I think his office phone is 918-762-2501.
Mike Donley was actually a pretty nice guy–but landmen are paid to be nice! The power behind the landman is an unknown quantity at the leasing event. After the lease is signed, then the talk about pooling and saltwater disposal and spacing unit determinations really begins.
I just got an offer for Sec 5 Township 17N Range 4 east. It says $1000 per mineral acre if your interest is on a 3/16 lease. What does that mean? As far as I know the mineral interest is not leased. Are they trying to buy my interest in a lease, or the mineral rights before they are leased? Thanks.
Hello Katherine,
What you have, I am sure, is an offer to buy your minerals. I don’t think I’d sell, as the show isn’t about to be over yet. We’ve received the same, and others have as well.
Regards, Steve Davis
Hey Alice, can you post the link for the Mineral Owners site you referenced?
The Oklahoma School Land commissioners lease oil and gas mineral rights via auction every few months. In 2011 there was quite a bit of activity to cover Pawnee county and the offered leases were up to $727/acre. At this rate, I think the oil company got a 100% lease with nothing held back for the landowner (state of Oklahoma). http://www.clo.ok.gov/
Look at the oil and gas lease auctions. I think Mike Donley mentioned that he was leasing for Crow Creek Energy.
I just paid the 35 bucks and got my stuff by mail. I can look things up for people if you’d like. I don’t know if landmen and all these people actually use it or if it helps exposure of your minerals, but the information isn’t bad and I’m just trying to get as much knowledge as possible 'bout all this!
What do you think the chances of drilling really are? I’m wondering if this is all just speculation and we should hold out or just take what I can get because something is better than nothing. That’s what all this is about, I suppose. Just headache-y to deal with this. John, I can’t believe you’ve done it for over a year!!!
Just an update- I’m still working on the lease terms. The lease was very, very open-ended and vague. It wasn’t terrible and no really tricky wording, just non-specific boilerplate. I sent one with a lot of revisions and we shall see what they come back with. Right now for 160ish acres in two areas their current offer is 200 3 yr and 3/16th with the 2 yr extension at 250. No 1/5 to be had. They started at 125 3yr/125 2yr ext and 3/16.
They really push back against anything more than 3/16. But, with a lot of discussion and work, I did get an offer for $75 and 23%. This was for around 450 acres in various sections. Alternately, they verbally offered around $200 and 3/16. I am still trying to get 25%. There must be something here or the leasing activity would not have lasted so long and the offers would not be steadily improving. Our first offer early in 2011 was for 1/8 and $25.
I think things will continue to be active until they drill a few dry holes. Up to now, the drilling is not very widespread. The drilling is just getting started. I think it is interesting that “Catoosa Test Facility” has opened shop near Hallett. They have made significant investment and have two drilling rigs there on site. This would not have happened unless something was underway. Additionally, when you google Mississippi Lime in Pawnee County there seems to be quite a few entries.
There was a significant find last fall just south of McDonalds on the Cimarron Turnpike. The lease operator had Halliburton (or Schlumberger) log the well and they found over 800 feet of pay zone. The well was a horizontal well and the Halliburton estimate of original oil in place was 58 million barrels under that ONE section. They have now drilled an offset but no information has been disclosed so far.
My guess is that the fun is just beginning. However, that is what it is–a guess from someone who has no direct involvement in drilling or production. The history of a lot of oil fields suggests that oil companies will downplay the activity until they get enough acres tied up by leasing. In that sense, they seem to be quite sneaky but I would probably do the same thing if the roles were reversed.
Someone once told me to sell 1/2 of my interest if I did not know what to do. If it busted, I would be happy I sold. If it turned to gold, I would be happy I kept 1/2. I think it just depends on your individual situation.
Yes, am in 30 and Red Fork is telling me next year. Said also there is a bunch of baloney going around about what is or is not happening with their prospects.
If you are in 31 that puts you South of us, not West, the bottom SW corner of Pawnee County. West of 30 is Payne County. East of us is 29. The people I spoke with at Red Fork were rather exasperated, it seemed, with phone inquiries on what was going on, or about to happen. They expressed hope that folks would be patient and just wait.
Good for you I suppose.
I own a partial interest in 245 acres of mineral rights in Sec. 20-20N-7E. This is located just east of the Jennings cemetery and extends east toward town or Highway 99. I recently received notification of an application before the Corporation Commission to authorize drilling of a 640 acre spacing horizontal well by New Gulf Resources. The target depth is 3,085 ft. I am totally unfamiliar with this company but from what I can find, on the web, it is small and has been drilling horizontal wells in various areas, including Texas. The office of New Gulf Resources is in Tulsa. From what I have read, there is considerable interest in drilling in the Mississippian formation in Pawnee county. However, there doesn’t seem to be much information concerning actual drilling results. Does anyone have any production data for wells in this area or is the proposed well one of the first scheduled to be drilled?
I recently noticed that New Gulf Resources had purchased about 4,700 acres of leases, in Pawnee County, in an auction of state owned land. This was 97% of all the Pawnee County land up for auction. Out of curiosity, I decided to visit the offices of New Gulf Resources, in Tulsa, to see if they might share any information about their drilling plans. Surprising, I was able to talk with Tracy Pool, President and CEO of New Gulf Resources. I learned that they planned to begin drilling on Sec. 20-20N-7E, within a few weeks after Corporation Commission approval. The hearing is scheduled for May 15,2012. I questioned him about the Mississippi Lime well south of the Maramec McDonalds that I had read reports of. I was confused about the reported 8,000 ft depth versus the 3,085 ft depth for their proposed Mississippi Lime well only a few miles away. As I suspected, the 8,000 depth probably includes the length of the lateral drilling horizontal from the main well bore. Looks like things could soon get interesting.
Anyone know where Red Fork (USA) Investments Inc., Tahara No. 1-28H Well, S/2 S/2 SE/4 SE/4 (SL) of 21-20N-05E is located? I don’t have a map.
Hello Curtis, I believe that well is about 1 mile East of SH18 on VFW Road. Steve Davis
Hi folks. My property is Pawnee county 16-22N-4E. I’m kinda new to the topic of mineral rights but fairly comfortable with the drilling process. Brand new to the site although have been looking for something like this for a while. If ya’ll know anything interesting about my area I of course am interested.Thanx.
Larry
anybody else waiting on Highmount to get started?
The Tulsa World, on 5/8/2012, published the following production results for the Tahara No. 1-28H Well, S/2 S/2 SE/4 SE/4 (SL) of 21-20N-05E, 240 BOPD, 260 MCFPD, TD 8,139 feet Sure hope the productive zone extends a few miles further east where I have mineral rights in in 633 acres.