The 6N 11W part of Caddo is in a different play than 8N-13W. It is along the major Cement Field structural trend. Also lease prices are mostly relevant to the time frame in which they are offered because they relate to the objective reservoir, structure, price of hydrocarbons (oil/gas), etc. Glad you received the $1200. SCOOP is farther to the east and south in Stephens, Garvin and Grady.
Guys,
My family has received an offer in the mail from Turner for $850 per acre and 3/16th. Any activity around this area? Is this a market offer? Any advice that could be given would be greatly appreciated as I am CLUELESS when it comes to this industry.
Thanks again…David
Looks like Turner is definitely leasing in that section which has been pretty quiet for years. If this is your first offer, it is low. They always start that way to see who will bite. Don’t. Turner is leasing for someone else. I am hazarding a guess that it is Marathon since they have picked up over 200 in that general area over the last few months. You might want to go the Marathon website and get their investor presentation from today. They have a great map on slide 55 or so. You can see where they are picking up acreage.
If this is your very first offer ever, then read the Caddo forum, the Grady, Stephens and Garvin forums for the last six months to get up to speed. It is a wild ride and you need to get informed. Go to the top of the page here and read the MINERAL HELP tips for leasing. Many of your questions will be answered in the tips and links that folks have posted. Then you will feel more confident. Don’t use their lease form without knowing which clauses you want to change. We can help you with that. Read a little first though. I have tracts fairly close to you, so will keep my eyes open for activity as well. I think the Granite Wash is about to get some drilling. You want to focus on the reading about the SCOOP. Also go to the Newfield and Continental Resources most recent presentations this week.
Thanks a ton. I really appreciate it.
Sorry meant to add that it is in township 7N Range 9W section 30
I have seen a range of $500 (low) to $800 (best) with 3/16. I heard through the grapevine that Turner had leased about 4000 acres at $750/ac. Guessing for CLR or MRO. That gives you a range.
Have mineral rights 16. 11n. 13 w. caddo county ok any activity or leasing in this area
Ray, Drilling in Sec 13 and 31 in 2013. Nothing in 16.
Leasing in 15 by Schonwald Land and Todco in the last two years, nothing in 16. You might call them and see if they are interested.
It’s possible that Turner is leasing for Continental, they have been doing a lot of leases in 8n 9w for CLR.
We have been offered 850 per acre on a 3/16th. Would rather have a 1/4. In your opinion, what should I target bonus dollars if I am targeting the higher royalty?
David, if you get 1/4, you will probably not get any bonus, but you could try. I have only seen one recently in another county and that was where 3/16 was running at $1850-2000/ac and 1/4 got $250. Very rare to get any bonus with 1/4, so start a trend!
Any feedback on the best leases 8n 9w that are being offered?
Anything on Section 7-5N-10W?
Mary, nothing at all in a long time.
Has anyone heard of activity in Caddo County, Sec. 14, 6N, 13W or in Sec. 16, 6N, 12W? The section 16 is under lease til March, 2015, but have not heard of any drilling or activity. Section 14 is not leased, but interested in knowing any activity. New to this forum and trying to navigate site.
Patricia,
I don’t see anything in or in the surrounding sections for either location.
I just received a ‘package’ from Keith Walker wanting an extension of a lease for 3 years @ $500 per acre in Sec 14:SW/4 T-11N, R-13w
Any clue if this is a ballpark or low offer? Because it is an extension to a lease that is about to expire, what are my options if any? Thanks.
Lynn, we were just offered 1000 per acre and 1/5 royalty on a four year lease near you. Hope that helps.
Turner was the name of the group, but they are leasing for Continental. As far as the lease extension versus a new lease, I will leave that up to someone smarter than me in this space.
Appreciate that David. Was it from Walker? Do I legally have to go with Walker because it is an extension? I don’t remember doing one of those before, or I blindly went with it.