Hello,
I posted a few months back about mineral rights value in section 36-5N-6W. Several people helped me at that time, thank you. I have recently received offer to buy my families mineral rights, the offers range from 14K-17K per acre.
I am asking for any insight to this area as I am not aware of what may be developing. I am aware of Camino, Marathon and Gulfport having wells in this area, not sure from there.
I am also asking if this value seems right for this section.
Thank you very much.
Marathon has received permission to drill three more wells in the W2 or 25 and the W2 of 36-5N-6W. Hence your offers. Personally, I would not sell if I had pending wells on my property. The mineral buyers are trying to buy your future production and they are not going to pay full value for it because they want it for themselves or for their clients. And I have heard of higher offers on 36, so a second opinion that the offer is low. Have you already gotten into pay status on the first horizontal well that finished in late September? Should be about now.
Hello M_Barnes,
Thank you for the reply, I contacted Marathon this past week. Marathon told me the Ellis wells have not produced yet. I provided them the documents they needed and they said they would add us to pay status once they are in production. Is there a way to track the wells? I am not sure what companies we should be on pay status with. Currently Gulfport and Marathon are the only two that have our recent probate documents.
Thank you!
You can watch all the official paperwork on the wells at the OCC Well Records site. Use the surface location. http://imaging.occeweb.com/imaging/OGWellRecords.aspx
You can watch the production from the OK Tax site. Gross Production I usually start with the bottom hole location or you can put the well name in the “leasename” box.
They are both usually four-five months behind.
You need to file your legal probate documents in the correct counties where you have the mineral rights. The executor should do that for you.
Thank you. The probate documents were filed in Grady County last week. I appreciate your help.