I just think it is strange that I can’t get a call back when it is regarding the clarification of the ending of a lease - when they are the ones who told me it was still listed as active and they weren’t sure what that meant.
24 11N 21W. No well. During the three year lease, there was a planned well called the Route 66. Planned but never drilled. Then they decided to drill a well called the Mouse. They did a Pooling on that one and then didn’t go through with it. That’s all that I know of.
How can a lease be expired and still listed as active? I’ve been trying to get Chesapeake to call me back to clarify, but you know how that goes.
There is no well drilled or being drilled ? Where is it ?
I found three leases with the name Leebon to Echo Energy dated 3/31/10 signed 4/1/10. A permit that expired 3/23/11 , a pooling dated 12/28/11 good for one year. In it they were ordered to offer $2500 for 1/8th,2250 for 3/16 th,2000 for a 1/5th,or 750 for 1/4th . Then they got another pooling dated 12/28/11 in in they were ordered to offer 3500 for 1/8th,3000 for 3/16th ,2750 for 1/5th or 750 for 1/4th, it has expired. Looks like you are free to do what you want to me. Always try to get email address if you can when you talk to them.
Linda,
I wouldn’t despair just yet. We leased some minerals in Beckham last week, and have been getting frequent offers to buy in other sections.
Linda You will lease don’t worry or rush, they have some great wells around you. You are in 24-11n-21w ? How many acres ? I’ll get you some info .
I see why you want to get a lease signed . Did Chesapeake say anything about filing a release ? Do you have a fax ? I’ll see what I can find.
Linda Chesapeake still holds a lot of leases but they have issues that has slowed them down. Apache Corp. has taken the lead 11n-21w and even made some deals with Chke. in some sections. Apache is doing the filings for any new wells and picking up leases. Shepherd Royalty is also leasing in 11n-21w . I found Pooling Orders that ordered to offer $3,000 to 3500 for 1/8th, 2500 to 3000 for 3/16th , 1750 to 2500 for 1/5th , or 500 to 750 for 1/4th . I also found some wells with good production #s and some sections that had 2 well in 11n-21w . Apache is also active in 11n-20w which is next to you. Let me know what you need. If you care to call I can send you my # .
I’ll get back to you with some info. soon.
K J W, we are in Sec’s 21, 25, 26, 28, 31, & 33-11N-25W. Just today I’m receiving several offers at $600, 3/16ths for all of them. Something’s afoot…I’m thinking we might sit on this for a bit, see what’s up. Does anyone have any insider info on this area? What terms should we hold out for?
Turner O&G looking to lease from us in 11N-25W. Sounding like perhaps their $600, 3yr, 3/16th is low-ball. Love this forum! (Linda, say hi to your son and new daughter-in-law from the Putnam’s!)
Mr. Putnam,
Are you talking Sec. 24-11N-25W in Beckham? If so, we leased some minerals out in that same area (to a different company) for more than $600 at the end of 2011; I don’t know if the situation has drastically changed in the interim. For what it’s worth, we just leased some minerals to Turner in a (I think) less desirable area in Beckham on the same terms, same amount as the lease that you mentioned they’re offering to you.
There have been about 45 filings with O.C.C. for spacing or location exceptions in 11n-25w in 2013
B.D.H., we’re now looking at $825/ac, 4yr, 3/16, no extension…and we’re still negotiating…my first bidding war.
Ron, we are in Sec’s 21, 25, 26, 28, 31, & 33-11N-25W…only Sec 21 & 25 are not HBP, 4.00 and 0.666 nma respectively.
I have a friend in the Oil and Gas business that I have been talking to. His company is not actively leasing in Beckham or Roger Mills counties, but I did ask him what he thought the going bonus was for minerals in this area. He told me that it is higher in certain Sections that a company knows it is probably going to drill a well in vs. Sections that they may be interested in after they get well data. He told me that because the market is down for natural gas and companies are really only actively seeking oil plays, that bonuses are down from what they have been in these areas in the past. It is not as appealing to companies because they can really only make money in selling oil, so half of the appeal is gone. He did say that $500-$600/acre bonus and 3/16 royalty is pretty fair and if you can get toward the top end of that I would be doing pretty good. Anyways, I will give it some thought. I have talked to a couple people that own minerals in the North half of Township 11N-25W who said they leased for 3 years, @ $600/acre bonus, with a 2 year option @ $700/acre bonus and 3/16 royalty, which is on par with what my friend told me. If anybody has any other input on this it would be greatly appreciated. Thanks!
Kershaw & D.B.H. Is the interest you are trying to lease in 11n-25w ? Want sections and how many acres ?
http://imaging.occeweb.com/AP/Orders/030415F0.pdf Here is a pooling on 21. And I found a well in 19 that the completion test showed 923 BOD & 5233 MCFD . Look at the bonus offers in the above pooling . Do you ever take a working interest ?
Wow! Shouldn’t we have received this and been listed on the Exhibit as it covers the entire section?? Can you tell me how you found this order? I’m somewhat familiar with the Corporation Commission’s website but I could not have found this unless I found the order # listed on a specific well’s permits, etc. Wow. As for participating, the family member this was inherited from did a few times, said it usually turned out to be more work than it was worth.