They said that we are the last hold outs of 6 sections they have already leased and locked up.
We have owned this Smith Family Farm 106.6 acres since the 1860s and has bee in oil lease since about the 40s. GHK says they are planning 20 horitzonal wells in this area with fracking and talking about 1000s of barrel per day wells. They are starting the first well in two weeks on section 3 next to us and say we are the next and if we dont lease to them they will force pool us. So we would like to lease our mineral rights to the highest bidder but have little time to do this does anybody know of a good place to advertise our minerals for lease. They have offer us 800per ac. at 3/16 but I understand in the last 6 months someone in Dewey county got 15,000 per acre for his lease so I am noit sure what we should ask for ours. Any help here would be appreciated.
Thanks
Have only heard of the 900 dollar range. When we leased about 3 years a go only got $175.00 but now have a producing well
We are in section 1 16N 14 W
$15,000 ? GHK does not have a pooling hearing on section 3 until Sept 24th and it will be a few weeks after that before they get a pooling order,then 20 days after that for everyone to make an election on the pooling order. There are no other poolings filed in this township yet. It would take a month or more to get a pooling order and then you have 20 days after they get the pooling to make an election. What the operator does not lease they force pool. Under the pooling any one who has not leased to the operator already must make an election from the options offered in the pooling. If you have leased to a third party they must make an election. One of the options will be to participate in the drilling and take a working interest in the well and pay your proportionate share of the drilling expense and get your share of the production or 8/8th of your interest. Or you take one of the royalty options the operator is ordered to pay. These are determined by what was paid for leases in the eight units around the one under the pooling. If you fail to make an election in the time allowed, usually 20 days from the order date, you get the default option which is usually the high cash bonus and lower royalty. You can take different options with different parts of your tract. I also doubt they have it all. I also checked the township north of you nothing going on.there is some pooling & wells in 18n-15w I will get some info on them but they are not 1,000 BOD.
I found some pooling orders in 18n-15w section 29 & 30 in 2010 they were ordered to pay 1400 for 3/16th,600 for 1/5th or no cash &1/4 . In 32 & 33 in 2011 they were ordered to pay 1400 for 3/16th,1000 for 1/5th or 500 & 1/4th
According to NARO inTULAS nation headquarters and the records they have says that in the last 6 months
a landowner in Dewey county was paid 15,000 per acre for a mineral rights lease. You can contact them at
NARO http://www.naro-us.org/
Tim GHK told Cameron above they had everybody but him locked up for 6 sections. They offered him 800. I would wait for the pooling order on Section 3 and see what they are ordered to pay. What will it hurt.
Yes it is LSI is GHKs leasing agent . I agree with Ron here. We would have to wait and see what is offered to section 3 owners for sure . How do we find that out. Does someone have that info? or can I get it and if so how? So Tim has your mother singed a lease yet or sis the leasing agent not be trueful with us.?
I would say , do not take it personal. A landmans job in this instance is to get you leased for the least amount of bonus and royalty and they do whatever they think will accomplish that goal. Personally, I think telling someone a lie means that you do not respect them, that they do not deserve the truth or are not smart enough to tell the difference or find out the difference, in that case, it's always a pleasure to prove them wrong.
Capt Cameron R Smith said:
Yes it is LSI is GHKs leasing agent . I agree with Ron here. We would have to wait and see what is offered to section 3 owners for sure . How do we find that out. Does someone have that info? or can I get it and if so how? So Tim has your mother singed a lease yet or sis the leasing agent not be trueful with us.?
http://imaging.occeweb.com/imaging/OAP.aspx This is a link for pooling orders put in 201101181 where it says Case # and click search to see an order as close by as I could find. Click on # far left of were it says Order under Docket Code. Put in 201204279 and you can check out what they have done in 3-18n-14w. Tim They can't drill with out your Mom. She has nothing to be afraid of. They can't have the party unless they invite your Mom. The lawyer should know oil & gas you want a depth clause , limit on shut in royality clause, Gross proceeds clause, Pugh Clause for sure ,you would have these under pooling.
Get other opinions, but I don't fear the pooling. Have been pooled many times have always been offered as good or better terms as those who leased usually with more options . Say they pay $600 or more an acre and get 500 of the 640 that is over $300,000 . Are they going to walk away because they can't get your Mom's interest? They can't go on without it.
Tim no that is a lie they would never resind a offer to lease. It is only a tactic that they use to get you to sign quickly. It is a very poor and disingenious tactic that should be illegal and punishable by law.
I see how they want to play we can play hardball with power they don't have. So we are playing hardball here I love it because they don't know who the other team is yet but they are about to find out! We have a much bigger BAT and they have no bat at all only words of lies. GAME ON!!!!!!!!
Time to Rally the troops! GAME ON!!
Ron can't seem to bring anything up for the pooling oder i can't get anything up. Can you just copy and paste the info here?
OCC Imaging - OAP Orders and Case Files
Case # example: 200400501
Docket Code example: See here for full list of docket codes
Case Type example: See here for full list of case types
Order # example: 412345
Date to example: 1/1/2001 or 1/1/2001 to 1/31/2001
Scan Date to example: 1/1/2001 or 1/1/2001 to 1/31/2001
Type in your search criteria then click the 'Search' button.
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Chesapeake oil co. has 3 or more wells just about 10 miles west of us that were supposely producing 3000 to 5000 BPD. Does anyone have the info on these wells that they can share. Ron can you get all the info on production and type of wells and depth and formation any and all info would be helpful. Please copy and paste info here. It is because of these wells that a landowner was paid $ 15,000 per acre for these mineral lease. Ron can you also get all info on this and post it here as well. So it is the all info on production on the Cheapaeake wells and all info on the landowner who got the 15K per acre. Would also like to have contact info on this landowner.
Thanks
I have attached GHK's apps for pooling on section # for all to see.
2759-OCCAppsGHKPoolingSec3.zip (955 KB)