I have mineral rights in Caddo County.
Sections 35, Township 11 North, Range 13 West, which has a producing well at present time.
Section 16, Township 11 North, Range 13 West, which we don’t have a lease on. There is a plugged well on the property. We were offered $1,000 per mineral acre to sell about 6 months ago and turned it down. Is there any leasing in that area and if so what are they offering? Is there any interest in that area at all?
Section 17 is where we have a producing well. We got 2,500 per acre to lease. SM Energy is the company. Hope this helps.
Is this a recent lease or was it several years ago?
Three years ago. They went deep in the Springer. Only gas royalties now.
Have you heard of any leasing recently?
No not that I know of.
The interest would most likely be in the Woodford shale in your area. However, it has two things going against it at present. First, it is extremely deep where you are (i.e., expensive), and second, it is dry gas. Cimarex is doing some drilling a few miles to the north and to the northeast, and they’ve hit some good, deep, dry gas. They may move your direction in future years.
Have lease on Township 16, Range 11, Section 13 had about 6 months. Don’t know if they are leasing now. Also have lease on Township 35, Range 11, Section 13 not paying much. Don’t know what’s going on there.