I was recently contacted by a company wanting to purchase the mineral rights of an acre of land that I own mineral rights too. I was not even aware that I owned the rights to this acre(0.975 acre to be exact) although it is in a township and section I do own mineral interests in and have currently leased. This person told me that I needed to find out what drilling had been done over the past several years since I didn’t even know it was mine because he said there was a capped well on this section that includes my acre? How would I go about finding out if there was ever any drilling done since I just recently found out that I even own the mineral rights to this acre? TIA for any assistance
I will add that the mineral rights that I now have were inherited and I didn’t find out about any of the rights that I inherited until about 8 years ago when I was first contacted by someone about leasing. I don’t live in Oklahoma, haven’t even visited nor passed through, so I am still quite the novice at all of this. I’ve learned enough just from reading that I jumped a little to quickly at the first couple of leases, but this call about another acre and possibly drilling being done while I owned the rights and didn’t know it has me a little more confused. Ok, a lot confused. I’m also curious as to why someone would want to purchase such a little tract all of a sudden. They specifically said they were not interested in leasing it, but wanted to buy the mineral rights for this acre. I’ve been hawking this forum for a little while because it appears that a lot of the people who frequently post are very knowledgeable of how this works, so I am hoping that maybe someone could help me understand this latest development that has been presented to me.
Thanks again
You can look on the OCC well records site for the historical drilling in your section. Search by surface location. Many of the old wells in Carter are shallow vertical wells. You need to watch the legal location to determine which might pertain to you. The permit (Form 1000) may have the spacing, so you will need that. 1001A is spud, 1002A completion, 1003 plugging, 1073 change of operator.
There is a horizontal play for the deeper Woodford shale which is why you are getting interest in buying. I have had quite a few offers to buy. I am hanging on for the time being to see how this play develops.
It is remarkable how a seemingly small holding can generate interested buyers. Before Covid there were individuals receiving offers of up to $25k per mineral acre in particularly hot areas. Just make sure that your information is correctly recorded with the land records.
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Thank you very much for the info. Is the section I own rights to sufficient for this search? I notice other boxes of which I don’t have info on such as API, well name, etc. If I simply put my section into the appropriate box would it return anything on either of the forms you mention, or do I need to be able to fill all of the boxes in what you gave me?
Thank you again
You do not need the rest of the info to start your search. Use the section, township and range to see all of the wells. They will give the names and API numbers.
Ask the offering company for a description of what they want to buy and why they think you have title for it. Then you will know which wells pertain to you. For example, if you own one acre in the SW4 of the SW4, then only the wells that include spacing in that area may pertain to you.
If you choose not to sell, then use the time before the drilling to get the title info all cleared up so that you can get the royalties of the new well.
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