I've been approached by a few leasing companies in regards to my grandmothers mineral interest, what kind of numbers are being thrown around for leases,. She has some interest in sections 28, 6 and 12 of 12N-6W. And for that matter what are people being offered to sell their minerals (I know it obviously depends on their royalty interest) but looking to see who has been offering what so that I can make a good decision (most likely going to just lease, but interested to see what numbers are being entertained in the area). any insight would help, thanks in advance. and for t
Sale offers in that township have ranged from $7000-10,000 per acre (from my notes). 12 was one of the $10,000 offers.
Section 6 has pending activity for a horizontal well(s). 12 and 28 may have activity as well. some earlier ones were dismissed and some are pending. I have acreage in 12N-6W and will not sell.
I prefer a good lease and long time royalties.
i appreciate the info, do you have any insight on what a good lease bonus would be if we went with a 1/5th royalty in section 28? if not, no worries I just want to make sure I get the most that I can.
I was just offered $2500/acre for a 3 yr lease at 1/5 interest. We have section 9. He said he would be willing to go higher if my family would collectively agree together on the terms. What numbers have you been given? I'd like to compare as well.
There are quite a few pooling orders that were either dismissed or pending. Section 3 was pooled for $2000 3/16 and $1000 for 1/5 early in 2017. That give you a ballpark. Try to get higher than that.
"word around the campfire" is that people are receiving in the $4,000/ac for a 1/5th (leasing) in section 28.
Very helpful, thanks.
do you know what the pending activity is in section 6?
Check out all of the cause numbers in http://imaging.occeweb.com/AP/CaseFiles/occ5427972.pdf
Been some activity around a multiunit horizontal in section 6 12N and 31 13N.
M Barnes & Capt-slow, how does one find case numbers for activity in a given section. I know you input case numbers into the OAP (not sure what that stands for) in the OCC, but my question is how/where do you go to find case numbers pertaining to a given section. The last few weeks I've been on the OCC looking up well data, but in the OAP there isn't a place to just enter a section township and range to find those case numbers. Any help would be greatly appreciated. Thanks in advance.
George, if you have not yet figured out how to find OCC case numbers, please see in the information I posted on March 1.
George,
Do you still have these minerals? Have you leased yet?
Thank you
George,
section 28 is not leasable at the moment, there have been a couple of bad leases taken in that section already. The OCC screwed up when filing those old completion reports for the Hinton & Vasicek wells, both say spaced at 160acres, which led a lot of people to think that they were actually leasable, when in reality if you search the pooling order you will find that they are both spaced at 640 spacing’s.