Anyone have any information about drilling activity on this property?
Devon drilled the Sequoyia well back in 2017. Nothing new since then.
Thank you! Please forgive my confusion here…we have a property that we leased to Devon 2-15N-12W and recieve small royalties checks on but not for 11-15N-12W. Are they pooled together?
Yes, the well is a multi-section well with Sections 2 and 11. SEQUOIA 11_2-15N-12W 1X. You can see both sections in the name.
Thank you. I did not know that. We have recieved buy out offers for both properties but are only leased on the 2-15N-12W and recieving royalties off that lease. Does that make sense or should we be looking into section 11? Thank you so much!!!
You may want to check and see if you have acreage in 11. They also may just be in error sending offers to you.
Be aware that offers to buy are often coming from companies that want your current royalties and any future royalties that they think might come from future drilling. All offers that I have received in the last few years have been for less than what the minerals were actually worth to me. We have had engineering evaluations done on all our properties, so have a pretty good idea of what their fair market value is worth, so my thoughts are based on pretty good evidence.
After looking into further I think you may be right in that these may have been sent to us in error. This is very complicated stuff! Thanks for your guidance as it is super helpful.