Getting up there in years I’ve decided on selling my mineral interests in Kingfisher section 29 & 31 but it seems like interest has pretty much dried up because of the slow down in oil and offers have also dried up. Has anyone else noticed this and maybe that prices have dropped a lot?
Hi John:
What is the rest of the legal descriptions? For the most part, prices have dropped like a rock. It is now all about location, location, location. The ship has basically sailed on the crazy mineral offers.
Description is: Kingfisher section 31-16N-05W 5 nma Kingfisher section 29-16N-05W 8.125 nma
Thanks John: Unfortunately doesn’t appear to be much activity in that area. Paloma does have a pooling for Section 32 that doesn’t expire for a couple of more months. So there is still some hope that that section gets developed. Good Luck.
Thanks Todd, I have trouble following things that are going on in Oklahoma. I do know that a while back Paloma filed for a drilling permit in section 29 to go to a deeper formation but haven’t heard anything else.
The pooling hearing for Paloma in 29-16N-5W is supposed to be December 3, 2019. The outcome of the hearing will give a timeline for drilling. 0 days if they dismiss it or usually 180-365 if they approve it.
Thank you very much Martha, I very much appreciate the information. I’ve been looking to sell my minerals due to age & health but find that offers are about as scarce as hen’s teeth in the current market. I’ll be looking forward to seeing what happens with the Paloma request in December.