We recently inherited mineral rights on 5 acres in McClain County, OK, Section 8, Township 8N, Range 4W, S/2SW/4 SW/4 NW.
We are receiving offers ranging from $6,500 to $10,000 per net mineral acre. Are others receiving offers and if so, for how much?
EOG Resources is doing horizontal drilling and I believe this is part of the Woodford common source of supply.
Any and all info would be appreciated as this is all new to me!
EOG is planning to drill another three horizontal wells there-for now. That is why you are getting the offers. If you are new to the mineral rights world, slow down and get informed. Good place is right here. Anyone who offers to buy knows that they will make a profit off of you. You should be getting the documents from the OCC about those wells. They have some maps in there which show where the wells are planned. If you are not getting the documents, then you need to make sure that your address has been properly filed in the county so that you will get them. Obviously the land guys can find you. Yes, this is Woodford shale reservoir. I would encourage you to read the other comments in the McClain County forum area and get caught up on the activity, questions and answers, what other folks think about buying and selling. Also, go on the investor websites for EOG, Continental Resources, Newfield, etc. and see what is going on. EOG is one of the best in the business at drilling horizontal wells, so you are in good hands. If you need the contact info for EOG, reply back and I can give it to you.
Thank you very much for the information, appreciate your time.
Howdy I only have .625 acre in the same spot. Got the pooling order a couple of months ago. Get a couple of offers a week to sell from 6000 to 20000 per acre. Even though I own a small bit there are 5 wells there so Im going to see how it goes! Should get our first check about 6 months after first sale. They also may wait until all wells are done and going so could be longer. First well I think was spudded in April
I’ve got an offer for $1250-2000 per mineral acre in Carter county. RoughRiders LLC. Does anyone have any suggestions
TG-
Repost this in Carter County, OK and add the section, township and range. Also say what the royalty for those offers are. That will be more helpful.
Ok I’m new to this site I think I did but will double check. Thanks
I moved it over to the general Carter County area.
Thank you Andrew. It will be nice to start getting checks.
First sales were in August so should be within a few months