I have mineral rights in Grady Co. OK, Sec. 34 9N 6W & was wondering what a good price NMA is there? Can someone give me any info. I was also told that a horizontal well was drilled from another Sec. into Sec. 34 but that was almost a year ago and we have not received anything from it. Can any other company lease in that Sec. now? Janna
http://imaging.occeweb.com/OG/Well%20Records/1DD835EF.pdf (Permit to Drill)
http://imaging.occeweb.com/OG/Well%20Records/0057232A.pdf (Spud Nov. 8, 2018)
I don’t see an active date yet for the Ragsdale 1H-34… Operator is Travis Peake Resources
Last mineral deed sale was for $9,768/acre (1.638 acres) on 9/1/2018. Don’t know if that is a good price or not.
Don: Thank you for your response, the offer to buy you refer to is over $2, 000 more than we were offered about 2 years ago. Now we have an offer to lease for $3000 nma 3 years & 1/5 royalty. It sounds like a good offer, however this is the first lease offer we’ve had & we haven’t accepted a first offer before. I’m wondering if we should hold off for awhile. Janna
Yesterday I got an offer of $3,250 nma in Grady 34-9N-6W, previously offered 3,000. Called the first one back, he offered 3,500 nma & said don’t sign with the other company yet. I don’t know how much to wait for. I’ve been told they can force pool, if we do that do we get the highest or lowest offer & royalty?
If you there is a forced pool, the Oklahoma Corporation Commission will determine the bonus and royalty. Typically there are three options, largest bonus for a 1/8th interest and smaller bonuses for larger royalty. If you don’t choose, then you are automatically delegated to the largest bonus/smallest royalty.
Looks like $12,500 per acre in an earlier sale.
Book: 5445 Page: 101
Document Date: 7/2/2018
Recorded on 7/2/2018 10:33:00 AM
Consideration: $125,000.00
This site will show what has happened in Grady County. I try and keep up with what is going on there.
I did some research on mineral appraisal companies. Here some you may want to consider:
Petroleum Evaluations Group Gustavson Turret Herco
Thanks for your reply
I am questioning a 71% difference in royalty payments between what is reported the commission’s pun report and what is reported on my check stub. I called and emailed the operator and was told they only marketed 29%. I asked where is the other 71% no reply. I know that the former operator paid the full royalty because their check matched the pun report and that they sold it to the new operator. Anyone have any idea of a path to take to get paid for the full amount. 12X13 Cleburne Grady County This is not the first problem we have had with the new operator The old and the new operators both put us in suspension even after we sent our division orders back. It has been going on since May of 2018 first sale. We received our first check in Feb 2019. Anyone else in this well having trouble??
I, would likewise contact the OCC starting an Official Paper Trail.
Good idea John . I will start that process next week. Thankyou
Your Welcome, Phyllis.
If not already noticed, down on the lower left corner of the page that brings up the Otctaxportal for the PUN there’s an Internet Contact Addy for the OCC which is revealed after clicking on “Contact us”.
I , have used it once and they promptly replied. And, directed me in how to proceed. There’s a Gas well that shows “Active” on the PUN which for sometime been showing 0.
I, learned from them that : Low production wells ARE NOT required to be Reported on;and, Maybe the reporting company is Reporting BUT UNDER A DIFFERENT. API#. And, I should contact them and ask. I, contacted them for a report showing production and payment Histories. They sent one for Production ,but begged off on the Payment History because Chesapeake had it then while payments were being made. So, I turned right around and asked this New Owner, Bluewater Resources what they were going to do since there’s a Market for Gas, a pipeline delivery system is Already in place; and, back in '99 when the Well was drilled XAE had stated when this Well played out they would move across the Road and Drill on Our Old Home place.
Haven’t heard back from them.
John
I just sent a complaint to O C C. explaining the problem. Thanks again. The well is not a big producer but 330, 000 dry gas per month is not that little.
Phyllis: our group was also paid for only 29% of the gas produced and reported to the OCC Tax Dept. when we called and they emailed us back their only explanation was that was the percentage that was marketed. Doesn’t make sense that they report production sold to the state but tell us only 21% was marketed. I wonder if anyone else that has leases with Camino has checked the OCC site against what they were paid? We are also going to file a complaint with the OCC. don’t know how involved they will get but maybe they will be of help.
Carolyn, I contacted a cousin and they are going to get back to me. She hasn’t gotten a check from Gulfport or Camino. Wonder how many just aren’t staying on top of things.
I bet there are quiet a few that aren’t getting correct payments or any payments at all!!
I recently received an offer to purchase my mineral interests in Gray County Township 05N Range 05W. I’m puzzled that the buyer disclosed that they’re actually buying for the operator and disclosed the name of the operator. Isn’t that in effect telling me that there’s pending interest in developing these minerals and encourage my not accepting the $10,000/acre offer? Are they required to disclosed their agency relationship?
If the operator is buying, then I am hanging onto my minerals. It does hint strongly that they are about to drill, they like the area and they want more royalties for the well(s). I would rather have those royalties instead. Quite a bit of horizontal drilling in 5N-5W.
Thank you for the reply. Actually, my property is in section 4 and the only well I could locate begins production in Section 3, extends to section 10. I understand Camino has applied to rework old vertical wells in 4 to develop them into horizontal. Could I locate that info on the OCC website?