For those who keep track of such things: I just received an offer to purchase my 1.1111 nma (at 1/4 royalty) in Section 23-6N-6W for $32,000 per nma. I’m not selling, but my, those offers are getting up there!
Yes, often time with the old format some of us would stray from the subject and so Rick Howell I believe start the topic “Chit Chat” so we could just talk about anything on our mind. That was a big help but still some of us still let our minds and mouth wonder. Still I loved that old format and wish you would change it back. It was so easy to operate.
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I think I would have had to think twice about that offer.
We have been thinking about it twice, Darla. It is tempting. There is a multi-unit Springer well being proposed by Marathon per the OCC, so I guess we will wait, but the offer is making us think.
Yes, it was very convenient. At least we have email mode again now & that’s greatly simplifed matters…
James, Sometimes it’s nice to have the money in a lump sum rather than wait for it over 5 to 10 years. It would be nice if someone who has been receiving checks on some of these horizontal wells for a number of years would actually give some estimates per acre of what they have received. It would make decisions a lot easier.
Looks like we are entering a new world with the Sprng Board project…What is a sec with one producing well worth, how much when it completes a half a dozen new wells at one time like in row 1 ?? ???
The 2nd quarter results will not have enough completions in Sringboard yet, but 4th quarter results should be worth waiting to see…
I might add that my lease is currently with Titanium Exploration and they now have what I guess is a broker offering to buy at $14,000 an acre…Section 5, Grady Co. I think that’s rather a conflict of interest?..but who am I to say?
I may also add that my lease may have been sold to Red Rocks…and like someone else mentioned they have not made a royalty payment in 3 months and do not return phone calls—business as usual, I guess.
What are your options if your minerals are under lease when a pooling order is issued but the lease expires before the well is spud?
They are supposed to do a second pooling. However, if you have that situation, it is a great time to get a new lease before the second pooling. You know what the offers are from the pooling order. Sometimes, you can get better terms, but not always. You should get at least the same.
Soonerpe- Does your lease define the term “spud”? It varies. It can mean “activity on the lease” or it can mean having a rig on location that is capable of drilling to total depth. Were you named in the Pooling Application?
Many variables in play here.
Todd M. Baker
Thank you for the replies. A notice of hearing was received. Hearing is scheduled next week. Lease expires next month. I am just trying to get a feel for options if lease expires before work begins.
I am looking for information about a new (?) well known as McConnell #1-11H in Grady County. I received a Division Order rom Unit Petroleum with no additional information. I would be interested to know if this is indeed a new well, where it is located, and whether it is drawing from an existing formation or a new formation? Any additional information welcome!
Does 2-5N-8W ring a bell for mineral rights? Or 11-5N-8W? It was spud on Oct 16, 2017 in Section 2, but the production is coming from 11. Hoxbar is the producing horizon according to the permit. You should have gotten quite a bit of paperwork from the OCC before it started drilling last year. OCC cases were: 201706175, 6174. I don’t see a completion record yet, but it should be posted soon.
11-5N-8W sounds right.
Pardon my ignorance, but what is a “spud” besides a tuber for making French fries?
Spud means “started drilling”
Would anybody have any recent information on CONTINENTAL RESOURCES INC activity in Sec. 15 4N 5W? Currently one well (Sinclair) in this section that we know of. We believe this section has plans for multi unit drilling. Wondering if anyone has more information on possibility of more wells coming on board in this section.
Thanks for any information
Gulfport filed for increased density on four more horizontal wells going across 15 & 10. You should have gotten lots of paperwork from the OCC on them. There were 11 cases at the OCC. Do you need the numbers?
Thanks, I will double check to see if we’ve gotten any paperwork. Am I to assume from your reply that there could be 4 more wells going up on Section 15 4N 5W, possibly Sinclair 2, 3, 4, and 5?
Any numbers you may have would be greatly appreciated. Thanks again for all your help and wisdom!
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