well stick' maps