Oh yes. P S I trashed the eight Offers…they know something I don’t !!! And is 3/16th undivided a Decent percent ??? Can the activity in Marshall Co. Be viewed from Google Earth ??? Thx. David Rogers
I agree with Daniel and Cooper. The 3/16 is common and please don’t sell your rights unless you’re needing some cash at this time.
David,
3/16 undivided seems common. With less bonus you may get 1/4.
Google Earth is about 1 year behind the times. In my area south of the Ardmore airport, the last scan was done in 2/2012.
XTO just moved 3 rigs over to Marshall from Carter last week or so.
Howdy from Texas. New to this. I have Inherited minerals in 35-5south-4 east. All I can find out is an intent was filed in Dec…?? I’ve had offers to by out my Rights. Is this area hot?? I believe the land owner is William Coleman?? Any help would be great. Thx. David Rogers. Abilene Txs
They gave $925 for 3/16th or $100 and 1/4th in the pooling for 9-5s-4e
Marshall County is over a half dozen formations that can yield oil and gas with the new horizontal drilling and tracking technology. I heard an explanation at the Woodford Shale meeting at OU a few years back that you can’t miss the O&G formations when you drill, but problems with the technology can make for a dry hole. That happened to me with a well in Johnson County some years ago. There was gas in the well, and according to the Oklahoma Geological Survey, it is in the highest oil content part of the Woodford in the Ardmore Basin. But they could never get the casing to hold for the fracking, so it was plugged. Sad.
Pooling is confusing. As I understand it, in Marshall County the typical pool is one section, or just under 640 acres. Closer spacings have been tried but from what I have read the wells tend to interfere with each other. So we are back to one horizontal well per section for the most part. So in any section, however many acres of mineral rights you hold determines your share of the well proceeds for that section’s well, multiplied times your royalty fraction. Even if you own more mineral rights that touch the section that has a pooling order, you have to wait until there is a pooling order for the touching section. My own strategy is to participate in every acre I can afford to, so I don’t lease every acre I own in case someone does drill.
DON’T sell, please please please
Great. Thx u all. I’m really excited. I’m confused on Pooling. There’s suppose to be a good well a mile Or two away ? Optimistically … How many wells are allowed On 200 acres?? If the first is dry…is it over???thx again…
There are three dry wells on my S 5 T5S R5E from years back. XTO finished a well recently that is still before the Oklahoma Corporation Commission, evidently to clear up paperwork Chesapeake did not do before XTO took over the well. Outfits have tried to buy the mineral rights outright for up to $3500 per acre offer. I have heard at NARO-OK meetings and from my attorney that a lot of people have become very wealthy buying mineral rights from owners who are about to be drilled and don’t understand what they stand to gain if they keep ownership. I did an estimate a couple of years ago of what I might expect out of a well. Prices have fallen and risen since then, and who can predict the future, but I came up with $15,000 per acre over 20 years.
Remember that they are going to make a profit, so there must be something down there.
XTO is requesting increase density in section 28 3S 3E for eight (8) more wells! The bottom hole location will be in section 21 3S 3E.
On horizontal wells XTO usually asks for 640 acres spacing. With 200 acres you should get about 6%, at 3/16 royalty, of everything produced. Lets say oil is going for 90 barrel and they produce 200 barrels a day for 30 days, 90x200x30=540000, at 6% = 32,400 month, not counting the NGL and natural gas. They almost always cut back production, but you could get a new John Deere:)
There are some posts on the Stephen’s county forum, where some are being offered $8,000 per mineral arce. That’s the highest I’ve seen. That section is going to have 5 or 6 wells when completed. They are drilling 4 of them now, using four rigs form 4 different pads.
Cooper have you ever participated in a well and paid your share of the drilling cost ?
Woww. I’ve learned more from u all in one day, than I’ve found In two months. No wonder I’ve had offers from $1200 up to $2500 for all my rights, per acre. ?? Lol
Here is the OCC law docket that includes things like
POOLING
LOCATION EXCEPTION
INCREASE DENTSITY
RULE CHANGES
Thanks for the info Daniel. Can the Area be view from Google Earth, as Far as townships and sections are Concerned?? I was curious and called One of the. Co.'s offer’n to buy minerals. He said Marshall co. Showed little to no drilling activity, Now or in the near future?? That’s Total B S from what u all say?? Are They just try n to lowball us dumb Smuck s???lol. His conversation Semi-depressed me…but I heard XO was movin 4 rigs to Marshall County??? Still confused. Thx David Rogers
David,
Add that guy to your BS list.
Go here to another part of the OCC website a find DRILLING PERMITS (1000),
SPUD REPORTS (1001A), and COMPLETTION REPORTSS (1002A)
http://imaging.occeweb.com/imaging/OGWellRecords.aspx
API# = 095
Effective/Approved Date = 1/1/2012 12/31/2013 (there where 46 drilling permits during this time frame. Some of these are going to be multiple wells, but to find this out you have to look for the Increase Density request on another part of the OCC site.
The form numbers are
1000 – Drilling Permit
1001A – Spud Report
1002A – Completion Report (Look at the top of the 2nd page for Oil and Gas flows.
David,
Here are the Drilling Permits since Jan 2012 for Township 5S Range 4E
2 in Section 5
1 in Section 6
2 in Section 9
2 in Section 17
I am sorry that I did not see Mr. Ron McKenzie’s question three weeks ago. I always check in when I get a notification, so I must have missed it somehow. I have participated in three wells so far, at about an acre apiece because that is all the cash I could pull together each time. Two are in Johnson and one in Marshall County. Sections are 3-4-4, 21-4-4, and 4-5-5. In 3-4-4 Bankers Petroleum drilling records showed good hydrocarbon, and the Oklahoma Geological Survey map shows that section in the highest oil content part of the Ardmore Basin. But sadly the casing would not hold pressure and in spite of months of trying they could neither fix it nor pull it back out nor grind it out of the way. So that well was plugged and I lost my investment. The next well was 4-5-5 drilled by XTO. It has done very well. The portion I could afford to participate in brings in approximately 4 times what my leased portion does per acre. Next was 21-4-4 also XTO, and it has done even better, but my total share is tiny. Even so, the extra income from the two good wells is allowing me to participate in more acres in the 5-5-5 well XTO has drilled. I don’t have information on it yet because it is getting to “do-over” the forced pooling which Chesapeake seems to have done wrong when they were in charge of it. If I am able to participate in all the acres I did not lease (1/4), I expect to make twice as much overall as I would make if I just leased it all. There is a lot of talk on the internet that these wells drop production much faster than was thought a few years ago, but once the initial big production drop, mine has leveled out like I was expecting from the earlier information. The producing wells are less than one year old, so I am trying to make plans based on the more recent less optimistic opinions. Unfortunately I don’t have enough acres of mineral interest to become a Beverly Hillbilly, but I hope to be able to retire earlier than just depending on my pension would allow. Of course I have to take into account that as a participant my risk is greater if something goes wrong and hurts some adjacent property owner.
Cooper We have participated in wells in several counties going back to the 1980s . Be glad to answer any questions I can. Would send phone # if you like .