We've been approached from a couple of leasing agents to lease our rights in Section 20-17N-8W, the offers have been decent, but I'm not 100% sure. Searching the ok County records I haven't seen many recorded leases, but I'm by no means an expert on figuring out activity in the area. I have also seen that there may by already a pooling order for the section by the operator, which seems to be rather quick since I can't find many recorded leases. I have also heard that operator has been rather bullish in their pooling requests recently.
I'm avoiding saying who has offered what the offer was, and who the operator is, because I'm new to the forum and don't necessarily know all the rules, and want to play nice.
I was wondering if anyone had any information on going lease rates in the area, or any other information that may be helpful.
Please let me know if you need any additional information.
Thanks
David:
There is a pooling cause 201503464 by Newfield for this section, but it has not gone through all of the approval process yet, so there is no pooling order. I am not seeing your name listed as a respondent on this pooling cause; are you inquiring on behalf of another family member, or are the minerals actually in your name? How many net mineral acres are owned?
The E/2 of this section is held by production, and so there would be no leases from this half.
There were a few leases recorded in back in 2012 and 2011 on the W/2, and those have been extended and keep active. There is also one lease from 2015.
I own mineral rights in the adjoining section 21. I received a letter offer from Turner on behalf of Newfield a few weeks ago offering $1000 for 1/8, and $800 for 3/16. This is clearly a low offer.
Newfield has indeed been bullish with a large number of pooling causes in the STACK play. Let me know if you have other questions.
If you want to friend me, I can give you some more numbers.
Pooling offers in the area have been $2900 3/16, $2750 1/5. Newfield has filed quite a few applications on 20 that are pending. It is public knowledge. You can either lease (make sure you get a good lease)-read over the last few months on the forum to get caught up. Or you can wait for the force pool which will get you a good set of bonus/royalty pairs, a sort of depth clause and quick drilling. I expect multiple wells down the road, so I would pick the 1/5th option myself. You only have 20 days to reply on the FP, so be punctual, send certified!