Received $125/a & 3/16th.
Any other offers in this section? Thanks in advance
I was offered 150, haven't signed yet. In the same descript. Was your operator, Landseer Expl, Norman OK? A landman working for them? Have you seen any activity in area or near by?
Mary Kinnison said:
I was offered 150, haven't signed yet. In the same descript. Was your operator, Landseer Expl, Norman OK? A landman working for them? Have you seen any activity in area or near by?
Yes, I had an offer, 175, 3/16. 3 years, w/ 2 yr option. But there are some things about the lease I don't like: warranty, defend chain of title; and the deductions clause. so I haven't signed yet. Have you heard of Landseer Explorations, LLC ?
or Huntley Resources,LLC? Can you share name of your Landman?
Do you know of any activity, or other lessors, lessees ? Would appreciate any information. Thanks
they changed from 150 to 175, in first conversation.
Mary Kinnison said:
I was offered 150, haven't signed yet. In the same descript. Was your operator, Landseer Expl, Norman OK? A landman working for them? Have you seen any activity in area or near by?
First offered 150, but at my request changed to 175
Yes it was Landeer and the letter they used to mail the lease came from Huntley. I received no other offers. I made them add my royalty clause about deductions or told them forget it.
Did your landman agree to revising the deductions clause ?
I have not yet submitted my changes to request, as I've been under the weather with flu bug.
Recently received an offer for 12, 15 North, 11 East, for 300 , 3/16 for 3 years. Is this reasonable? Have no idea what I’m doing. Should I be looking for attorney?
Mary Kinnison said:
they changed from 150 to 175, in first conversation.
Mary Kinnison said:I was offered 150, haven't signed yet. In the same descript. Was your operator, Landseer Expl, Norman OK? A landman working for them? Have you seen any activity in area or near by?
Landseer was the operator. I signed, after a few revisions to the lease by an O&G attorney. The landman, Mr. zatarawala, said that it was unlikely that until oil prices go back up, as saudi arabia are flooding the market.
This is a Cromwell Play as a cheaper alternative to the Mississippian play in Central OK according to some of my buddies in OKC
I have no idea what a “play” is, much less a Cromwell. If you would be kind enough to explain this, i would appreciate.
yes he did
By "Cromwell" he means the formation that they will drill to to extract oil or gas. I believe they are also going after a couple other formations in this area. I think the reason you are seeing activity pick up in this area along with Okfuskee County is on account of how shallow the target formations are. With energy prices down it makes sense to produce wells that are cheaper to drill. I am a local mineral buyer out of Tuttle, OK. We are discussing the prospect of buying in Okmulgee and Okfuskee Counties. In the meantime if you want advice on leasing I'd be glad to help.
From Wiki
In geology, a petroleum play, or simply a play, is a group of oil fields or prospects in the same region that are controlled by the same set of geological circumstances. The term is widely and heavily used in the entire realm of exploitation of hydrocarbon-based resources.
Sand units were informally named when discovered and most of the names relate either to a nearby place (like Cromwell, OK) where the sand is prominent as a producer or were named from surface exposures by early geologists who sequenced the rocks. The Cromwell is lower Morrowan in age. It is below Atoka rocks and above the Woodford. So there are two components one is the stratigraphic sequence and one is the age, usually dated by fossil evidence.