Thank you M Barnes. This is a lot to absorb . You given me great direction and now I need to start studying. Do you know how I can find out about any company that owns mineral rights? My father worked with several other investors and they bought some land and mineral rights. They all passed away but my father had bought everyone out at the end. This property was one of those and we did not know we had anything . Thought we could see if there are anymore and get the names corrected on the mineral rights.
I need a little help. I am new to this site. I just received a lease agreement on Section 7 Township 11N Range 5W in Canadian County. They offered $400 per acre with 3 year lease and 2 year option. 3/16 Royalty. There has not been any activity for years. I own only 14.875 acres but 3 other family members own the same. This give us 59.5 acres combined. will that help when work with the land company? what is of interest here? Anybodies help would be helpful.
Thanks,
John
The best place to start is the internet to get general information, addresses, phone numbers, investor presentations to see where they are drilling, private, public, etc. If you want to friend me, we can chat offline and I can point you in some good directions. You do need to make sure your title is clear.
is there a map that shows where and on what sections there is activity? is anything going on around section 35, 11N, 9W?
OCC website has a terrible map that shows drilling if it works. There are some horizontal holes in S 36 to the east of you and S1-10N-92 directly below that. 35 is pretty quiet right now.
Here is a very interesting 3rd Quarter report from Newfield Exploration which leased my minerals in Kingfisher County this summer. It looks very promising for Canadian and Kingfisher County.
http://api.ning.com/files/JYC2mJd5NlFTrG-tBIPwWha0QHZ9OAC-a5X53XSV4…
Here’s an article talking about the geology of the Meramec Shale discovery in Blaine, Kingfisher, and Canadian County by Newfield:
http://seekingalpha.com/article/1818562-meramec-shale-oil-play-unve…
There is more then one section 36 in Canadian Co. Also need township and range ? N-? W
Oops! Section 36-14N-10W.
Also, recently Devon recently got a Increased Density in that same section? What does that mean to us? They had requested 8 additional wells in that section. Does it automatically mean more money to us? How can we tell??
Cathy, do not sell your land in that section! Go to the Cimarex investor presentation and to the Devon investor presentations and you will see why. You are in one of the sweetest spots for multiple wells for the Woodford. If they drill those extra wells, you are going to see a lot of extra money.
Aren’t you already getting checks from the first well? Here is what you will see soon. This is a similar set of sections just a couple of miles away.
First of all, if you are getting offers, they are not full value, so tread cautiously. What is your exact Section Township and Range? There are multiple section 36s. Then we can help you more. There is quite a bit of drilling in Canadian county due to the shale horizontal drilling. Are you leased or not?
Read over the last few months of the forum to get a feel for what is going on, read the MINERAL HELP at the top of the page for tips for leasing, etc., go to GARVIN co and find the part that has links for mineral owners.
No quick answers here, but some really good basic books are available on the NARO website. http://www.naro-us.org/store My favorites are Look before you Lease, How to Manage Your Oil & Gas Interest for Fun & Profit. The best is Money in the Ground, but it is a little more pricey.
Some other counties that have useful forums are Garvin, Grady and Stephens.
Also look up the recent investor presentations from Cimarex, Continental Resources, Newfield, Apache, Devon and Marathon to get a feel for what is going on.
Most of us that are mineral owners would not sell our minerals (although everything is on the table for the right price) since we know what those minerals can bring in the long run. Take your time to decide.
We’re newbies on minerals and what they are worth. Recently we have been offered fantastic offers from several different companies on our minerals in Section 36 in Canadian County. What is going on that all of a sudden they are worth so much more? How do we know what they are actually worth now due to current conditions? Is there a book we can read quickly and learn the basics? Also, when we get the offers in writing, who would be a good lawyer to go to so we know it’s legit and its reasonable? Any info. would be appreciated. We don’t know anything at this point!
Cathy, Ron is correct there are more than one section 36 in the county and if you will provide the group the complete legal description they will be glad to help you. However, my advice would be to not sell unless you are in need of money now. There are a lot of good wells in the county and if you are getting offers you are probably in a good area.
Cheryl, there is quite a bit of activity in the area. Suggest that you hold onto your minerals. I have some close by. Slide down a few comments and see my post from Tuesday about my minerals just to the northwest of you. Devon and Cimarex are drilling multiple wells in the area on many blocks, but not all of them. If you are getting multiple offers, then something is in the wind. The typical approach is to drill one well to hold the section for a couple of years and then come back and drill the multiple wells. Not saying they will, but you might want to hold off selling for a while. Go to the Cimarex investor presentations.
Thank you M Barnes. Definitely not selling was just thinking maybe they were back to infill. Never even knew about the first well til I got division orders. Was hoping to keep up on things this time.
Does anyone on this site have minerals in sec 3 township 12 north. Range 9 west? If so is something going on there? All of a sudden I have started to receive offers to purchase my minerals. We have one well there by devon since 2010. I was wondering if something else is about to happen. Any information would be appreciated. Thanks in advance.
Greetings,
I have recently had an offer to lease a interest I have in 30-14-5 W. As I do not live in the county. I have no idea what fair or not fair is for bonus there. Any information would be greatly appreciated. Thanks and regards
Looks like Chesapeake had the area pretty well leased up a few years ago, so those are starting to expire and other folks are moving in. Newfield is very active in the township to the west with many pooling orders pending, so you might want to see what those options turn out to be. They have some long two-section horizontal wells planned. Some horizontal drilling on the east side of your township, so sounds like leasing may start to pick up for you. If this is the first offer, it is likely to be low. You might want to hold off for a bit and see what develops.
Canadian: United Production Co. LLC; Shadid No. 1-23 Well; NE1/4 NE1/4 NW1/4 SE1/4 of 23-13N-05W; 1,107 barrels oil per day, 1,263,000 cu-ft gas per day; TD 7,888.
First, most people sign a 3 year lease as a matter of course. Personally, I would never sign a 5 year lease.
I’ve had offers in the general area, and for a 3-year lease, $1000 and 3/16 royalty, or $800 and 1/5 royalty are some of the offers I am hearing.
If you are patient, you may get more. Newfield has recently announced their discovery of the “STACK” play in the general area - the ability to produce from both the Meramec and the Woodford.