Lease just expired. Is anyone still leasing minerals in T19N R16W in Dewey County or has pooling stopped the need for that? Thanks.
There have been 243 leases in the last 24 months in Dewey county. Depends upon where you are as to the activity. Pooling is the last resort before drilling.
Thanks Martha. Section 7. Wells all around me.
Keep an eye on Devon and Tapstone. They have filed the most cases.
Thanks. Would never sign with Tapstone. Maybe Devon. Kind of odd we have had leases for ~75 years and now no interest with horizontal frac wells all around me.
Has there been anymore leases in NE/4 of Sec 24-16N-14W, Dewey county?
Recent leases have been in sections 4, 5, 30, 31, 32-16N-14W
Section 24 would not have any new leases because it is held by production by the Preston 1-24H and Matli Brothers 2-24-13XH wells. If you have minerals in 24, you should be getting royalties from those two wells.
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My Mothers estate is getting royalties from the 2 wells, very meager. I just wanted to know of there was any more activity in that same area, Thanks so much.
Most of the township is held by one one in each section, either a single section wells or a multi section well. Not much new leasing.
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I am 75 and while healthy I would like to sell my NMA in Dewey County. My kids don’t know anything about royalties, but they understand cash.
Family Current
Royalty Owned Total Individual Action
Section 4-18N-15W, Dewey County, OK 75.345 25.115 Leased at $1600 per acre Jan 2017 (3 year 3/16
Section 5-18N-15W, Dewey County, OK 78.345 26.115 Leased at $1600 per acre Jan 2017 (3 year 3/16
Section 6-18W-15W, Dewey County, OK 78 26
Section 31-19N-15W, Dewey County, OK 80.36 26.78667 producing starting 2018
Section 36-19N-16W, Dewey County, OK 20.00 6.666667 producing starting 2019
110.683334
You may want to consider talking to an estate attorney or CPA. If you sell, you may have capital gains tax. If you pass to your children via a probate or trust document, their value will be reset upon your death and they will have much lower capital gains tax if they sell. In the meantime, you can enjoy any royalties or put them aside for them in a proper instrument. Get informed before you make a move.
If I get a new lease in January for 50% not producing I have to count that as ordinary income making capital gains the lower amount. I have a fantastic retirement check that disappears on my death because it is all government retirement checks. I really want to sell while the mineral rights have value and my income this year is the lowest it has been in a couple of years making the capital gains less painful. My kids would rather have the money. I had an offer for $300,000 but turned it down because they put a clause in that would let them purchase all my mineral rights anywhere beyond the 5 parcels I want to sell. I have 500 NMA in Arkansas that is not worth much, but refused to include it in that contract. I don’t think the company knew about the Arkansas mineral rights, but I was not going to let it go in a sneaky legal grab.
You were smart to decline that first offer with strings attached. Only sell particular properties with no strings. You can use an auction site or use a broker to try to get you the best deal.