My wife just received a letter from BCF Minerals offering to purchase her rights in this area (8-12N-9W) for $10,000-$15,000 per net mineral acre. This was the first offer we've received for this area, so the letter came out of the blue. What's even more surprising is that the same company simultaneously sent an offer to purchase her Grady County rights (2-9N-6W) for $6,000-$12,000 per net mineral acre. I was shocked that the offer for the Canadian County rights would come in higher than the offer for the Grady County rights, especially since I know the interest in her Grady County rights are white hot at the moment. So why the sudden interest in these Canadian County rights?
Because there are multiple reservoir levels in Canadian County and parts of it are hot as well. I have found any first offer is about half to one third of actual value.
The Woodford is about 200' thick in that part of Canadian county. Just to the north of you, eight to nine wells per section are being drilled in the Woodford. The Meramec lies on top of the Woodford and can be even more prolific. The general practice is to hold a section with one well
If you want to get up to speed on the area activity, download the most recent investor presentations for Cimarex, Chaparral, Marathon, Newfield, Devon and Continental Resources- just to name a few. They have good maps and displays of the infill drilling that is planned.
Hello M
I tried to google those presentations for Newfield in particular would you please guide me in that direction I came up with nothing.
Many thanks, E
http://ir.newfield.com/phoenix.zhtml?c=63798&p=irol-presentations
The Chaparral one has really nice maps.
My husband own mineral rights in Canadian County and gets offers monthly. We basically ignore them. Not interested in selling and if we were, first thing we do is hired a lawyer that has experience in this area....
Thanks for posting. I am also receiving similar offers from BCF. This thread has been really helpful!