I'm getting a ton of interest in my interest for lease and purchase and I'm wondering if anyone else has interest in or around my sections that is seeing the same thing.
1N 1E, sections 15, 16, 21, 22, 27, 35. This tract also runs into more of my interest in Murray County in Section 2 1S 1E.
I have just leased the majority of this property to Red Sky who is brokering for Continental. What I've been told is Continental has become the operator in that area and investors are now getting very interested in purchasing the interest in the area.
Does anyone else have interest or interested in the activity in this area?
I also have mineral rights in Garvin County, Sec. 22, 1N 1E, but no one has contacted me wanting to lease it recently.
Hi Loretta,
I can give you the contact for the broker that leased the property from me in that Section.
My property in that sectioned leased just this year to Continental and now we (my family and I) have an offer for $2,600.00/net acre. I've heard about the market as low as $1,200.00 and as high as $8,000.00 per acre. Do you have any knowledge of the value and or production in that area?
The 1N-1E and 1N-1W area are part of an "island" of condensate Woodford between two uplifts with no Woodford at all. CLR is leasing up the area. There are a couple of big faults through there, so where you are with relation to the faults will depend upon your offers. The range of offers that you just listed sound like offers to buy at the $8000 end. The $1200 is more of a lease price. Not sure about the $2600. What does the offer say? The edges are getting lower offers and the middle sections are getting higher since the Woodford is thicker.
If it were me, I would not sell. First offers are usually low, just to see if an uninformed owner will sell. This "island" is likely to be developed in the near future. CLR already started drilling. Production is just starting.
Hi Barnes,
We've recently leased to CLR in that area and now we're getting purchase offers for $2,600.00/net acre in 1N-1E in sections 15,16, 21, 22, 27 and 35. Is that where that Woodford lies?
And yes, that is what I'm afraid of. I am a pretty uninformed owner, but I'm learning fast! Especially with the help of people on this forum such as yourself. I very much appreciate it!
That is where the Woodford is. Don't sell!
From the Continental Resources homepage and grab the July presentation.(attached) Slide 18. Read the rest of it, too.
See the area with the red star right above the area "35 miles to delineate" in South Garvin and almost to Murray.
That is where you are. That star is drilling right now. One of the older maps had it as condensate. We will see when the production comes in.
1731-7.1.14JulyIRPresentation.pdf (3.46 MB)
I received a lease offer from Red Sky/Continental as well as offers from private investors. The private group was offering 25% royalty +200/acre. That was for section 33, in 34 Continental offered 25% and no cash.
The Mackey 1-28H well in Garvin County initially tested at 620 Boe per day (70% oil) from 4,195 feet of completed lateral. The well had a 30-day average rate of 423 Boe per day and Continental has a 94% working interest in the well.
This is in Continental’s 2q 14 earnings report.
Did you notice there was no mention of the Havens well? I wonder if they are going to plug it.
They just finished drilling the Havens around the 4th of July. Should be fracking, ect, now. In my opinion, if all goes well it will be a better well than the Mackey as it is a XH. Horizontal wells seldom, if ever, get plugged.
Any new info in this area?