lease. $1800 per acre with 3/16 royalty is our high offer. should we choose the higher royalty? Is this new drilling? what about Natural gas in the area?
Personally, I always ask what their offer for 1/5th and 1/4 will be. I usually go with the higher royalty. Ask them who they are leasing for, what percentage of their leasing has been done, when will the force pooling be filed and get a copy of the intended lease. It will need some negotiation to improve it to your favor. Several clauses will need to be changed. Ask them their intended target. You can have oil wells with associated gas or gas wells with associated condensate. The answer will depend upon their target.
Where would find your spreadsheet for potential payouts? I’m new to this site but have some questions that I need to answer fairly quickly. I have 3.2 acres in Stephens County 25-01N-04W and I’ve been given a couple of offers for purchase. I know Continental is going to be drilling some horizontal wells there soon and am trying to decide if I should sell or just hang on to what I have.
Thanks.
Hi Martha, I’m not savvy with this new site format so I’m trying this path to reaching you. I have received several offers by mail and phone for my interests in Stephens Co sections 8 and 17 1 N 5W. This increased interest makes me wonder if there are concrete plans taking place in this area. Do you have any knowledge of this? Diane Trafton
Cheyenne drilled the Bryant a few months ago in section 25. Might want to hang on to them
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I was told they are going back in to drill some horizontal wells in a month or 2.
Brant is a horizontal, it’s actually section 24;and 25. Continental is drilling the Leon right now.Leon covers sections 14 and 23, I was on location today.
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I’m mostly in 25 but have a small piece in 24 as well. I was told Cheyenne plans to fully develop 25, do you know anything about that? I know Cheyenne and Continental had to have a court decision on that and Cheyenne was awarded the decision.
Bryant 25-24 UW1H has already spud and is probably close to being finished. The placement of the well in the section indicates that they have left room for more wells in the future. So your thought process should include more than one well in the possibilities (and risk). The clue I see in the name is UW which is Upper Woodford. There may be wells in the Lower Woodford as well. Depends upon the geology there. I have the section next to you and am holding onto mine.
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89 Energy has a pending hearing for a horizontal well in section 4 near you. Pretty active leasing over the last year in the township, so interest in the area is still moderately high. Nothing specific at the OCC on 8 & 17. Gas prices are fairly low right now, so they may hang onto sections that are purely gas and wait to drill future wells later.
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Martha, here is where I have mineral acreage in Stephens and Carter county. It sounds like there may be action in all those areas soon. Do you have a sense that is correct or am I overly optimistic? Thank you for any feedback!
Carter Co. - 05-01S-03W Carter Co. - 06-01S-03W Stephens Co. - 24-01N-04W Stephens Co. - 25-01N-04W
Carter Co. - 05-01S-03W. Casillas, Echo, 89Energy and Roan all filed cases. Echo and Roan have been dismissed. A few of 89 Energy have been dismissed. Casillas and 89 Energy remain. Casillas is more of a drilling company than 89 Energy so far, so will see what happens. Sycamore and Caney, Woodford
Carter Co. - 06-01S-03W Echo and 89 Energy have filed cases. 89 Energy had a couple dismissed. Mostly Springer and Caney, Woodford. 89 Energy has the pooling approved.
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Stephens Co. - 24-01N-04W -Continental and Cheyenne Petroleum have cases. The pooling cases were combined.
Stephens Co. - 25-01N-04W- Goes with 24. Same thing. The Bryant well has already spud for 25 & 24 and should be about finished. (Woodford). Cheyenne is listed as operator.
On all these sections, you should be getting all the mailings if you are a mineral owner. If not, then let me know and I can give you the attorney contact for the cases. Is your name and address filed with the county clerks?
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Thanks for replying. I am getting a lot of letters from a lot of different attorneys but I didn’t really understand what they were although since I’ve started using this website and doing some research I’m starting to learn.
Thanks again!
Put them order by Case number and date and they will start to make sense.
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Good afternoon, I’m new to this forum and wanted to get your advise on valuing our mineral rights in Gavin County Oklahoma. We have an unsolicited offer on our shares. Is this something you can help us with or lead us in the right direction. Howard
Welcome Please Post in Garvin, not in Stephens.
On question53 there’s a number to an attorney for people who have mineral rights in section 24 Township 1n 4w because we have received no mail since the signing of the ratification lease
I have mineral rights also in the. 24-1n-4w i would love to talk to the petition who handles that section
RIckey- You won’t receive any mailing for the Pooling as your interest is already leased and the poolings are for parties that aren’t leased or are leasehold owners that plan on participating in the cost to drill the well.
Not sure what you mean when you say “Question 53” or “talk to the petition”…
Respectfully, Todd M. Baker