Check the leasing bonus in McClain. Some really high ones!
Excellent advice Sharon Miller–hang tight.
Rick - I provided some information under discussion forum above. Hope it helps.
lease at what rate? A well site will take up 5 acres and the land is worth a hell of a lot more than 2000/acre. The lease for the minerals is at an acceptable amount. It is just the surface I am concerned with.
John — Last few clients that I’ve had involved in water etc has been .50/bbl for water recently — both drill pad sites have been in wheat production ground with $10K for one site and $15K for another site that was in a much more valuable ground area…Kingfisher area…
What is the going rate for water well and drilling site. I was offered 10,000 for the site and road and 2000 for unlimited water from the well they might drill. It is primo land worth over 10,000/acre and I thought they paid by the gallon or the barrel for water. Also only 40/rod for pipeline. I feel like these numbers are very low. Anybody advise of good counter. I am thinking 20,000 per acre, 200/rod and 3/barrel for water.
Understand totally Joe — Not always a round or square hole to fit a peg into… And a well site is usually not on the plus side of a real estate development…
I think water is like .25-.50 cants a barrel. I would try to lease them the land.
Thanks for the info OKCNHRA and Joe S. My land is for real estate development s0 I want more. Land sold next door for 11,500 an acre and the commercial part sold for 100K/acre. I cannot accept 15000.
Thanks, JW
Pretty neat resource for anyone using Google Earth and struggling with legal descriptions— overlays the township/range/sections for you on top of the Google earth image — nominal fees and free to try:
I use Google Earth all the time but I was unaware of this feature. That is some very useful info. TY Okcnhra
Just keep in mind that earthpoint.us section boundaries are approximations only. Actual section boundaries may vary significantly, particularly around rivers.
Does anyone know of a attorney in Oklahoma that knows about Ancillary Probate or can help me through it from calif? Thank You in advance
I need some advice please. I have been offered $200/nma and 3/16 with 2 yr extension for my nma in Sec 26 T6NR2W. It is a small ownership but that seems really low from what I have read on here. I think it is BP offering. I never would do a 2 yr extension but I think I would rather see it go and be force pooled for that amount. Any advice would be really appreciated.
Frank — Agree 100% on the “approximations” aspects on just about “anything” that is not a “professional fee paid $$$$” visual service out on the net — good update caution!
No advice to give but for what it’s worth, I agree with your thinking!
John, The offer is in the ball park for that area of McClain. Do not take the two year extension. I always ask about their 1/5 offer as well. BP has pending horizontal wells at the OCC in 22, 24, 25, 27 so your guess is probably good. No pooling pending yet. No leases in 26 yet, so you may want to wait a bit and see what happens. Just FYI, BP has a SL pad in the lowest SE corner of 27 and they are drilling from there through the NE corner of 26 and then into 23. If they perf in 26, you should get paid. It is a tiny sliver, so they may skip perfs in 26, not sure. Called Millsap 6N 2W 26 1HX. Already permitted. Woodford well.
Rick, There is horizontal activity all around you with EOG and Newfield. Lots of leasing in your section. The pending offers indicate someone knows something. Hang tight and it will show up at the OCC soon.
I have been getting a lot of offers to buy Section 25 06N 03W. Does anyone know if there is activity in the area?