Darrell, There is so much to learn about this business. The best advice I can give you would be to be patient. With the exception of the issue of a pooling order, there is no rush. And if the is an active pooling application, I’d pick up the pace a bit. The next best piece of advice I could give you; Clear your schedule and come to the OK NARO convention next week in Norman. You are local, so don’t miss the opportunity. You will learn so much in two days interacting with other mineral owners and professionals that you will walk away realizing there is way more to this than it looks on the surface.
Mr. Barnes there’s a part in a lease we signed (newbies) & it may have the post production stuff in it you were talking about… but not sure. Would I send a snapshot of that part to you or who may I ask to look at the paragraph in question to explain to us what it means and if we just messed up… nervous now what this means to us… thanks so much for all the info
Do not do the 2 year extension. Ask for 1/5th. Do not sign the lease form they sent you until you get better terms. It is probably not in your favor at all but many parts are negotiable. Friend me with the blue icon at the left if you want some coaching on the “gotchas”. Read over the six months on this county in the forum to get caught up. Read the BLOGS at the TOP and the MINERAL HELP as well.
First off, thanks to all that offer guidance on this site -
We’ve got some minerals in 1-9N-10W, 31-10N-9W, 9-9N-10W, 15-9N-10W, 13-10N-10W, and 12-10N-10W – all in Caddo County, OK. We recently got offers from Edge and Blue Ribbon - I’m wondering if any of you have minerals in the local areas that I can compare their offers to. They’ve shown particular interest in the 10N-9W and 10N-10W areas - I’ve looked at the GIS map - but couldn’t tell much from it - do any of you know, or can you direct me to where to find if something is pending in those areas?
Thanks again.
My siblings and I have received new offers for section 35 8N 11W and section 6 10N 11W. The first, for section 35, is from Swanson Oil, $400 bonus for 3 years at 3/16 royalty and a 2 year option at $800. The second, for section 6, is from Fusion for $400 an acre for a 3 year lease, 3/16 royalty and no option. I asked for 1/5 royalty but they both said they could not do that. Are these good offers or should I wait?
Bull Frog- Offers in 10N-10W have ranged from $300 3/16 to $850 3/16 recently. Don’t take any two year options and don’t take any post production charges.
Offers in 10N-9W are higher at $1000-1750 for 3/16ths. Possible Woodford wells, but it is much thinner than the really hot spots.
Thank you M Barnes for the reply. Can you tell me where I could get language for NO post production charges? The clauses I have seen have various exceptions, such as things that would enhance value, etc.
Dorothy, those are in the ball park from what I have heard. Don’t take any two year options and no post production charges. I have seen a few of those companies’ leases and they should not be signed without a WHOLE LOT of changes. Do not sign a draft payment. The time frame was ridiculously long. No options either.
Good thing!
This is a nice stratigraphic column for the area. Caddo is just west of Grady for those of you not as familiar with OK.
Woodford%20and%20strat%20col%20STACK%20%26
Caddo%20County%20Map.pdf This is the Caddo County S-T-R map with highways and cities. That well is in the upper right corner of the notch under the “eek” of Walnut Creek.
Useful to save both of these in your files.
Sec. 1 10N 9W.
Cimarex has applied to the State Corporation Commission for approval to drill a multi unit horizontal well in Sec 1 10N 9w and Sec 36 11N 9W. May 15th is the application hearing, CAUSE CD No. 201702459-T.
It’s a Woodford shale common source horizontal well. 50% of the completion interval in Sec 1, 50% in Sec 36. I and other family members have 3 year leases with Cimarex that expire in November. Sec 1 has drilling/spacing orders in place, Order no. 172284 and 558021. Sec 36 has drilling/spacing orders, order no. 138217 and 560848.
The drilling will run from the S/W 1/4 of Sec 1, north thru Sec 36, it will parallel Sec 2 and Sec 35. The drilling will start on the S/W 1/4 of Sec 1, which is where we have rights.
This area seems to be getting busy. Mapping shows this location has multi potential and layered within the SCOOP and Cana Woodford plays and includes the Mississippi Lime Common Source, the Hunton Common Source Supply and Woodford Shale Common Source Supply. This drill is proposed for the Woodford Shale Common Source.
Anyone have any other info or thoughts?
I’m guessing this is a good thing.
Hope this is the first of more wells in Sec, 1 10N 9W. Looks like a nice area, has three different stacked, potential sources to drill in.
Thank you Mr. Barnes. You provide a LOT of great info and help here. I have been saving the maps you have posted links to, very helpful. As an FYI… the law firm representing Cimarex on this is Barnes Law in Tulsa, Ron Barnes and Grayson Barnes… any relationship?
Thank you for all of your help and info to this group. I have learned a lot from you.
Nice graphic overlay. The last one I saw kind of left Caddo out of it, but all the others I have seen included the NE corner or Caddo. I have MI in four sections in the NE corner of Caddo. There’s been a few offers but nothing noteworthy yet. I’m hoping things heat up there eventually.
Hi, I have minerals in Sec 8, 9, 10 and Sec 24, 9, 10, just curious if offers are being made in this area?? I have received offers in Grady county, just nothing in Caddo. Thanks for any input! I certainly appreciate all of you who have such knowledge in this work, as I am definitely a novice, but have learned to much from you all. thanks!! Patti
No relation to the law firm that I know of…married into the name and they are all from Georgia.
Good morning, I am new to the group. We have been approached by RD Williams regarding mineral rights leasing in Caddo County, Sec. 15, 10N-10W. As we live out of state, we are not familiar with this firm, has anyone on this forum leased from them, or have any information regarding them? They’ve made a nice offer, but we would like to negotiate a few items, (depth clause & shut-in terms). Would appreciate any information that could be provided. Thank you,
RD Williams will definitely accommodate reasonable lease modifications. Don’t be shy to ask.
Thank you Mr. Wilhite, I appreciate the information.
Thank you for the information Mr. Barnes. I was just curious as the recent offer I was made appears to be on behalf of another party.
We also own mineral interests in township 9N Range 10W, E 1/2 of the SW 1/4 of section 25, in Caddo Co. there seem to be many people with the same interest, how can we find out how many people are involved?