I am new to this website. I have been viewing all the discussions for a while and find it is so informative. This is really great!!!!!!
I have mineral rights in Section 34 9N 7W and was wondering if anyone knows how much an acre they are leasing. I would really appreciate any help you might be able to give me. I am living in TX and kind of hard to keep up with. Thanks!!!!!!!!
Barbara Jean,
Continental Resources Inc. has a permit to drill a horizontal well that will be almost 2 miles long and end about 2 miles south of Section 34. If it is a good well, CRI will likely advance north. If you have the patience to wait for that well, your lease will be worth considerably more than it is now. I would only lease to CRI directly if you can. You may have other options depending on your personal situation.
Barbara, in the last month I leased in Sections 4 and 20 of T9N, R7W to Continental for $1000 bonus, 3/17, 3 years with no deduct and depth clauses. I did a lot of checking with other mineral owners in T9N and 10N and this seems to be the top bonus Continental is payiing now in this area. Maybe if they get a good well in the section that Gary mentions, bonuses will grow.
Continental has a lot of leasehold acres so it will take a long time before they drill it out. This is the third lease just with Continental so maybe we will lease again before they drill in my sections.
Gary L. Hutchinson said:
Barbara Jean,
Continental Resources Inc. has a permit to drill a horizontal well that will be almost 2 miles long and end about 2 miles south of Section 34. If it is a good well, CRI will likely advance north. If you have the patience to wait for that well, your lease will be worth considerably more than it is now. I would only lease to CRI directly if you can. You may have other options depending on your personal situation.
Good Luck,
Gary L Hutchinson
Minerals Management
Barbara Jean Hill said: Thank you so much for the information. I did contact CRI, she told me they are not leasing in this area. She would contact their landman for this area and if they started leasing, he would be contacting me. I do know that CRI has been leasing in this section 34 9N 7W because Grady Co Clerks office shows leases that were posted the last part of July. I do have another question, how long does it take to drill a well on the average, six months?
Gary L. Hutchinson said:Barbara Jean,
Continental Resources Inc. has a permit to drill a horizontal well that will be almost 2 miles long and end about 2 miles south of Section 34. If it is a good well, CRI will likely advance north. If you have the patience to wait for that well, your lease will be worth considerably more than it is now. I would only lease to CRI directly if you can. You may have other options depending on your personal situation.
Good Luck,
Gary L Hutchinson
Minerals Management
Continental Resources Inc and Continental Land Resources are not the same company. Operator and leasing company. they may or may not be associated in Grady. I just don't know. Stick to your factual research. CRI was leasing in your Section in July. If that is fact, take my advise and wait for CRI to come calling. CRI usually hires companies to lease for them but take the the lease in CRI name. Read the fine print in the lease and don't believe anything not in writing. Rumors are the scourge of the mineral owner. Be patient. Your minerals took hundreds of millions of years to develop. They aren't going anywhere until somebody finds and produces them.
To drill a well after a permit is issued, the operator must have the financing approved, find a drilling rig, test, design the completion and contract with numerous companies to complete the well. Big companies like CRI can anticipate the list above and have alternatives available to them when hiccups occur. Never the less, hiccups can extend a 90 day time from spud to completion to six months or much longer. Then the infrastructure in the area must be deal with before product can be sold. For the mineral owner, determination of title, Division Orders etc can extend the time even further. All good reasons to deal with good operators.
Barbara Jean Hill said: Thank you so much for the information. I did contact CRI, she told me they are not leasing in this area. She would contact their landman for this area and if they started leasing, he would be contacting me. I do know that CRI has been leasing in this section 34 9N 7W because Grady Co Clerks office shows leases that were posted the last part of July. I do have another question, how long does it take to drill a well on the average, six months?
Gary L. Hutchinson said:Barbara Jean,
Continental Resources Inc. has a permit to drill a horizontal well that will be almost 2 miles long and end about 2 miles south of Section 34. If it is a good well, CRI will likely advance north. If you have the patience to wait for that well, your lease will be worth considerably more than it is now. I would only lease to CRI directly if you can. You may have other options depending on your personal situation.
Gary L. Hutchinson said:
Continental Resources Inc and Continental Land Resources are not the same company. Operator and leasing company. they may or may not be associated in Grady. I just don't know. Stick to your factual research. CRI was leasing in your Section in July. If that is fact, take my advise and wait for CRI to come calling. CRI usually hires companies to lease for them but take the the lease in CRI name. Read the fine print in the lease and don't believe anything not in writing. Rumors are the scourge of the mineral owner. Be patient. Your minerals took hundreds of millions of years to develop. They aren't going anywhere until somebody finds and produces them.
To drill a well after a permit is issued, the operator must have the financing approved, find a drilling rig, test, design the completion and contract with numerous companies to complete the well. Big companies like CRI can anticipate the list above and have alternatives available to them when hiccups occur. Never the less, hiccups can extend a 90 day time from spud to completion to six months or much longer. Then the infrastructure in the area must be deal with before product can be sold. For the mineral owner, determination of title, Division Orders etc can extend the time even further. All good reasons to deal with good operators.
Gary Hutchinson
Barbara Jean Hill said:Gary L,
Thank you so much for the information. I am going to take your advice and wait for them to contact me.
Barbara Jean Hill said: Thank you so much for the information. I did contact CRI, she told me they are not leasing in this area. She would contact their landman for this area and if they started leasing, he would be contacting me. I do know that CRI has been leasing in this section 34 9N 7W because Grady Co Clerks office shows leases that were posted the last part of July. I do have another question, how long does it take to drill a well on the average, six months?
Gary L. Hutchinson said:Barbara Jean,
Continental Resources Inc. has a permit to drill a horizontal well that will be almost 2 miles long and end about 2 miles south of Section 34. If it is a good well, CRI will likely advance north. If you have the patience to wait for that well, your lease will be worth considerably more than it is now. I would only lease to CRI directly if you can. You may have other options depending on your personal situation.