Bruce,
Just the blank one. (link about 5 posts) I've got it in excel if you want it.
I have not had time to start researching and populating it yet.
Updated map.
http://dsdd.com/graphicmaps/current.pdf
Added this great map is from Gary Ridley It has the wells in the actual location with the laterals.
http://dsdd.com/graphicmaps/AROUND_2N4W_22120922.pdf
Be sure and zoom in and look at the detail.
21 -3n-4w- has not been spud yet I don't think.
You are correct Ron. The data part is correct but the graphics are not. 21-3N-4W has not been spudded, 21-2N-4W has been. (unofficially) I changed the wrong cell. I corrected my copy. I'll republish it later.
Thanks for catching that.
I thought I drop the ball because we have interest in 21. You did wake me up quick. The maps and info are great.
Thanks Ron. If you see anything else that sticks out, please let me know. I'm sure there will be some other mistakes. It will take quite a few sets of eyes to keep it straight.
Rick...A young man just called and talked to me that is friends with a relative and he has royalty in Garvin Sec. 33 and 28 3n,4w. He was wondering why it was colored purple on the map. He said they were going to drill on him in that section but he didn't think they had started yet. I told him I bet it was because of the Mashburn well that was drilled from that section south to Sec. 4 in Stephens Co. Is that right? They do have a well on his Sec. 28 in Garvin just north of there he thought.
Linda,
He is correct. The graphic map should show yellow. If you scroll down the the supporting data pages it shows the correct info. A spacing order has been approved for 33-3N-4W. 28-3N-4W has applications submitted but no orders issued. I'll get it corrected. Thanks!!
I just recently acquired some rights in section 6, 1s-4w. Does anyone know of anything going on there or any companies leasing land? I browsed through some of the maps and discussions but did not see anything near this area. Or maybe a good place to get some info as I am new to mineral leasing and such.
Joe,
Our rights in 6-1s-4W were leased to Sandridge in 2010. For some reason they never recorded it. Since then Chesapeake, TS Dudley, and Bearcat have inquired about leasing it. Continental filed a couple of leases in June. Marathon (as well as those listed above) leased in surrounding sections.
No activity in the section yet. Hopefully we will see some movement soon.
Be very careful and ask many questions before you sign a lease. A bad lease is worse than no lease!
Ok thank you Rick for the info! Do you personally have any advise as far as what I should look for dollar wise? I understand that 3/16 royalty is common but I guess on land that is not producing anything that would mean $0 where some companies offer some sort of bonus amount also....what kind of figures should I try to get per acre?
I'd ask for a 3 year no extension option. 3/16 RI with a depth clause, no production costs clause. a pugh clause if you have more than a few acres or separate tracts, and a shut-in clause.
Unless things have cooled off, I would start asking for $1250-1500 per NMA. The above info is more important than the bonus amount. An adjacent section was bringing $1000 NMA early this year.
A 1/5 or 1/4 RI with less or no bonus might be possible and would be a better deal in the long run.... IF they drill it.
There are a lot of leases that will start expiring in the next 7-8 months. With the focus in the 2N-4W and surrounding area, who knows.
Main file updated.
I need to get the changes up to Gary so he can update the other (better) map. The delays are my fault, not Gary's
lol Rick...I don't know if you or anybody will be able to keep up with all the changes that's fixing to take place in these parts. I just talked to my husband's half brother that lives in 11 2n,4w and he said some company man had talked to him and told him there was going to be wells put on every 20 acres all around him in the near future. He said we already have one on the north side of me and one on the south side. They also talked to him about putting a pipeline across him. He said he was thinking about selling his place. Don't know how you will make a map with all those changes!
What a nice challlenge, keeping track of all those wells. Kinda like running gold coins thru your fingers from one hand to the other. HA Ha lol. Just a little something to keep ya busy and out of trouble. lol.
Why no extension option Rick?
Kenneth,
It is pretty much accepted that all of the advantages of an option are in favor of the grantee in an oil gas lease. Say you lease for 3 years with a 3 year option. You lease for $1000 an acre.
Scenario 1. At the 33 month point leases are going for $2500 an acre. The grantee will exercise that option and lock you up for another 3 years while the adjacent property owners are getting $2500.
Scenario 2. At the 33 month point lease are worth $100 an acre. Grantee does not exercise the option and comes back and offers to lease at $100 an acre.
You have effectively leased the rights for 6 years for $2000 and the oil company pays the first half up front. They have the right to back out halfway through the lease.
To me a $1000 acre lease for 3 years – 2/3 year option is worth much less than the 3 year - no option lease for $1000 and acre. One of the offers I had reflected the same. The 3 year lease carried a bonus about 22% less than a 3 year 2 year option lease.
So the only advantage you might have with an option is to be able to get a higher bonus up front. You should negotiate accordingly.