Mr. Thompson,
First of all I would like to congratulate you on your excellent mineral rights rate! I greatly appreciate your post, it is nice to hear that there are others out there benefitting from mineral rights in Love County.
As for the rest of my questions I hope you will forgive me if I ask too much of you (I do not know enough to know what is polite to ask and what is not). I am really new to all of this as I recently inherited these mineral rights (as a matter of fact I have yet to see any paperwork inked on anything yet, however I am told it is in progress) My brother and I own about 13 acres, and between my other extended family members (whom also inherited chunks) we all own 40+ in Sec: 6 TWP: 6S RGE: 2W acres (that I know of). We are all grappling with what the value of these mineral rights are. If you don’t mind sharing with us where your mineral rights are that you received that price on (as I am not sure how proven your area is compared to ours) that might be helpful in making that comparison.
Also if you have any contact information for MR RD Williams at XTO, or anybody else in this busness that might be “helpful” that would be greatly appreciated.
At this point I pretty much have nil when it comes to contacts. Thanks for the post, every bit helps.
Thanks,
Christopher D Frazee
Christopher,
They are currently drilling on you mineral interest. Here are the copies of the DRILLING PERMIT and the SPUD REPORT. A spud report is a report containing information about the SURFACE CASING. This casing goes down just below the fresh water table, maybe 1500 or 2000 feet. Now the real drilling starts.
1DD1B756.pdf
1DD1BB79.pdf
Christopher,
My mineral rights are in Carter Co. About 3 miles south of the Ardmore airport. I leased back in 2006. I think I was the second mineral owner to sign. I singed too early. I should have waited and been 'FORCED POOLED". This is when the State give the mineral owners 3 or 4 options. I could have gotten about double the signing bonus or maybe 1/4 mineral interest.
With a small mineral interest I don’t think you are going to have much to negotiate with. If you all where able to negotiate together it could make a difference.
Stephen Evans is the person I talked with at RD Williams in Ardmore. Here is there phone number 580 226-4100.
The leases these companies offer are all in there favor, so negotiating for better terms could increase your monthly payments. These payments may go on for 30, 30, or 40 years, so the mineral interest, the 3/16. 1/5, or 1/4 can make a big difference over the long haul. I’ll check with some of the other mineral owners and see if I can get you a attorney and I’ll look at the activity in your area.
I noticed you are up in Portland, I’m in Southern California, but I go back and check things out now and then.
Mr Thompson, I appreciate all of your assistance.
Yes, I am in Portland Oregon, however I actually grew up in Placerville, CA, and spent about 10 years in SJC, so I am the lay of the land of CA. I am hearing rumors through the rest of the family that higher rates have been already negotiated, so I am sitting and waiting to see what comes all of that before I move. I appreciate the drilling information, where is everybody getting these docs that they are posting with the permits? Is there a service, or something through the county?
Christopher,
The website is the Oklahoma Corporation Commission.
Drilling Permits
and
OCC Case Filings
You should be able to get the same offer as everyone else or better.
I left off the phone # of Bruce 405-473-7415
Also you might give a John Bird a call at 512-251-2252 If you have not signed e mail [email protected] .
I was contacted by a company wanting to purchase my mineral rights. I signed a lease in January so I am not really sure how selling the rights works out and what would be a good price. They are offering $5250.00 per acre. Could you help me with this? It is Love County 7-6S-1E
Thanks
JEAN do you live close by where your min. are ? I was up in that area about a week a go and it looked like xto was putting in several drilling pads. I don’t know how many acres you have are what they gave on the royalty interest you got but if it were me I would keep them, if you will send me a friend request I can send you a spread sheet that would help you make a decision. Raymond
Does anyone ever actually receive a royalty check or is this something where ones heirs benefit. Sure is a long draw out process with a lot of delays and discussions!
NMACalculationsimple.xlsx Posting this per Raymond’s request. I originally saw this spreadsheet on the Stephens County forum. I believe it was posted by M Barnes. It is a very good spreadsheet to use when analyzing lease bonus offers and/or purchase offers. If you get a well drilled that is any good at all you can quickly see that lease bonus offers should be north of $5,000/acre with a 3/16ths royalty and purchase offers should not even be considered. Just my 2 cents!
William,
Usually, when the lease is signed, the signer gets the bonus, unless the royalty percentage is maybe a 1/5 or 1/4.
Can anyone tell me if Mustang Fuel is about to be drilling in: section 31 township 6 south, range 2 west
How can I find out if there is any drilling activity on these mineral/royalty acres: 12-65-1W
NW/4 NE/4 NW/4 I just received an offer to buy and I’m not sure what to do.
Michael: Did you mean 12-6S-1W? How much was the offer? Are your minerals leased?
Does anyone have any information on the Longhorn 27-1H well in Love County?
Does anyone know who the rig on sec 32 T7 R2E belongs too and the number. I’m guessing it is a Cactus Drilling rig.
M Coleman, that’s XTO. The RACHEL 1-32H
Mr Coleman The rig doing the drilling for XTO on sec 32 T7S R2E belongs to Felderhoff Brothers rig #32
**Does anyone know what the XTO wells are doing in Section 2, 3, 11-7S-1W (Rackley, Irene & Manning). A pooling Order just issued in 27-6S-1W and those are the closest offsets. Trying to decide if I want to participate… **