There must be something about to happen? I had an offer last year to sell, didn’t accept. Just received a new offer which is 3X last year’s offer.
Is there somewhere to look and see if something is about to produce on these tracts? Both offers were a flat fee for the total acreage, they weren’t per nma.
Chances are if they didn’t say a price per net mineral acre, or mention how many acres you own that are included in that price, that its a bait and switch tactic the company is trying to pull. for example - " We are offering you 1,000,000 for your mineral rights!!" all the way at the bottom in little fine print (or hidden in a PSA) will read something like “this price is subject to minerals being leased at 25% and the grantor owning 100% of mineral interest. If it is found to be different, the purchase price will be proportionately reduced” and then your lucky to walk away with 50k when its all said and done. Not always the case, but we see it all the time!
19-9N-5W. Roan Resources has quite a few pending cases for that section. If you did not get them, then you need to make sure your name and address are correctly filed in the county courthouse. Also contact the attorney for the cases. You have increased density wells coming. (Hence the earlier offers to buy) ROAN RESOURCES, L.L.C. 14701 HERTZ QUAIL SPRINGS PARKWAY OKLAHOMA CITY, OK 73134 Contact Name: CHARLES L. HELM Contact Phone: 405-232-9000
36-4N-6W. Gulfport had spacing approved for this section. Their attorney is: GULFPORT MIDCON, L.L.C. 3001 QUAIL SPRINGS PARKWAY OKLAHOMA CITY, OKLAHOMA 73134 Contact Name: RICHARD A. GRIMES Contact Phone: 405-330-0725
My dad passed away in 2017, and we are just getting ancillary probate finished in Oklahoma. He owned mineral interest in Garvin County, Section 36 4N 6W, and as soon as we filed the probate, Gulfport Midcon sent my brothers and me an election to participate in the drilling of the HALE well. I am assuming we want to elect not to participate but would appreciate any advice before I make the election. Thank you, in advance!
Novice mineral owners probably should not participate in a well. Working interest is only for the extremely informed with very deep pockets and a good oil and gas attorney and a good oil & gas accountant. You could be paying bills for decades! (And getting royalties as well).
If that is a letter with multiple options on it, it is a courtesy letter and you do not have to sign it at all. Make sure you have the probate filed in Grady county since that is where the minerals are.
Six more wells are/were planned in that section. Cases are pending at the OCC.