We are getting lease offers in 33-14N-10E, 1-14N-9E, 12-14N-9E, 17-14N-8E, and 34-16N-8E. Everyone wants a 3yr option, a couple say they can go as low as 2yr but will not lease w/out extension. I've been told there is a big industry player who wants to develop a lot in Creek Co but it's a daunting task because of the rampant title mess in this county. Supposedly a major corporate player based in OKC is the lead on this but they know they are at least 5 years out at this point. Anyone else hearing anything similar?
M Barnes, you said " Spacing is different, etc. There are some particular clauses that you need to be very certain to keep an eye on," regarding Stephens, Garvin, and Grady Counties. Would you mind expanding on that?
Christine, the spacing for vertical wells is different than the spacing for horizontal wells. Horizontal wells are almost always 640 ac. Even if they drill across two sections, they pay the percentages of the perfs in each section.
You need to watch the post production clauses, depth clause, Pugh clause, shut-in royalty clause and do not warrant title, do not take a top lease clause. I personally never lease for more than three years. No extension-ever. You actually do not have to lease. In the long run, whomever they do not lease will get force pooled. I prefer that option for horizontal wells. You are offered the "best" price in the nine section area for your rights. You have four offers, 15-20 days to pick, or they assign you the worst one for you and the best one for them. If you need more info, friend me and I can walk you through it. If it is going to take five years to get this area leased, then I would wait a few years. The first offers are always low in my experience. Do not let them rush you. Sometimes it takes two years to negotiate a lease.
Creek is just starting to heat up in activity. I tell people to read the Stephens, Grady and Garvin forums for about the last six months to a year because you will get many of your questions answered, pick up tips and tricks, web links, things to watch out for, etc. The Grady forum has a New Members or something like that in the Discussion section right above the comment wall. Good articles that you might want to bookmark. Also at the top of this forum is the MINERAL HELP. See the section on Leasing-what not to do
There appears to be an operating well on land in Creek County where I own mineral rights. I have attempted to verify ownership with the Creek County Clerk's Office but was referred to the Oklahoma State Corporation Commission, which referred me back to the clerk. I live in Washington State and can't physically go to search the records myself. Can someone recommend a reliable person?
Meghan Do you have section, township, and range ?-?n-?e
Ron, Yes, it's Sec. 12, Township 17N, Range 10E, the North Half of the NE Qtr.
Out for a drive this evening with the wife and drove by SWSec 2, 14N, 7E, which was recently pooled by Emerald Oil. They are in the process of clearing the pad. Maybe they are going to move over from having just completed a well a few miles east of there. On the way out there, we also passed by a pad with rock already down at NW NW Sec.30, 15N, 7E. Looks like Creek County is getting some attention.
Is there a website from the state that is similar to the TexasRRC site where a mineral owner can look on a map at their holdings and check activity in the area?
Yes and no….
There is a horrible map on the OCC website, but your holdings won't be on it, but wells will be and it only works on alternate Tuesdays when the moon is full…..and it hates Macs. North Dakota on the other hand has great activity maps. OK is not on the ball yet.
DrillingInfo.com is a paid service which does have good maps, however your tracts will not be on it. You can zoom in to see the general area though and they have quite a bit of data at your fingertips. Pangaea is another service, but no maps. Baker Hughes has a free rig activity map on its investor page. Most of us cobble together something from what is out there. A couple of us use Excel to build our own maps. You can buy GIS software, but it is expensive.
http://gis.deq.ok.gov/flexviewer/
really nice viewer with different maps using the slider bar. Your tracts and activity are not on it, but it can be a base for you.
M Barnes, thank you. I looked at the OOC site and just thought I was to stupid to figure it out. Tech savvy I'm not.
Thank you, Ron! I've been combing through all the information you provided and it has helped greatly!
I have mineral interest in section 2 (W2,SW4) T14N, R7E in Creek County. Can any one help me with finding out the status of a well recently completed at this location? Well was drilled by Emerald Oil. I was out there this afternoon and there is a small christmas tree and a tank battery along with a saltwater tank and a frac tank. No electric at the well site. It appears it is flowing into the frac tank, apparently for testing?
Interested in finding out if a completion report has been filed.
Thanks, F. Stewart
Dark Horse Energy offered me $150/acre with a 3/16th for acreage in 17-16N-09E or $300 with a 1/8th. When I asked for $250 with a 3/16th, Dark Horse said we would just have to wait for pooling. Anyone have better terms for this area with Dark Horse or other companies? Any recent activity anyone aware of in this area?
Arroyo Land offered some of our family members $250/acre with 3/16 for acreage in 04-14N-09E. Anyone know if that is a good offer for this area and anyone aware of activity in this area that would influence whether we should accept this offer or hold off?
Any one leasing in section 28 and 34 15N8E Creek County?
FLoyd, Looks like a permit for the Emerald #1 well was listed 8/4/14. I find no spud date yet, so not drilled. There is an old gas well there (Roentree #2), so that may be the Christmas tree you are seeing. But I just looked it up and it has an affidavit of old well status that says that there is no evidence of a well. Hmmmm. Looks like they are trying to clear title so the new well can get drilled.
Richard, looks like Dark Horse Energy Partners is leasing in the whole township. I count 237 leases in the last few months. They may have gotten the 51% majority they need so don't want to bother until they go to pooling to get the rest. I do not see any pooling or spacing orders yet, so you will just have to wait a while. I would bet they are leasing for someone else as a stealth play. You will get the best price for what they are offering at that point.
Richard, if that is your first offer, you might want to stall a bit. I see a lot of pooling hearings pending in the area. 22& 26 in late September, so you might want to see what whose bring first. They will give you a feel for the market. Nothing has been posted in 4 yet for leases, so you do not want to be the first or you will be the lowest.
Some horizontal drilling is starting to creep up in Creek, so if I were you, I would wait a bit and see what starts happening in the next couple of months. I was just force pooled for $150 3/16 in 19N-8E, so your $250 is better than that.
For those of you in Creek who haven't leased in a while, be very careful about your lease clauses. The "standard" lease contract the company will offer you is not in your best interest. There are some clauses you do not want and some that you need to add. When you get closer we can discuss them.
Karla, Looks like Edgewater Resources and Sally Smyth are in the general area around 28 and 34. More activity in 26, 27, 34 & 36. Looks like someone is in there leasing for a company.