If they are offering $5000 then rest assure it is worth five times that just in the first year of your royalty checks.
I have an Eleventh Commandment: "Thou Shall Not Sell Thy Mineral Rights"!
Converse County is still lacking in infrastructure to get the oil & gas into pipelines. Once they get that infrastructure built. I think Converse County Drilling will BOOM!!!!
Stay Patient!!
Bill
Shawn Sturm said:
Smith Creek (Deep) Unit -- my family has received an offer on minerals for $5000/per acre. I have read posts of activity in the Smith Creek area dating back to June 2013. Are there other mineral rights owners who can share knowledge of present activity in the Smith Creek area? It seems like something very positive is happening in this area. There are apparently no permits for wells, yet we're getting sizable offers to purchase.
One tip I read said great expense has gone toward duplicate seismic research. Land managers surely are privy to such kinds of information that allows them to make appropriate and wise offers to mineral owners. Most land management companies communicate they are merely speculating. I suspect they know something we don't. It makes me more excited to hold on to the rights tighter and learn more about progress. Can you share more about what you know? Thanks in advance!!!! -- Shawn
Bill, I appreciate the feedback. I like your 11th commandment! We will remain patient. Shawn
So well worth it!!! It cost you nothing but can produce millions. What is even more important is the mineral rights can be past from generation to generation so that your grandkids and their kids will be as blessed as you are. Instill in them the importance of how those rights can change their future and the future of those to come but if they are sold then they will not be passing on the rights they were left to them which actually just steals from future generations.
Stay Patient and realize that even without a well, every 5 years you will receive a nice unearned bonus with love from those who have passed them on!!! Also do something special on their behalf and the blessing will be granted many times over!!!
Have A Blessed Day,
Bill
Shawn Sturm said:
Bill, I appreciate the feedback. I like your 11th commandment! We will remain patient. Shawn
We have a small amount of mineral rights in Converse County and have been made an offer to buy our mineral rights from a company in Dallas, Tx. Has anyone heard of PonyOil? Our area is twnshp 35N Range 73W 6th pm
section 22 nw 1/4 nw 1/4 Is any activity going on in this area?
First and foremost, DO NOT SELL YOUR MINERAL RIGHTS! Most companies making offers out of the blue normally are offering pennies on the dollar.
I can give you some suggestions on leasing minerals in Converse County and with companies who are currently active. I will tell you that I recently leased some minerals at $500 an acre with the most active company in the county. I sent you a friend request and I can share some more detail information.
Thanks,
Bill
Alana Traub said:
We have a small amount of mineral rights in Converse County and have been made an offer to buy our mineral rights from a company in Dallas, Tx. Has anyone heard of PonyOil? Our area is twnshp 35N Range 73W 6th pm
section 22 nw 1/4 nw 1/4 Is any activity going on in this area?
Alana:
http://wogcc.state.wy.us/well9sec.cfm
The link above will take you to the Wyoming Oil & Gas web site. I searched to see what wells were in the 9 sections surrounding T37 R73 Section 22. Chesapeake, EOG and RKI are have wells permitted in this 9 section area. RKI has 2 active wells --- 1 in Section 15 and 1 in Sec 16. The other wells don't look active ( not yet drilled -- permit only).
But who know what the future holds. If some company is trying to buy your minerals, they know more than you do. Drilling in Converse County was cut back in 2014 because there is not enough gas processing capacity. Wyoming law only allows flaring for about 15 days. Then the well must be shut in to await a gas pipeline. And once a pipeline is in place, gas processing plant capacity must catch up to demand. Same goes for trucking oil. So 2015 - 2016 should be more active years for drilling because all of the processing facilities for gas and oil will be put into operation.
I would follow Bill Osborn's advice. Converse County is still in the early stages of development. You might be lucky and you might not. But there is some reason companies are trying to buy your minerals. In my opinion, those companies know more than any of us know about the value of our minerals.
In our case, if I go back 3 years, there was a approved permit to drill one well in Sec 17 down into Section 20 next to our minerals in Sec 20. Now we are participating in 4 active wells --- 1 in Sec 17 and 3 in Sec 20. CHK will probably drill 3 more wells from that same pad in Sec 20 and most recently a new pad is being staked to the West of us in Sec 21 which might offer us participation is more wells. Who would have known that 3 years ago -- not me for sure.
Good Luck!
John Linden
Alamo, CA
John Linden
Alamo, CA
All the info seems to be from 2013. Aren't there any updates?
Calling for any updates!!! There has to be some update from Fall 2014!
As of November 2014, I am continuing to have one company actively offer to purchase our mineral rights in T34 R69. I have also had a couple of letters arrive in the mail with " generic " offers to purchase our minerals. The original offer has increased some. We have not sold. We are in an active area. We currently have small participation in 4 wells. In the 8 sections around us, CHK has applied for permits to drill 9 more wells in the last 60 days. I don't think we will participate in any of those 9 wells but only time will tell. CHK appears to like the general area. I don't know if the recent lower price of oil will affect CHK's planned drilling or not. Not much else to add. Understanding Chesapeake's drilling plans is not easy. Month by month what CHK plans to do is slowly revealed as they apply for permits.
We are in section 9. My siblings sold their mineral rights. There are 2 shut in wells; one on each side of us. The company that bought the mineral rights said CHK has left the area…yet they continue to “spread their risk” and purchase more mineral rights…they must know something to offer on one occasion $6094 per mineral acre. We are not selling. Is there any permits in section 9 or any infrastructure being put in place?
Shawn:
Section 9 in what Township & Range ???
John
it is Township 32 North, Range 70 West, 6th P.M.
Section 9: S2N2, N2S2
Your minerals are in the Smith Creek (Deep) Unit. There are about 6 completed wells in Section 6, 1 in Section 10 and some recent wells with a permit request in Section 8. All this info is easily available on the Wyoming Oil & Gas site. I don't see anything in Section 9 but who know what the future holds. Bring up the Smith Creek ( Deep) Unit on the Wyoming Oil & gas site ) click on units and then type in SMITH CREEK ( DEEP) and then click wells look at all the wells in the Smith creek Unit. You will see all complete wells and those with approved permits and those where permits have been applied for but not yet approved. If there is an approved permit, click on the permit. It will open up. Roll down to page 2 of the permit and it will show a map of the planned well and its location with all the necessary info to determine the length and direction of the horizontal well. If you don't know how to do this, it's easy to lean and given your interest in Sec 9, its a good idea to check and see what is happening on a monthly basis. Good Luck! John
You’re so kind… Thank you for the information.