It is a wise decision to not count one’s chickens at least until the rooster crows. The bottom line seems to be that you own the minerals either way, but how and how much you later get paid is a little foggy to me. I will see shortly from Ruffed Grouse over in Logan County. It would appear that if the court (Judge, our wisest of the wise, you know,) orders a certain percentage for a certain amount of front money, then if you did NOT sign, you would probably get that same amount. Take the Lease proposal line by line, exactly as the Landmen do, and ask for a verbal (phone) interpretation, and counter-offer with what sounds better to you. FEW people negotiate much of anything today. Communication is the key to everything, TALK TO THEM.
Michael I have found no info on a well in 12 yet . I did find one from 11 under 2 . There is a well in 3 . In the pooling for 2 they were ordered to offer $250 for 3/16th , 100 for 1/5th or no cash and 1/4th.
Nathan, Ron and Kevin; thanks for the status–I am still not sure when to sign a lease or how to dicker with the agent. Should I contact the landman or not? What happens if I don’t sign a lease? Is there more money for you all that live out their if I don’t sign a lease or does the energy company get it? I need money as much as the next guy who works everyday and is worried about retirement. I have no idea what value we are discussing. I would venture a visit just for a mini vacation.
Michael if you would like to send me a friend request I would give you my # and could go over what to expect .
Michael- My brother and I have the NW 1/4 and my parents the NE 1/4 of Sec. 12-17N-4E. Our lease is with Calyx and we are still just watching and waiting. They seem to be drilling all around us but just haven’t gotten to us yet. My dad did hear from “someone” that Calyx was definitely going to drill every property that they have leased. Personally, I am simply not going to count my chickens before they are hatched. Over the years we have had several parties interested in doing this or that with our property, and it has always ended in disappointment. I am not going to hope for anything until they’ve slapped a check in my hand…and it clears.
As far as gas production…If I am plugging #'s into a royalty calculator that is calculating MMCF and a well is producing 350 MCF, would that be entered as .350? 3.50?
Nathan MMCF is a 1,000,000 cf, 350mcf is 350,000 cf so it would be .350
SECTION 10-19N-1W LEASE OFFER FROM BROKER:
$400 per acre bonus for 3/16 share. I’m new to this business. Any thoughts or comments? Counter at ? Accept? Wait?
Richard Devon just finished a well in 19 that tested 857 BOD & 1083 MCF of gas, one in 20 tested 335 BOD & 1147 MCF, in 30 it was 76 BOD & 647 MCF. They have filed paper work for wells in ten more sections in 19n-1w. The bonus and share are not all you need to think about . The terms of the lease are just important . No need to rush , could get better. Have them email you the lease and run it by the forum.
M.D. Are you in 11 or 12-18n-3e ? There is a well in 11 , first sale was 9/10/12. To the end of Jan. it sold 5,909 BO & 24,559 MCF of gas.
permit to drill:
Payne: Devon Energy Production Co. LP; Haak 18-20N-3E No. 1WH Well; SW1/4 SE1/4 SE1/4 SE1/4 (SL) of 07-20N-03E; TD 9,714.
Devon Energy Production Co. LP; Haak 7-20N-3E No. 1 WH Well; SW1/4 SE1/4 SE1/4 SE1/4 (SL) of 07-20N-03E; TD 9,577.
Devon Energy Production Co. LP; Haak 8-20N-3E No. 1WH Well; SW1/4 SE1/4 SE1/4 SE1/4 (SL) of 07-20N-03E; TD 9,756.
Red Fork (USA) Investments Inc.; Skyhooks No. 1-28H Well; NE1/4 NE1/4 NE1/4 NW1/4 (SL) of 28-20N-03E; TD 9,000.
Xanadu Exploration Co.; Dewitt no. 5 Well; NW1/4 NW1/4 SW1/4 NE1/4 of 34-20N-04E; TD 3,600.
I’ve just learned I have mineral rites left to me by my parents I’ve also just received a certified letter from universal land services Representing calyx energy. It is a well proposal. Can anyone help me with information as I have no idea!
First thing is not to let the world know you know nothing about it. It is an invitation for some land men to take unfair advantage. Being shy or coy is not the thing to do in these matters. Ask questions, but never admit to “ignorance” of the process. The only dumb question is that question you have but never ask.
Kelly The first thing we need is the section, township & range , section ? - ? n- ? e. Do you have that ?
I haven’t talked to anyone yet except here
Kelly I show you have already leased to Calyx in April.
So why am I receiving this form from them ? Do I need to return this?
Kelly Universal Land is leasing for Calyx Energy who was ordered to offer $250 for 1/8th , 200 for 3/16th , 100 for 1/5th or no cash and 1/4th in the pooling for section 29-19n-4e which is the section north of you. They should have offered you this because you can get it or more The terms of the lease are something else that are very important. and you will need some help with.
It says Wedel east #32-1 MWH Section 32-19n-4e (640.00ac) Payne county ok
Did you sign a lease in April ?