I keep getting approached to sell, not lease, 30 mineral acres in Sec 11, 8N, 10W, for under $1,300 per acre. It is not producing or under any lease. What thoughts or recommendations do you have? Thanks.
Charles, I think that is a low offer for purchasing min rights. I am aware of lease offers in the $1200 range at 3/16 in 10N11W. I would suggest you contact several of the companies already mentioned on this forum to see what they would offer for leasing. Of course, the geology in your area will govern value. There are others more knowledgeable than I on the forum who could speak about that.
Hello Charles,
I am not knowledgable about your minerals exact location however multiple offers to purchase often mean something is going on nearby. Personally, I would never sell a mineral. I do have a suggestion if you want to sell - have you considered selling part and keeping part?
My best to you & Dana,
Ann
Charles, I just took a quick look - not at all thorough - and found a new horizontal well Kaiser Francis just drilled in Section 8, 8N 9W. This is a horizontal well in sec 8 and 5, and initial production from the Hoxbar formation is 615 BBLS/Day and 250 MCF. This is 3 miles or less from you.
I'd hold off. Do research.
Ann
Cimarex has applied to the State Corporation Commission for approval to drill a multi unit horizontal well in Sec 1 10N 9w and Sec 36 11N 9W.
It's a Woodford shale common source horizontal well. 50% of the completion interval in Sec 1, 50% in Sec 36. I and other family members have 3 year leases with Cimarex that expire in November. Sec 1 has drilling/spacing orders in place, Order no. 172284 and 558021. Sec 36 has drilling/spacing orders, order no. 138217 and 560848.
The drilling will run from the S/W 1/4 of Sec 1, north thru Sec 36, it will parallel Sec 2 and Sec 35. The drilling will start on the S/W 1/4 of Sec 1, which is where we have rights.
This area seems to be getting busy. Mapping shows this location has multi potential and layered within the SCOOP and Cana Woodford plays and includes the Mississippi Lime Common Source, the Hunton Common Source Supply and Woodford Shale Common Source Supply. This drill is proposed for the Woodford Shale Common Source.