A pooling notice: when a deadline comes with it
A pooling notice tells you that a company has asked to combine your interest into a drilling unit, or that a unit has been formed. In states that use compulsory pooling, it can come with a hearing date and a short window to choose among options.
What it does
Compulsory pooling, also called forced or statutory pooling, lets a state regulator include owners who have not agreed. The options often include joining the well and paying your share of costs, taking a bonus and royalty much like a lease, or letting the company recover costs from your share before you are paid.
If you miss the window, a default option is usually picked for you. Find the hearing date, the response deadline and where to send an election before anything else.
Some notices are simpler: a recorded unit designation under a lease you already signed, sent for your information. Those usually carry no deadline, but they show which well and unit your royalty will come from.
What we mark on a review sheet
Normal
- A unit plat or legal description, the well name and the operator.
- Dates: the hearing, the response deadline, and where to respond.
Missing
- Your interest in the unit and how it was figured.
- The options and what each one pays.
Ask about
- A deadline that is days away.
- Options you do not understand, or a default you did not choose.
Questions to ask the company
- What is the response deadline, and where and how do I send my election?
- What interest do you show for me in this unit, and how did you figure it?
- Would you offer a lease instead, and on what terms?
Common questions
What is forced pooling?
In states that allow it, a regulator can include owners who have not agreed in a drilling unit. Owners usually choose among options set in the order, by a deadline.
What happens if I ignore a pooling notice?
Usually a default option is chosen for you. Read the response deadline first, and send the notice to us right away if the date is close.
Send it before you sign
Tell us what you got and what you want to know. We reply by email and tell you how to send the pages. A landman reads them and sends back a one-page review sheet.
Email hello@landman.review with what you got and your question, or call (307) 263-8515.