Any leasing going on in 12N-5W and does anyone have any links to maps regarding the formations in this township/range? What would be reasonable leasing offers in this area?
TS Dudley was leasing in the area in 2016. Mostly in 7, 18 and 19.
Quite a bit of old production. Mississippian and Hunton. Would depend upon your section
section 22, 23 and 27 are the ones I am curious about.
Do many people deal directly with the oil companies that are actually drilling the wells?
It seems the landmen that will not disclose what company they are supposedly working for are less ethical and try to pressure folks into taking 3/16 or less.
As opposed to landmen who disclose which oil company they are working for are not so quick to resort to intimidation, threats of pooling or loss of leasing opportunity and its easier to get 1/4 interest. I suppose thats due to the ORRI,
http://www.mondaq.com/unitedstates/x/319194/Energy+Law/Concerns+And...
I spoke with a landman last week who was looking to buy and when I said not interested and we chatted a bit, he proceeded to tell me with great pride how he got an old lady to sell him her mineral interests for less than what he would have leased them for.
Needless to say I have RAT BASTARD written by his name now. I hate to see these old people get taken advantage of by these unscrupulous landmen.
Are the Favored Nation Clauses very common in Oklahoma?
Pugh V Clause
Pugh H Clause
Favored Nation Clause http://agrilife.org/texasaglaw/2013/09/09/most-favored-nations/
Depth Clause
No Charge Backs Clause
No Shut In Clause,
What other clauses should a mineral interest owner be researching?
Thanks for your help, I'll be gifting you as soon as we close a deal!
You can try for Favored Nation Clause, but they are very hard to confirm with actual data. Some folks do put one in their lease that if the pooling numbers are higher than the lease, they get the pooling amounts (those are public).
Yes, you need both Pugh clauses.
You need a depth clause,
You need a no post production charges clause (I do not do the enhanced value clauses for a variety of reasons) Tax are required to be taken out.
The shut in clause can be limited in time. Most companies will not strike it.
You need a Commencement of Drilling clause.
If you want to chat more privately, friend me with the blue icon and we can take it off the public board.