can someone clarify this for me? i have no idea what these tracts mean.
section 2 T3N R4W section 3 T3N R4W section 10 T3N R4W section 11 T3N R4W
there are 2 wells that are pooling and have been for some time. i have also received an email stating other wells that have submitted permits in these areas. i received an offer to sell for approx. $8000/nma
are these separate tracts or are they only 2 sections? a little confused.
Here are a couple of pics from my Garvin County Plat Book that might help. Shows you where they’re located anyway. Looks like there are 3 sections involved; 2, 10, and 11. The red square at the top in the blue area in the second image shows you where the Township is located in relation to the county. My red ‘circle’ shows where the sections are related to the township. You can get more granular to property ID by using the PLSS (Public Land Survey System) if you know the quadrants within the section.
Thanks for your response. If I were to consider selling, do you think $8000/NMA IS A GOOD START. I am still trying to figure how many nma I am looking at through these sections. I have 3/16 at 25%. Thx
Wish I could help you, but that’s pretty far out of my wheelhouse. I’d suggest you locate a lawyer familiar with the area and what’s happening around there to assist with that, as well as ensuring you’re covered and warrantied during the sale. My experience is it is money well spent.
Thx b par10. My concern is hiring attorneys and not being able to recoup my loss. Just unsure but hey,. Could be something positive…
Whenever I get an offer to buy my acreage, I try to figure out what they know that I do not know. And in my experience, most first offers are low just to see if I will bite. They intend to make a profit off of me.
You are referencing four different sections. You may have an ownership in a portion (or tract) which is a subset of those acres. Marathon is the operator in those sections for the deep horizontal wells and they have approximately eleven wells that have been drilled and in the process of completion. They expect completion by the end of February. (That is why you are getting offers-they want your future royalties). Case 202101590 gives that information. These wells are going to come online shortly and have checks starting in about August or September.
Your future royalties in the sections will be determined by a formula: net acres/actual spacing acres x royalty x % perforations in your section.
The first thing you need to determine is how many net acres you have, what your royalty percent is and in which sections you actually own acreage.
You also need to find out if you hold royalties in the NE Purdy Springer or other waterflood units which have shallow production. (Very likely) Those shallow wells in the unit also have value. Are you getting royalties from Daylight, Merit or Marathon already? If so, you can contact them and ask how many acres and what royalty they are carrying for you.
Given what the first well in sections 3 & 10 produced, I think you will be very pleased with the production from the infill wells. Please get professional help before considering selling. You may change your mind once you get more information.
Are the Plat Books available to purchase somewhere? They seem to be hard to find…Thanks for your help?
Thx m. Barnes. Lots of great info. Just to follow up.
We are new to this and recently inherited these rights. Therefore no checks from anyone. I did receive an email stating other wells were seeking permits, and purdy was one of them. We are older and not sure how long we wish to carry these rights, so getting all of our ducks in a row are important. Sounds to me that these tracts are doing very well with overall production. We have contacted a mineral rights attorney and hopefully get more info. Your input and any input is invaluable. This forum is a great start
Toni1 - mine is circa 2016 and came from Visual Lease Services in Holdenville, OK. I recall I ordered it online, but don’t see a web address to provide you.
I found this website not too long ago that’s pretty nice in figuring out the different quads and land descriptions in each section of land. You can zoom in or out to tighten the description where you drop the marker (i.e. NW1/4 of NW1/4 in Section 25…) That type of thing.
I thought you might have just inherited. You will need to make sure that your attorney gets the list of all the minerals that you inherited. It will be up to you as owners to contact all of the operators and inform them about your name and address. Also, the probate documents need to be filed in every county where there are minerals, not just in the domicile county of the deceased. The operators will require probate, trust or other documents that address the title change as they do not want to pay the wrong people. We can help you with a list of operators. If you have the previous owner’s name and any check stubs with an owner number, that will make it easier to transfer (but not necessary).
Best to get your ducks in a row and maybe enjoy those new royalties. The executor of the state should have put a value on the minerals rights so that you will get the step up value and not the original purchase value or zero. If you sell, you may have capital gains tax, so that basis amount is a very important number to have. If you do not sell, then pass the information onto your heirs for information purposes. They will hopefully get their own step up value. Good time to do estate planning of your own.
Thx. My wifes’ mom was the last owner. Her name is Bonnie Cline. Her husband, Verne cline predeceased her. List of operators would be nice start. I don’t know if they were receiving any checks. There is one other sibling who has no interest in this.
You can look her name up (and his) on the www.okcountyrecords.com website and see what shows up. Free to look, costs a few dollars to print. That will get you started.
Where can you purchase one of these Oklahoma Plat maps? I am vision impaired and I think these would help me with locations.
Thanks
garyr1944, you can do a Google search for county Plat Book or something like that to find different options. I think each plat book is for a specific county, though there might be some that cover larger areas. Unsure. Anyway, select the county you want, pay the fee, and they’ll ship it to you. Didn’t take long if I recall right.
Here is a Garvin township map. You can save as a pdf and then enlarge to see your area. Garvin County Map.pdf (409.8 KB)
You’re correct in weighing the cost of hiring an attorney vs the value of the minerals. It’s always important to factor costs in, especially when you don’t know your net mineral acreage. To me it sounds like you will need an attorney on this. I’m guessing there was a will, and one sibling was left out. Has the estate been probated yet?
Hello, i have a follow up ? Would you by chance have a contact number for rimrock? I need to contact the appropriate people to change our title.
Also, i was notified by marathon that my affadavits would take 2-3 months to verify and then be able to recieve a division order telling us all the details of our current status. Does that sound about right? And if so, I assume that mineral checks wont go out until that entire process goes through. Does it include ALL wells, both vertical, horizontal, infills, etc?
You mentioned marathon has added eleven wells or more to our tracts. Do you think all this information would be included in the division orders.
I am finding these tracts have so much activity it is hard to determine all the additional wells and who else is involved in production. Trying to keep track. Thx
Rimrock has contact information on their website. You probably need the OKC office. Contact Us - Rimrock Energy Partners
Yes, it does take several months to get everything checked for title. Normal Division orders take about five months. All wells should be accounted for on the Division Orders, but you will probably have to make sure once they come.
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