Pawnee County, OK oil & gas discussion group. Share your experience regarding lease bonus, royalty rates, drilling activity, and oil & gas news.
Section 4, 20 North, 8 Eastā¦Had an offer to lease it last summer, I didnāt take them up on it b/c their offer was garbage(IMO)ā¦Still waiting.
Weāre neighbors I suppose. Iām in 30. Were you contacted about the seismic surveyā¦well perhaps you just have the minerals in 31, right?
They indicated the survey would take place starting sometime next month.
Hi everyone! Are you in 31-20N-5E Gary?
We hope they get it on soonā¦will make up for the lousy bonus we signed on for. Dusty Muggenborg has been keeping us up to date some. We drop in at his fine eating establishment in your fair city occasionally.
We own the land and minerals in NW30ā¦we leased too early, however, had not any previous activity up there for quite a while. They are getting ready to do a 3D seismic survey South of the turnpike, and West of 18.
Yes Gary, weāre with Red Fork. Hope they drill bountiful gushers all over! Weāve not heard from their landman. However, Iāve not phoned them either.
Hello Alice, The company offering to lease, will bring you the offer on a lease form. Donāt know how many acres you have but it appears they have offered as much as $250 an acre latelyā¦ they signed us up early on, and feel rather taken advantage of now at $50. and quite a number of others too. But in the past, you were darn lucky to get even that! If you also own the surface, that is a plus.
I received an offer for some rights I have in 28-22N-7E and 29-22N-7E. I have producing rights in a couple of places in OK, but never had to do a lease from ground up in OK (did some in COā¦ but every state is so different it seems). I guess Iām looking for some reassurance that there arenāt any running scams going on currently in Pawnee and any advice from people who have rights there and have done/are currently leasing there. Iāve never dealt with people who werenāt āfriends of friendsā or somesuch before and I guess Iām feeling paranoid and looking for some reassuranceā¦ thanks for any help or advice in advance!
Steve, thanks so much for the reply. So, everything has been going cleanly? I have 160 acres there, and theyāve expressed interest in 140ish of them. So, itās not a huge amount, butā¦ why not. Iāve checked out the stuff Petro is doing and it seems that itās a good opp. Silly question, but Iāve been reading that if you have āmoreā itās better than if you have lessā¦ but is 140 more or less in this area?
Would just imagine they are interested in what they can find that theyāre interested inā¦ you know some mineral interests are so chopped up after being divided by heirs after a death that some people own a 1/2 percent of something. So if you own the whole 140 undivided, you have a good interest there, I would not sign anything without trying to compare first with others in your area. However, you may have already received a good offer.
Steve, thank you again. I do have those rights undivided and actually, the latter bit of your post is why Iām here. Iāve lived/worked overseas a lot and now live in CO and have never lived in OK or know any of the people who own the adjacent areas. Been trying to research all of that, probably things I should have done before. I didnāt realize that everything could be split so much, thoughā¦ that must be such a pain for the landmen to track everything down. Is there more than one company going around looking for the rights? Andā¦ of courseā¦ thanks again for all the insight!
Hi Alice, It is nice to have this site to fall back on. Wish that I had such when we received notice they wanted to lease us at the end of 2010! There is probably more interest at this time in Pawnee, Noble, Payne, Osage and other near by counties than there has been since the 1920ās. If you own the surface too, Alice, thatās a plus.
Regards, Steve
Hi Alice. I have some mineral rights in Section 5, 21N, Range 7E in Pawnee County (about two miles south of the minerals you referenced a few days ago. We had an offer to lease but the best I could negotiate was 22% royalty plus a small signing bonus. We chose to not lease because we prefer to not have an oil well near our house. I am wondering if you leased or not. Which company was offering to lease?
Hello John. Itās Corvus. I wish I knew who theyāre buying it up for, the landman that Iām working with canāt/wonāt say. Iām finishing up some title stuff, but then will be taking a closer gander at the offer and the lease. We shall see. Iāll definitely give any information that I can get out here. Iād be great if we could get the Mississippi formation down a little. Itās producing pretty well.
Gahhhā¦ forgot to ask, John, when were you given your offer? Also, I looked up Corvus and they are snagging leases all around me. Itās nuts. Theyāre signing up multiple people every dayā¦
The lease agent was named Mike Donley. He worked for Corvus, I think. The offer was in fall 2011. Supposedly he was working for someone who was āgoing to investorsā to obtain money and develop the lease. Seems like he had some prior success developing a field and then selling out. His boss was someone named Maurice Storm. They offered 23% royalty plus $50/acre. They also threatened to pool us if we did not lease and suggested that they would keep any saltwater disposal well off our property. I personally think the interest was to gather a large acreage and then sell to someone like PetroQuest. Right now there is a lot of money being made by buying up leases and reselling them. Mr. Donley was hesitant to tell us who he was working for but I think it was some outfit in Tulsa.
Before signing a lease, I would sure have a lawyer review the document. Bill Perry in Pawnee does quite a bit of this type work I think.
John, I donāt live in OK, but would you message me Bill Perryās information? Iāll take all the help I can get!
Iām sorry to hear that they were being such irritating people. Iāve been following Corvusā leasing and the selloff that you suggested is what I believe is happening as well. Petro seems to be going gangbusters, but who knows when real drilling will happen.
Those threats to you make me rankle a bit, I must say. Getting irritated just thinking about that. That does seem like a very low bonus offer. I joined up on a mineral owners site and you could easily get 3-4x that. I believe. The royalty percentage is pretty nice.
I hope that when/if you do lease you get good terms and bountiful wells that wonāt be an eyesore (and donāt ruin your land)ā¦ thank you much for the help and Iāll keep people updated when/if I finish up my lease negotiations.