Hello fellow Carter County members,
My Name is Carolyn and i’am a mineral rights owner for the section 28-5S-1W at location NW/4 and SW/4. Apparently, I share these rights with other people to whom im not aquainted with at present. It is my understanding the mineral rights are on about 9 acres. The mineral rights have been in the family since the 1920’s and has been passed down to me.
I would like to know if there are any others here who are familiar with this location and what may be happening at this site currently ? I live in Michigan and have no eyes and ears at that location to know what is going on. We have been allowing a company to explore this location for years but he havent heard any news for a long time.
Can someone explain to me what exploration really means ? And how long does it take to explore an area ? If we have not heard anything in years does this mean they are still exploring ? Thanks for any information that you can provide me with.
Carolyn,
Welcome to the forum. You will find a great deal of helpful information here. I would suggest that you read the last year or so of discussions on the Carter forum to get up to speed with what is happening in the County. There has been oil and gas production here for a long, long time. However, the newest plays are the horizontal drilling for mostly the Woodford shale. 5S-1W has several wells. So the answer to your exploration question can be anywhere from a few months to a hundred years. Exploration means that they drill wells to see if they can discover oil or gas in the stacked reservoirs below the surface. I see where Continental Resources is leasing in sec. 28, so if your current lease has not been drilled, you may hear from them when it expires. Are you currently receiving revenue from the wells in the section? If so, then you cannot lease again. When was your last lease signed?
Another good thing to do is read the advice in the MINERAL HELP and BLOGS at the top of the page.
You can look up the current wells at the Oklahoma Corporation Commission website. Type in 2805S01W in the location slot and hit search. http://imaging.occeweb.com/imaging/OGWellRecords.aspx
Come back if you have more questions.
Thanks for your reply. I'll try to answer your questions to the best of my knowledge.
I havent received any ongoing revenue from these wells other than the lease check for exploration which was in the amount of 3600.00 of 9 total acres (400.00 per acre) for a three year lease by T.S. Dudley Co. This lease started on 7/27/12 and will expire this July 2015.
Soon after this past lease was signed, another company came along by the name of Cambria Energy and actually wanted to buy my mineral rights for 650 dollars per acre of 9 total acres. But we declined to sell and carried on the 2012 lease with T.S. Dudley. And this lease reflects a 3/16 royalty. Thanks for your help. I really appreciate it.
M Barnes said:
Carolyn,
Welcome to the forum. You will find a great deal of helpful information here. I would suggest that you read the last year or so of discussions on the Carter forum to get up to speed with what is happening in the County. There has been oil and gas production here for a long, long time. However, the newest plays are the horizontal drilling for mostly the Woodford shale. 5S-1W has several wells. So the answer to your exploration question can be anywhere from a few months to a hundred years. Exploration means that they drill wells to see if they can discover oil or gas in the stacked reservoirs below the surface. I see where Continental Resources is leasing in sec. 28, so if your current lease has not been drilled, you may hear from them when it expires. Are you currently receiving revenue from the wells in the section? If so, then you cannot lease again. When was your last lease signed?
Another good thing to do is read the advice in the MINERAL HELP and BLOGS at the top of the page.
You can look up the current wells at the Oklahoma Corporation Commission website. Type in 2805S01W in the location slot and hit search. http://imaging.occeweb.com/imaging/OGWellRecords.aspx
Come back if you have more questions.
OK, that clears it up a bit. TS Dudley often leases for Continental Resources, so you may see them operate. If your lease expires before July 2015, then you will be free to lease again. If they commence drilling before July, then you will be held by the terms of the lease as long as there is production.
If it does expire, I will be glad to look at your next lease offer to make sure that you get the best deal possible. The standard lease can always be tweaked a bit to your favor.
Thank you. This is so helpful. I could have used all of this years ago!
M Barnes said:
OK, that clears it up a bit. TS Dudley often leases for Continental Resources, so you may see them operate. If your lease expires before July 2015, then you will be free to lease again. If they commence drilling before July, then you will be held by the terms of the lease as long as there is production.
If it does expire, I will be glad to look at your next lease offer to make sure that you get the best deal possible. The standard lease can always be tweaked a bit to your favor.