My wife has mineral rights in Blaine county S3 T18N R12W , S2 T18N R12W , S35 T19N R12W We have received paperwork for an emergency order hearing for Carrera energy. Not sure what it’s about this is new to us. Also have received offers to purchase or lease but seem low 2650.00 per acre § 650.00 + 3/16 (L). We do not want to sell but lease seems low. Is there any activity in any of these areas? Are others getting similar offers? Any info would be greatly appreciated. Thanks,
P Johnson
Philip,
Sec 3 18N 12W has three pending hearings. One for a horizontal well, one for location exception and one for pooling. All good news for you! The hearing dates are for August 17. (They may not actually happen that day) The well is for the Mississippian and the Woodford.
You may lease before then or you can wait for the Force Pooling which will give you a set of bonus and royalty options-usually 1/8th, 3/16th, 1/5th and maybe 1/4th. You will only have 20 days in which to answer which includes weekends. Force Pooling has some nice advantages. It will be limited to only the Miss and Woodford, will have a one year (or 180 day) term and from my understanding, no post production deductions for the gas.
Your prices are confusing. Did you get $2650 to buy or was that your total from $650/ac and 3/16ths?
If you want to friend me, I can walk through the pros and cons to leasing and force pooling.
Thanks for the reply Mr Barnes the 2650.00 is for purchase per acre the other was for lease 650.00 + 3/16 @ 3 year term. I believe S3-18-12 is 40 acres. We know nothing about this process so any help or advice is appreciated. I sent you a friend request I hope I did it correctly. Thanks again.
Trent, please abide by the forum rules and post in the market place.