The city of El Reno recently raked in $4.8 million over the competitive bidding for the three-year lease rights to minerals on the City’s Airpark.
John R-At least four different companies are leasing in there, so if this is your first offer, it might be low and there is some competition. Ask what 1/5th and 1/4th are, as those have been filed in the area.
Getting anything for 1/4th is usually good. What you really want is 1/4 and NO DEDUCTIONS whatsoever, so “enhanced”, no nothing. The deductions are what lose royalty dollars for you.
If i read that article correctly, El Reno is leasing the mineral rights to haggard for 3 years for $15,000 and a 20% per year royalty…
Mr Richardson – Is this an oil company or a flipper? Lots of people trying to flip these rights lately – have you called the OKLA Corp Comm? They may be able to give you some info on lease prices payed recently during Pooling - 405 521 2613 – We have received $1500 / acre this year for T10N R5W – so you ?may? not be getting enough – ask for more you can always come down… A flipper is going to try and get it for as low as he can. After reading about ElReno getting 15K/A wow – I should have asked for way more – maybe – thats the problem they don’t tell you whats being offered/paid – and then there a bunch of bad actors in there also
All about the geology on the bonus/royalty rates, so location, location, location.
Use this map to locate yourself and compare to the investor presentations. The best Woodford and Mississippian are on the west side of Canadian. Southeast, not as good.
Have a hearing notice for township 12 N , section 31 , range 5 w. Not sure what they are telling me. Not a pooling. This was with another oil company once and we were receiving income off of old gas wells. Could this be that they bought there lease and have taken over? They are asking to drill a stack unit. Can anyone help me? My father had the land and sold the land and some of the mineral rights. He had some land lock land (5.002 acres) that no taxes were paid and not sure what has happened to it. What needs to be done to find out if we still have the land and mineral rights. The other area we have 21.145 mineral rights.
M Barnes,
Great Map of Canadian County – I looked around the NRCS web site, but couldn’t find those maps?? Where are they found? I wanted to get one for Grady, and McClain ----
Thanks for any help
M Barnes,
Would provide the links to Kingfisher and Blaine County Maps?
Thanks!!
John, if you have an old lease with no depth clause (which was very common back in the 70’s), then you are held by the original lease and can do nothing about it. A lot of us are in that boat. Good news is that 1/8th of a STACK well is usually nice. Better than nothing.
Yes, companies hold a lot of their information close to the vest. However, there are some good websites with information.
okcountyrecords.com is useful for many counties in searching for leases, sales, etc. Digital back to the early 90’s for many counties.
National Association of Royalty Owners (NARO) promotes the rights for mineral owners. Check them out. They hold classes, state meetings in OK every year, national meetings, etc. Quite involved in legal matters fighting for mineral owners and their rights.
Much of the information you would like to find is on the OCC website for free.
You can find your tax information to some extent on the OK tax site.
Frequently, you can read that as usually, O&G companies guard even seemingly innocuous information more fervently than the US State Department.
Hello, Pardon my cynicism or naivety in advance but is this industry dealing in intel / information control? Why is it so difficult to find information about a specific property of land when you have the coordinates in 2016? Uh, gps? The majority of messages in these threads are about finding information for mineral rights properties for owners. Most of what I’ve read are landmen trying to locate mineral rights sellers. And why can’t we get straight information about mineral rights taxation for those living out of state or internationally? Who promotes mineral right holders rights? This should be more simple, the fact that it isn’t smacks of fraud. I gave up long ago on getting appropriate information. Yes I’m a rights holder in Canadian County, OK.
To clarify, mineral rights in Oklahoma are not subject to ad valorem taxation.
Christopher, your cynicism is warranted, but I would suggest that your naivety may be the source. All of the information you specified is a matter of public record.
While I readily concede that the difficulty in accessing this information could be alleviated by constructive guidance and oversight by a governing or regulatory body, I would stop short of attributing the failure to do as malice when neglect is a far simpler and likely explanation.
Please feel free to ask questions. I am sure someone here would be happy to share their knowledge and experience.
Can someone tell me if any of the info below should be deleted from this contact? I have heard that the transportation should not be charged to the lessor.3. Lessor’s royalty shall not bear or be charged with, directly or indirectly, any cost or expenses incurred by Lessee for exploration, drilling, completing, equipping, storing, separation by mechanical means, or development of the Leased Premises; however, Lessor shall pay its proportionate share of severance and similar taxes based on production and actual costs that are the result of an third party arm’s length transaction and incurred by Lessee to transport, compress, dehydrate, treat or otherwise render the production marketable or to get the production to market from the wellhead point of production.
That “however” clause just put the post production costs right back in with no way to track them or justify them. They did not even quote the Mittelstaedt case which gives a tiny bit (or no) protection .Do not do it.
Just strike everything starting with the “however”. If you already signed, you cannot amend.