Can anyone help me with some information on the following townships ? Everyone supposedly has the best offers and fastest closing. It’s Getting overwhelming.
Brett, Could you clarify if you are talking about leasing or selling. If it is selling (which seems implied from the wording), then it would be wise to slow down and understand what you own and if you have wells coming, wells in pay status that you don’t know about, etc. “Best offers and fastest closing” are just pushy sales tactics. If you do not have to sell, then you shouldn’t because those folks are going to make a big profit off of you and your family won’t get it instead. If you do need to sell, then you really need to slow down and get legitimate offers. Those letters in the mail are often bait and switch.
There is quite a bit of horizontal drilling in those townships and the payouts can last decades. You need to read the recent investor presentations from Continental Resources, Newfield, Marathon, Alta Mesa and understand what is going on and the potential for the area. Take them with a little grain of salt as they are sales pitches as well for the big investors.
The very fact that you are getting multiple offers implies that activity is pending in your area. If you want to be more specific with sections, we can answer your questions better.
You also might want to look at the Springboard topic line that is being discussed. Use the magnifying glass at the upper right and type in that word. Some of your acreage may be in the project by Continental. If so, then really slow down and get informed before you even think about selling.
15-6n-7w, 3/16th 50 Nma
and
22–6n-5w, 3/16th,9 Nma
Your going to be a gazillionaire as it turns into the gift that keeps on giving
Go to the May 28 map posted by Don Bray in the Springboard posting. You are in the middle of that play. I sure would not sell that section unless you had a really good reason.
CLR already filed for increased density in Sec 21-6N-5W (seven wells), so that bodes fairly well for section 22. You already have a nice CLR horizontal well in 22 with room for quite a few more wells.
Consider what is best for your family, but if you don’t really need to sell, then this is going to have future potential. The offers that I have seen have been low to the probable future value.
I’m gonna have to sell some of the 50. Maybe 5-10 acres. Don’t know who to contact back
That is fine. You can certainly carve out 5-10 acres. In selling, remember that you will have to pay capital gains tax, so factor in 15-20% for that. If you have had multiple offers, then contact the top three and use the highest amount offered so far as the starting point and let them bid it up. Make sure that you do not sign a deed of sale without getting a check in hand. You would be wise to get an attorney to help you make sure you don’t accidentally sell more than you need to,
Who’s paying well there? Titan II? EK? Peak? Land run? Long point?
All promise the world but rarely ever happens
Brett, I also have a section in the SpringBoard. Section 7-6N-6W … 3/16th royalty … last offer was $26,500/acre from The Mineral Resources Company representing Continental Resources, but Echo Energy was competitive at $23,500/acre. Dakota Land is another company that offered $23,000/acre for minerals under a 3/16th lease for a section that is getting 6 additional wells for a total of 8 wells. That section is outside the SpringBoard. Should be able to Google any of these companies. They are all in Oklahoma City.
NOTE: Continental estimates the future value of the minerals they are buying to be worth 4 times their initial investment. So, if I needed the money I would be inclined to mortgage the minerals, but that is just me. I know some farmers who have done that and have repaid or are repaying the loan with the royalty payments. Just another option. Best of luck.
Hi Brett, I might be able to help you some if you could tell me what Section and how much interest (acres) you own. I also own minerals in Grady County and have been dealing with these issues for years. Thanks,
Ok I’d be glad to listen to any advice you have
Brett, are you the same fellow offering to buy some of my acres at $22K/acre? Just trying to understand if you are a buyer or a seller?
Just had a call from Landrun Minerals offering us a (huge) $10,000 per acre for our 80 Acres in 11-6-7. That would be a hard PASS!
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I would advise asking M. Barnes. To me with the future so bright in your area that is not even enough of an offer.
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You have a horizontal well just waiting to be fracked… MICHAEL 0607 11-2 1WH … 4 oil storage tanks have been set.
FYI - Two miles east in 7-6N-6W the last offer was $26,500 per net mineral acre (NMA)(3/16 royalty).
Martha - 6N7W is day and night from 6N5W - completely different animals as 6N7W and 5N7W is where the basin plunges into the front of the uplift.
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Thanks Don! How do i find out that info? OCC website? Thanks again!
What does that mean for 5 North 7 West? Our family has a substantial mineral holdings in section 21. The shallow Unit horizontal well has been a bust. We’re hopeful that there’s good retrievable production from the deeper depths including the Woodford. That lease is held by Gulfport