Is anyone aware of activity in Grady 13-4N-6W? We are getting an offer to purchase a leasehold interest, and I don’t know how to think about pricing. Thank you for any assistance!!
Are you getting royalties on the Cleburne horizontal well? It is possible that someone knows about future infill wells.
Most offers to buy are before the bit when “somebody knows something”. We usually just wait and see what develops.
I am receiving an offer from Grayton Energy for section 16-7N-8W. Is this related? Seems to be an inflated offer? Thanks for any help
I have received an offer from Grayton Energy on 16-7N-8W. It seems inflated but have not lived in the area for a while. Also for 2 acres only. Receiving royalty on it. Need some help.
Thanks M_Barnes. No royalties from the Cleburne well. The current offer is $1000 per net mineral acre delivering 80% NRI for a 3-year term with a 2-year option to extend. It would be better to negotiate something with ongoing royalties, no?
Tamara, Oops, I was off on the section. There are quite a few horizontal wells named DALE in 12&13-4N-6W. You should be getting paid on them if you are a mineral owner. Contact Gulfport Energy Division Order department. They may be holding funds for you or a relative.
Is this offer for a new reservoir? There are quite a few wells there already. I never take a two-year option. And I always ask for 1f/4 royalty. We never use the draft lease template that they send. Suggest you get a good oil and gas attorney to review any lease and make the necessary changes.
You should have ongoing royalties already from the current wells.
Tin, horizontals may be moving your direction. you might want to just wait and see what develops.
Thank you @M_Barnes!! Recommendations for an O&G attorney in OK would be welcome if you have any. We haven’t used anyone there in many many years.
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