My sister & I own mineral rights in Sections 16 & 34 of Grady County. After several years of no one showing interest in leasing, we just received an offer. We are total novices at this and wonder if anyone on this forum has information about current activity in these areas, prices per acre, oil companies currently leasing, etc. The letterhead on the offer isn't anything I've heard of and, with all types of scamming-type activity, I'm afraid to jump in without more information. As I said, we're novices so, if you reply, please try to keep it in simple, non-technical language. Any help will be very appreciated. Thank you in advance.
Who is offering? What is the full legal description of your minerals. Example 34-8N-7W.
Need to know the section, township and range of your mineral interest. You also can learn a lot from going back in the blog and by searching key words in the search box in the upper right side of the page. There are quite a few knowledgeable people here. You may also want to follow the neighboring counties on the forum. Stephens, Gavin, Canadian counties. Good luck...
We have 16-4N-8W and 34-4N-8W
The offer was from K-ROCK Properties for Norwich Petroleum but he also mentioned Eagle Oil.
Carol a 1/4 royalty has be given close by and the terms of you lease can be more important then the bonus. Keep coming back to the forum for help as you go along.
Mr. Streetman this is not the place to solicit business.
Carol, be careful who you trust.
Carol Falis said:
We have 16-4N-8W and 34-4N-8W
The offer was from K-ROCK Properties for Norwich Petroleum but he also mentioned Eagle Oil.
Thank you Michael. Frankly I find it pretty much impossible to really trust anyone these days. It's more who I decide to take a chance on.
Do you have any information on the names I posted above?
Thanks again.
Michael Hutchison said:
Carol, be careful who you trust.
Carol Falis said:We have 16-4N-8W and 34-4N-8W
The offer was from K-ROCK Properties for Norwich Petroleum but he also mentioned Eagle Oil.
Carol, when I google K-ROCK I find several radio stations using that name. There is a K-Rock Properties in Iowa. Norwich Petro is in OKC and listed as a pipeline company, very little information and no website. I found several variations of Eagle Oil and Gas, didn't come up with much. In checking the county records the last leasing in those sections was in 2009, most of it by Continental Resources, one of the top operators in the area. The standard lease is three years, so I'm guessing the leases have expired without drilling. My opinion is these guys are speculating and trying to get some cheap leases that they can turn for a profit in the future. They probably saw your final decree on the County Records. I would wait for some more offers to come around before making a decision. I found nothing that says there will be drilling in those sections in the near future. Follow the Grady County main discussion group and feel free to ask more questions.
Thank you again Michael. You have confirmed the feeling I've had since we first got letters from Charles Rogers a couple of weeks ago. It just didn't feel right. Then yesterday he called my sister, only had part of our information and he had part of that wrong. His first offer was for $400 an acre. My sister told him that I had been doing research on the internet and within a couple of hours he was up to $650. The lease he mentioned to my sister was for 3 years, 3/16. Then he told her he wanted to talk to me and was going to call today but he didn't (maybe he read this board). Like you, I had Googled all of the same information plus his name and couldn't make a connection of a radio station to mineral leasing. I did find some links to a few different Charles Rogers, one of whom is a state official. I have a lot of the receipts from previous leases and most of them were from Continental. For now I'm going to just keep reading.
Michael, after rereading our last posts I feel like I need to apologize to you. In my last post I misspoke when I said I had Googled ALL of the same information that you had. That sounded like a real smart alec which I guarantee I am not. I had Googled K-ROCK and Charles Rogers and followed a lot of links on both of them. You went much further and, even more important, you understand what you're reading. I appreciate the time you took and the information you gave me in a manner a novice like me could understand. We did get leases in the mail yesterday with the $650 and 3/16. On top, the money is tempting but my sister and I are still gathering information and trying to digest it.
Carol,
from information I have received in the past from my brother that lives in the Wichita Falls area Eagle Oil and Gas(Wichita Falls, Texas) is a very good company to do business with. Honest and will do what they say. My brother was in the oilfield supply business in the past in Wichita Falls.
Clint Liles
Carol, I would be glad to take a look at the lease next week and provide my comments to you about it.
The lease language could be more important than the bonus they are offering.
Thank you Clint. That's good to know.
Clint Liles said:
Carol,
from information I have received in the past from my brother that lives in the Wichita Falls area Eagle Oil and Gas(Wichita Falls, Texas) is a very good company to do business with. Honest and will do what they say. My brother was in the oilfield supply business in the past in Wichita Falls.
Clint Liles
HERE HERE THANKS !!!
Michael Hutchison said:
Mr. Streetman this is not the place to solicit business.
perhaps there is information regarding the use of this chat room if so please direct me so I might comply with your rules, thanks Foy Streetman
Foy, take a look at the menu tabs at the top of the page. I believe the Home menu address's a number of topics and the Marketplace is for buying, selling and leasing.
Thanks for the help, I appreciate being part and what to help in every way I can to add value and meeting for all using this