I am working on leasing my mineral rights in McClain Co. OK.(Sec.30 8N 4W). Looking for your thoughts to help me deal with the parties looking to lease my mineral rights. I know that the lease language is most important along with dealing with a fair and good company. I believe I have covered those bases. My question is that I know that Sec. 28 & 29, 9N 4W went through pooling in March. Outcome was $5000 with 3/16, $4850 with 1/5 and $4000 with 1/4…can I assume that these values would be the “ballpark” value for Sec.30 8N 4W? I know there are many very informed people on this site…very interested in your thoughts on this subject. Thanks for taking the time to read my question. Rick B.
The pooling rates in the last year for the contiguous sections around you are a good ballpark for what you should ask for. If product prices have dropped considerably or risen, that can change the ranges.
Rick: No, Sections 28 & 29 of 9N-4W are not contiguous to Section 30-8N-4W, so those values don’t count.
However, the most recent pooling was by Newfield in Section 20-8N-4W on 2/26/19. The terms were $4500 & 1/8; $4100 & 3/16; $4000 & 1/5 or $500 & 1/4.
Newfield’s well to the north (June 1-19) and to the west Eisenhour !-25) are not very good wells so that may have some bearing on prices being offered in Section 30.
Good Luck.
1 Like
If it’s helpful, I just got a call yesterday offering $5500/acre to purchase my Section 30 9N 4W lease interests. As the landman knew, the acreage is yet leased (and held by meager production) with a 1/8 royalty. Good luck, all!
Lots of pending horizontal drilling in the area. Buyers are trying to buy up low performing wells and hope that folks don’t know about the new wells. Camino has a horizontal well planned for sec. 30-9N-4W. That is six miles away from the 30-8N-4W from the topic line above.
Andy- that’s low for your area, even on a 1/8th royalty. I sold some last year for more in a section a couple miles from yours.
Todd,
That was so sell his leasehold in the section.
Thanks – I’m not at all interested in selling at that price. I’m optimistic that Camino will spud their first well by 10/18/2019, as there’s a pooling order dated one year earlier. And since it’s much more cost-efficient to drill and frac more than one well at a time, I’m hoping that maybe it won’t be just the one horizontal well. Fingers crossed!
Andrew100: No sure I understand what you are trying to say?
I recently leased in 30-8-4 @ $5,000/nma with 1/5 along with and a very good Exhibit A.
What is the link to find the pooling terms on the OCC website? We have some acreage around Blanchard we are getting contacted on.
OCC OAP website. OAP
You need to know the case numbers. That part of the OCC was under construction since it is so difficult to get it to work. What section, township and range are you interested in?
Our specific interest is in S31, T8N, R4W. We have a marginal well on it but I was curious to see what the pooling orders compensation was for the adjacent properties that have wells on them, and if anything is planned for our interest.
No current cases for your section at the moment, but that doesn’t mean something is not going on in the background and not posted yet. There are no pooling cases in the last 365 days in the eight contiguous sections around you. Those are the ones that count. However, if you go back two years, you can get a trend. the cases are 201801660, 201801658, 201706356, 210800777, 201706847. Remember that product prices have dropped in the last few months. OAP
Can you tell me about Section 25-8N-4W and Section 36-8N-4W. Is there a pooling?
If there is a pooling on your section, you will get a notice from the OCC IF your name is properly filed in the county courthouse and affiliated with the mineral acreage.
Yes, 28 had a pooling 201901796. It was ordered on 7/11/19 with a correction on 7/29/19. You can look it up on the OCC OAP site. OAP
If you did not answer the pooling in the 20 day time frame, they assigned you the lowest royalty/highest bonus pair.
36 had a pooling but it was dismissed.