Christine-I haven't decided to lease that anyway, but if I do, I don't care enough about the extension to argue much. What do you think??
-Curt
Received a letter with an offer to lease in section 25-8N-1W for $250 & 3/16 for 3 years.
Does anyone know if this is pretty much the going rate for that area? Are they actually drilling there yet?
Curt Bryan - if you are considering a new lease, don't sign one with an extension. You may not care about it today, but in 3 years it could be very important. I had a lease that automatically renewed last year because of an extension I had agreed to. If I had not had the extension, I could have signed a new lease for 3 times the amount of the first one. You never know what will happen in the future. Good Luck!
Thx Vickie-Sounds like good advice !!
S14 T7N R1E Been offered $500 to sell rights. What seems to be the going rate? Will appreciate any info you'll share! I have no idea what is fair.
Sounds like a very low purchase offer, more like a lease offer.
Thanks for the response, Mr. Bryan. Some friends had remarked that people were getting paid $2000 or $3000 per to sell their rights, but when I asked if that was in Cleveland County, the answer was no. It was somewhere else. So, I just disregarded it as being a possibility. I'm really not interested in selling, especially at $500. I own only a very small interest - and I'm very curious in waiting/seeing what comes of the drilling activities. Not to imply that I don't want to know any news about offers to sell, though! I do wanna know about anything anybody has heard about selling prices in Cleveland County. Thanks again for your input. I do appreciate it.
Those purchase offers vary wildly, even in Grady County, where most lease offers are now over that $500 mark, I think. Cleveland County is picking up a little in certain areas...I have a lease offer in Norman on the west side for that much, and my wife has recently gotten letters regarding her holdings in the SE corner of the county. Nothing high enough to consider yet, tho.
Hang in there until you can't resist is my advice...for what it's worth.
You said:
Hang in there until you can't resist is my advice...for what it's worth.
Great advice! Thanks.
FYI-Wife just got an offer of $250+3/16, with no mention of an extension in the letter, for a holding in 25-6N-1E.
Curt, my brother said a neighbor in that section with 2 or 3 acres was just offered $350 an acre. I'll find out more details in the next day or so. Earlier we signed for 300.
Which company are they/you getting offers from?
Thanks, Harold, I don't think she will be leasing right away.
Not sure, Donna, it was just a landman letter.
Thanks. I signed with a land man representing Silver Creek.
Joe S...thanks for the info in your discussion above !!
Hi, my sister and I have recently received offers from United to lease sec. 23, 6N1E. Is there any activity going on in that area to cause them to want to lease? Thanks!
My name is Troy Curtis, a landman, with Concho Land Company in Freedom, OK as well as Oklahoma City. I thought while times are slower, I would offer to help with any questions people may have in general and post my email, [email protected] for any and all questions. I also wanted to offer our services for individuals in need of mineral research or help with production related concerns in all Oklahoma Counties and the surrounding states.
I own a few acres mineral interest in Section 3, T6N, R1W. I had actually leased this back in 2012 for a piddling $50 an acre. Now I’ve been contacted to extend for 3 more years at the same $50 and 3/16. Seems ridiculously low.
Anybody know what the production is at Section 9 6N 1W. I know they hit a pretty good well there very recently. I think it is the south half.