Newspaper article THE JOURNAL RECORD

Corporation Commission

Newspaper article THE JOURNAL RECORD

Corporation Commission

Article excerpt

NOTICE IS HEREBY GIVEN that the Applicant in this cause is requesting the following special relief:

1. An Order clarifying Section 12.3 of the Plan of Unitization approved pursuant to Order No. 119269 so as to unambiguously provide the method by which the unit operator is to be designated upon resignation or removal of a unit operator for the Lincoln North Unit covering Sections 27, 28, 29, 30, 31, 32, 33 and the W/2 of Section 34, Township 18 North, Range 5 West; and the E/2 NE/4 and S/2 of Section 25, the SE/4 of Section 26 and all of Sections 34, 35 and 36, Township 18 North, Range 6 West; and Lots 3 and 4 and the S/2 NW/4 and the SW/4 of Section 3 and all of Sections 4, 5 and 6, Township 17 North, Range 5 West; and all of Sections 1, 2, 3, 10 and 11 and the W/2 and W/2 SE/4 of Section 12 and the W/2 NE/4 and W/2 SE/4 and W/2 of Section 13 and the N/2 and SW/4 and N/2 SE/4 of Section 14 and the E/2 of Section 15, Township 17 North, Range 6 West, all in Kingfisher County, Oklahoma.

2. An Order removing GAW Oil Company as operator of the Lincoln North Unit, and designating either Studley Resources Corporation or Alta Mesa Resources, Inc. as unit operator; or, in the alternative, an Order requiring a new election of unit operator pursuant to the Plan of Unitization.

3. An Order finding that Briscoe Operating Company and GAW Oil Company have breached the fiduciary duties owed by a unit operator desig- nated pursuant to 52 O.S. 287.1, et seq.

4. An Order amending Order No.

119269, and the Plan of Unitization approved thereby and/or the accounting procedure affixed thereto, to add the following:

(a) A provision establishing a fixed unit overhead of $5,000.00 per month, with a 2% annual escalation not to ultimately exceed $8,000.00 per month; (b) Gas balancing provisions, includ- ing provision for suspension of delive- ries and nominations; (c) A provision requiring Operating Committee approval for expenditures exceeding $5,000. …

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