Anyone dealt with Forward Land LLC out of OKC, or Warpaint Resources out of Frisco, TX? I received a lease offer from them for McClain Sec. 9, 5N 4W for $450, 3/16, 3 yr + 2 yr option. From what I've read at McClain board, this could be a low offer, but I'm more interested in making sure Forward Land and Warpaint are reputable. Thanks in advance for any info you may have.
I signed a lease with Tapstone in Dewey County through Forward Land. Dealings with Forward Land went OK and I have a favorable impression of them.
Thanks for the info, Stephen.
Where do I can I go to on the forum to put my mineral rights on to try and get a lease for them
Linda,
this link will take you to the 'MARKET PLACE'
Thanks Clint
Has anyone here done business with L3 Resources out of Houston, TX? (They also have an office in Oklahoma.) They called me wanting to buy mineral interest acreage; when I told them I'm not interested in selling they moved to wanting to lease. Their company info says they started business in 2014; would like to get some confirmation that they are on the up-and-up and not "flippers." Thank you in advance for a response.
Hello, I was offered a lease in Woodward Co. for $300 an acre. I recently got my receipt for renewing my mineral rights registry and on the back it states that Woodward Co. leases are $1250 for top dollar and $800 average. My question is am I getting lowballed and should I try to renegotiate before signing this lease? I do not do this much so I was asking for some guidance from someone that does. Thanks so much for any information or help!!
Scott
Scott you might go to the Woodward County group and post the same question, You need to list the legal to make sure what is happening in the area around you
Where in Woodward County?
The price range is diverse across the county.
I find it’s typical to be given a low offer at first. I recommend trying to negotiate. Telling them that you’d like to get fair market value. Make them a higher offer.
R Story,
I will get you that info asap. In the last few weeks I have had 5 or 6 companies wanting to buy my interest. Obviously something is going on there. I just want to be paid a fair amount for the lease. They will be making a ton of money off of it so I want to be paid accordingly.
Hughes County Okla by Jackfork Land Inc for oil & mineral rights... I need to split my deceased brother's portion among his 3 children... two of them were adopted & they no longer carry the family name... does anyone know if they have a right to their portion of the settlement? also, I am new to thins does anyone have any other advise regarding this settlement?
Whatever your brother’s wishes were would dictate the split (names should not make a difference). So sorry for your loss. An estate attorney can be consulted.
I received division orders for 3 wells and noticed that the "DATE" and "EFFECTIVE DATE" both say 1/1/2013 - long before our lease was signed. I've asked White Star about this but so far haven't received a response. Does this date have any real significance? I just didn't want to return my signed DO until I knew.
I receive a small check for wells in OK, and have not paid any taxes. I called a county clerk and they said OK does not tax minerals. Just checking to see if that is correct? I live in TX and they do.
Carol Dakan, you are correct. Once a year Texas will send property taxes on producing mineral interest. The state of Oklahoma does not.
Jayson Pruitt
Carol, that just doesn't seem correct. We receive royalties on oil/gas from Oklahoma and taxes are automatically deducted by the state. Maybe the clerk didn't understand the question. We can get a refund of some of the taxes since we're out of state. OK does have production taxes.
Okla just taxes the production on the well and Texas charges personal property taxes on producing minerals so you are correct Carol. I know this for sure, have producing minerals in both states.
You can also refer to the Oklahoma Tax Commission Oklahoma Production Tax and filing requirements