I have asked a few questions on this forum and have basically decided to sit on a few acres in 6-1s-4w for the past few months because of the low rates I was being offered. Today, the land man I was talking to contacted me and said that the offer for bonus went from $500/ac to $750/acre. Have also been watching all of these recent drilling approvals, some of which are near the area that I have. Was just wondering if anyone else has had any experience recently in this area and what kind of offers you have been getting. Or if anyone knows about anything else such as pooling or whatever in this area? Trying to decide if I should just take the lease or wait longer?
Joe,
Who is offering now?
You might remember that I have been watching that section. We have a lease that will be expiring soon in section 6-1S-4W. I’m not sure what activity you are seeing. There has not been anything in the surrounding sections. It may be further than what will have much impact on this section. It is hard to say what is going on.
Joe, Here is my guess:
Sandridge leased up control starting in April 2010. Most of what they leased expires in August of this year. Since then Sandridge, CHK, TS Dudley, Continental have filled in a bit.
With nothing being filed, I don’t think there is a chance Sandridge is going to do anything with it. CHK has pretty much abandoned their applications and permits for horizontal wells in Stephens Co the last year.
I think we may see an increase in activity, but it won’t be any time soon. Either you will see a bunch of lease that tries to tie everything up long term, or we might see a rush by a top 5 company to pick up expiring Sandridge leases. If the latter is the case, we might see drilling in a couple of years. I’m better our lease expires in June of this year. By the way, they were leasing for about $150 per acre in 2010 if I remember correctly.
Also I took a look and you happen to be in the same ¼ we are. Dug a bit deeper. If my records are correct, your Great-Great-Great-Grandmother and my Great-Grandfather were brother and sister. Her name was Beula and had a daughter named Virginia who married a Joseph Pell Sr.
Rick
Hi Rick,
Thanks again for more info. Looked again at the list of stuff and ya, never mind on that seems to be a township or two away (farther than I thought). This is what I got back from Continental (through Jackfork) "No one except CLR has bought a lease in this section since a year ago. And Chesapeake, who actually owns SandRidge’s interest now, is planning on selling all of their acreage in this section and everywhere else down here. "
So....maybe from these things I will see if I can do a 2 yr lease and hope they are offering better later?
I don't have a whole lot of family history info myself, in fact I was kind of wondering how my family has had these rights for so long or where they came from. I did however look at my family bible and my grandma was Virginia, she actually married Joseph Jr. Beula Couey (Kirkpatrick) was my Great Grandma and it looks like she had four siblings (one of which must be your great grandfather- I see an Isaac, Andy, Cody or Virgil ).
Small world!
The closest two Horizontal wells I know about that were targeting the Woodford were the Bleer 15-1-4 2H in 15-1N-4W and the Thompson 5-1-3 1H in 5-1S-3W. CHK went as far as completing the pad and base with conductor pipe and rat hole on the Bleer. On the Thompson they completed the pad. They both set forever and CHK dismissed the Location exceptions. Both had pooling orders completed.
CHK does or did have rights for sale near there. I still don’t see anything happening for a while. I’m not sure if he is just trying to pressure you to lease or what. It could go either way.
This genealogy file I have does have quite a few holes in it. That removes a generation and makes the timelines fall into place a bit better. Isaac was my great grandfather.
I’ll send you a friend request so I can get your email. I’ll let you have a copy of this file with a bunch of Kirkpatricks in it.
Well thank you for the information. Sounds like its a guessing game for me!
Cool on the genealogy, I will share anything that I may have with you too!
I'm a bit south of you in 13 - 3S - 4W. Continental Resources just renewed my lease which they obtained for $75 dollars for a three year lease in 2009 and the contract allowed them to renew it for $100 for three years. Since signing, I have received an offer for $1000 per acre for the mineral rights and just received another call from a Jack Fork person who said that he cannot purchase but "knows" some people who can and he would talk with them. I am inclined to accept the $1000 per acre offer, regarding that as a sure thing rather than a loto ticket for maybe much more, much later.....at least my heirs may get more.....or else nothing. Any ideas or advice would be appreciated. Wade Johnsn