My well in Payne Sec 31,19N,1W was drilled from a pad in Payne Sec 6,18N,1W. I also have a well that was drilled into Logan Sec 36,19N,2W from the Payne Sec 6,18N,1W location. Both wells have been completed and we are waiting on the results to be posted to the Oklahoma Mineral Registry. The current results look mixed for my Payne County property. The Oklahoma Mineral Registry says In Payne Sec 32,19N,1W to the east Calyx is getting 298 BOPD but in Sec 30,19N,1W to the north Devon is only producing 79 BOPB. Hoping for the best.
Clark, I e-mailed one of the land owners yesterday to see what the latest scuttle butt is. The drill pad in township 18N is outside of his south gate in Township 19. Haven’t heard anything back yet. Asked him if they are starting to set production equipment or if any results from the production tests may have leaked out.
Larry, Thank you so much for the information. Devon does not have my section totally leased yet, so I’m hoping they are not keeping your production down because of that. Calyx does not have the same problem, so they may be bringing the well in sec 32 on faster. Please keep me informed and I will do the same. The landman said Devon would drill my section 17 this summer. It’s a tricky section with a fault, but sometimes they can frac into the fault and get good production. The Peach 1-20 just south of me came in real good, but declined greatly. They will eventually water flood our area and get at least 70% oil recovery.
FYI: Devon has proposed surface location in Sec. 8-19N-01W Payne to run laterals into Sec 5, 17 and 16. Section 16 is a State of OK school land section that Devon has pooled.
I was inquiring about what folks are being offered on leases in the area of Section 14 19N 3E. We’ve been offered $250 with 1/8 interest or $200 with 3/16. Is that good for that area?
We were at our farm this evening for about an hour and a half and two oil trucks picked up oil from the oil well pad in our section. The gas is flaring off like crazy too. It is 06 18N 1W Payne county. There are four wells from this one pad. How long does it take for them to post a production completion report?
Marilyn, I don’t know BentTree for Monticello Investments. There are a lot of privately owned investment companies trying to lease minerals, but they will not be the operator and drill the wells. You might try to get 1/4 royalty and a cash bonus and have an attorney review your lease before you sign it if you are not familiar with leases. Be sure to get a cashiers check instead of a bank draft and you might want to personally hand over the lease in exchange for the cashiers check. I would never lease for more than 3 yrs, and never, ever lease for 1/8th royalty.
There is more than meets the eye with these lease numbers. We have an escalating lease offer situation happening right now in our area. This area has a lot of stacked pay zones and it is getting closer to infill drilling time when many wells will be drilled on each section instead of just one. Investors don’t want to tie up lease money any longer than they have to, so the closer it gets to operator’s ultimate goal of infill drilling we experience higher lease bonuses and royalty interests. I know this for a fact, because my family and I are now getting cash bonuses which varies from county to county and 1/4 royalty for our minerals. This is old news for many counties in OK where Devon and other operators have built huge infrastructure to handle all the wells and are continuing to drill.
Marilyn It should be more like $350 for 1/8, 300 for 3/16, 250 for 1/5, or 0 for 1/4 . these have been paid in 19n-3e. Make sure you get the right terms in your lease before you sign . Maybe run it by the forum.