Just got an offer for $3000 and acre to purchase rights already leased at 1/5th until 2024 in Section 03, 01S, 02W. It’s been leased for a few month now and now an offer to sell. What is going around this area? Seems the offer is quite low.
I’m not an expert, but I own some tracks in that vicinity and have been offered almost 3x that. If you don’t need to sell…don’t. I am not selling.
There is a Woodford horizontal play developing there. The question is where the edge of the Arbuckle uplift is with respect to the Woodford.
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Have some family members with rights in the same section that are interested in selling. If you don’t mind me asking, how close are you and who was offering?
Are there any permits or anything filed with the OCC that indicate possible drilling in the area? Maybe in southern Garvin County near our Section?
In your township 1S-2W, Echo (probably really Continental) has cases sections 29, 30, 31 and 32. In 1S-2W, 339 leases were filed in the last 12 months. Continental, Echo and Tiger Oil company were the main lessee.
In the township to the north, 1N-2W,
Rimrock had cases filed in sections 1, 2, 3, 4
Triad had cases in 4.
Pay Dirt had cases in 6
Cimarex had cases in 7, 8 and 18
Citation had cases in 18
Continental has brand new cases in sections 23 and 24. They are going for the Woodford.
1171 leases were filed in the last 12 months. Continental the main lessee, with Triad Energy, Rimrock, MK & P and a few others.
You can look up the permits on the OCC wellrecords site. Test