Greg,
The drilling is a multiple part process. Any payments on production sales will take some time. I’d say you are looking at Sept-Nov.
Greg,
If you must sell, I recommend Brad Odom. No one has offered me that amount.
Tom
Rick, You are right there. That rig went up just when they were doing the flow testing of the Mashburn 1H-33. I would pass it going west off Hwy 76 on the Garvin/Stephens Co. line.
Greg, Continental Resources started drilling the Lang 1-20H in 3N/4W on 12-26-12. I haven’t heard any news but if all goes well it could be completed in the next few weeks.
thanks Linda. im adding you as a friend, also.
did you receive my friend request, michael?
linda, i leased to continental.
i recently inherited 10 acres of mineral rights in section 20-3N-4W. i just leased it for 3yrs, with 3/16 royalties. has there been any wells there, or does anyone know the history on that area?
oh, okay. does that mean, it could possibly sart producing barrels of oil soon? if, there is anything down there?
Greg, you won’t see your first check for at least 6 months but it will be a “catch up” check and with 10 acres it could be $20,000 or more with monthly income after that. Definitely not the time to sell. I was in the same situation but hanging in there paid off very nicely. If you are desperate sell 1 or 2 acres as a last resort.
Grergory…If you have to or want to sell Brad Odom seems like a really nice guy to sell to. I visited with him recently when they made us our best offer ever. Come to find out he was raised very close to here and roomed at college with the son of a good friend of ours and we know a lot of the same people locally here. I believe if you wish to sell he would be your best bet. If you don’t need to sell I’d say don’t but everyone’s case is different. As always I’ll tell you that my opinion may be worth just what you are paying for it! lol
Greg, Linda is the on the ground expert, she can give you an eyewitness report if she can get close to the site.
I’ll post a couple of things so you can see what it looks like on paper. Someone might be able to pull up a Google Earth image you can look at.
Rick, When I first saw a rig on 20, don’t know name or number, the Precision 102 rig had just been moved onto 21 to drill the Dicksion but was still laying down. Had not been erected at that point. My interest in that area is the drilling pad just west of the Dicksion that is to drill down into Sec. 28. The Lisa Marie well, by the way, is on Sec 29 directly south of Greg’s sec 20 and Continental is crowing about it so that is a hint of production potential on sec20. What I am remembering is the sec 20 rig going up and the sec 21 rig being up in the next couple of days.
Greg, this is only a thought that has come to mind. Most of us, and I as much or maybe more than anyone, have been in a fix,so to speak, and had to find a way solve the problem because we didn’t have any royalty to sell. I would suggest, if you have had this situation confront you before, that you rely on that experience. Not Your Royalty.
Grergory…maybe like someone suggested you might sell a few acres and keep the rest. It’s according to whether you need a quick nickel or can wait for the slower dollar! Best Wishes!
or, after drilling is complete, do we sit back and see if the well is going to produce any oil, or so?
Richard, the Precision 102 has been on 19-3N-4W drilling the Ball 1-19H about a month.
Greg,I said Precision 102 Rig was drilling Sec 20. Not so. It drilled Sec 21 3N/4W and that was the Dicksion. Don’t know what rig drilled Sec 20 but it too is down and gone. Only Rig down there is on Sec.19 3N/4W. Will attempt to be more precise in the future. Also we were there last Saturday and not Sunday. The only person I have tried to convince of my perfection is my wife. That ain’t working either.
Thanks Richard.
It looks like Marathon has an active rig on 34-3N-4W also.
michael h. , it was mentioned that on my section 20, the Precision 102 rig that was drilling is down and gone and drilling is complete. does that mean its over for that area. no anticipating catch up checks or royalties. it must be bare down there, then.