I believe some of you will find this of interest regarding
Lackey 2-17/ 20
Section 20, T1N, R9E, Coal County, Oklahoma
I have a lease offer for our 5 NMA in Coal Co. 1-1N-8E. This is a negotiation of a new lease by Anevay Resources, representing Canyon Creek, after the old lease (also Canyon Creek) expired in October. They’re offering $450 at 1/8, or $325 at 3/16, 3 years. They’ve already agreed to a favorable Exhibit A, as negotiated on another lease last year.
Anyone have data on lease bonuses in this area, or other relevant information?
Rudy
Rudy, ask for 1/5th pricing. Make sure you have a NO DEDUCTIONS whatsover clause, no “however…”
I just dealt with Anevay and they were very accommodating to let my accountant hold my signed lease. I was paid in 10 business days with a handover of lease for check. I sent Anevay a scan of my signed lease with “COPY DO NOT FILE” written on every page and especially across the signature so no one could file it until I got paid. I do not sign Orders of Payment if at all possible.
I leased to Canyon Creek a couple years ago so my terms probably aren’t relevant. I leased in 1N 8E, sections 14 & 15 for 22% and $450/acre.
I do want to warn you, we went round and round over their Order of Payment. It was AWFUL and I refused to sign it. 60 business days and I was locked in the lease for that period of time, but they were not. They could surrender the lease and OOP at any time. After a long time battling over the OOP they finally sent me a check.
Early on I did get a favorable Addendum approved by them and a couple clauses scratched out of their lease form.
Martha, I’m glad you mentioned the NO DEDUCTIONS. I got that but neglected to put it in my message. I dealt with Greenway, another of Canyon Creek’s land companies. It was a royal hassle.
I hope they don’t treat royalty owners like their lease hound treated me.
Let me start over I’m new to this any help appreciated.
Lease offer from Canyon Creek on a multi unit horizontal drilling township 1 south range 9 east sections 36,25 and 24. Offering two lease options $350.00 for 1/8 royalty or $300.00 or 3/16th. Any advice appreciated 30 days to respond or court date is set Feb 26th I’m new at this and was told by land man that price was set at the court date but then the next day received lease offer from him.
Martha: Regarding 1-1N-8E: I couldn’t get 1/5, but found a year-old pooling order in the next township, and they matched it, saying this was absolutely their top price. Got $450/NMA @ 3/16.
Need the township and range. Many 36, 25, 24s.
Leased down here 6 months ago for $200/acre & 3/16ths. Really happy to see them drilling. Need more of it.
Quanah was leasing at 1/5 in sec 23 in late 2017. But that is not contiguous to you.
Received a rqst to lease in 28-1S-11E to Quanah. $300 acre 3/16 royalty. This is the first offer but the leasing agent (with Paramount Services) said this is the most they have been offering. Land agent said they are planing to drill 4- 5 wells. I read some other info on Quanah in another thread.
Not sure if this is a good offer. Sounds a little low and I would like 1/5 royalty but agent said they are not offering. He has agreed to the four clauses that everyone says to include.
I have had recent inquiry to lease in Section 3-1N-9E Coal County to drill horizontal well in the Mississippi, Woodford, Hunton, Sylvan. Anyone have advise on the lease bonus being paid?
Also have someone interested in 32-2N-9E.
Information appreciated
Coal County Post for Mineral Rights Forum
I have the following for Coal County:
S29 T1N R9E S2 NE
S29 T1N R9E SE NW
S20 T1N R9E NW SW
S20 T1N R9E N2 SW SW
Cinco Energy Land Services, LLC expressed interest in Section 29 as recently as June 26, 2015. Bearcat Land, Inc. expressed interest in August of 2006. I did not lease or sell in either case. I am in the middle of recording my father’s interest in those two properties, as well as updating the address of the grantee of my mother’s interest. I have moved twice since the Bearcat offer so I am updating my address. I have no idea if any drilling occurred due to the moves and rejection of their offers. I know Bearcat usually buys/ leases for Continental but I am not sure about Cinco. I noted some posts on both sections in this thread.
Stephen P. Matthews: Thanks for quick reply. I leased to Cinco in 2015 the same descriptions you cited. They were leasing for Bravo Arkoma (918) 894-4440. In section 20, Arkoma produced a well, the Lackey 2-17/20H. I am receiving checks.
You were probably forced pooled. You may have some funds being held for you by the Oklahoma Treasurer's office as as unclaimed property.
Thank you Judy Phillips. I have had a lot of that, having minerals in 12 S OK counties, all of which seem to be lively. I moved back home to Seminole 2 1/2 years ago. My address changes and that of my wife, who also has minerals in the same counties, had not kept up with our interests. She had COPD and it was a full-time job meeting her needs. Unfortunately, she passed September 24. I have to get this all in order so that I can pass it to her daughter who knows nothing about this. I appreciate your information. I will contact Bravo and the Treasurer.
sm
Please accept my condolences, Stephen.
I suggest you or your daughter join the National Assn. of Royalty Owners in Tulsa. Along with national membership you can choose NARO Oklahoma assn. also. This is the best way I know to learn about leasing and managing your minerals.
Thank you Ann Whitchurch. That sounds like a good idea.
Judy,
Section 4-1N-9E was pooled a year ago for $600 3/16, $450 1/5 or $0 1/4.
Sec 26-2N-9E was pooled in mid 2017 for $112.50 3/16 Miss play. That gives you a range. Someone may more current data.
M. Barnes: Thanks for the info.
M. Barnes: A while back on the Hughes County forum page, you shared your "Exhibit A" page which I cannot locate. Would you mind sharing again?