I received a call today from an acquisition company on mineral rights I co-inherited. They have offered 5k/acre for 10 acre mineral rights in Garvin County. I have no paperwork on this and did not expect this inheritance. Can I get some advise on who to contact for advice on selling, etc. The company making the offer is DT Resources. Thanks!
The first thing you need to do is get the inheritance straightened out.
You also need to find out where the acreage is in Garvin and then find out what activity is there. You may have back royalties due you or planned drilling. Anyone who offers to buy is pretty sure they are going to make a profit off of you at whatever price they offered. They either want those back royalties or the future royalties of the current or planned drilling. Always good to slow down a bit and find out what is going on. Then you can decide if that price is sufficient or if you want higher or if you want to hang onto the property.
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Thank you! I have the coordinates in Garvin Co Section 9 2N 3W. Once I receive paperwork I will thoroughly investigate. I would like to know everything before I move in any direction.
Liz Favaro
You have a well called the RIDDLE 1H-9XX which is a very long well. Surface location in section 28, goes north through 21 and then through 16 and then partially into 9. Been online since 2015, so may be some back royalties that you need to claim as soon as you get the inheritance settled. The well operator is Newfield (Encana). There is the possibility for more wells in the future. Section 8 looks like it has nine wells.
Can you tell which part of Section 16 is involved? If it comes through Section 16 would there be royalties involved for owners in that area?
100% of section 16. Anyone with royalty in Section 16 will receive revenue.
Thanks.
Section 16 Township 4N Range 2W
Marilynn- I was referencing 16-2n-3w.
We have full minerals on 40 acres in section 16: NE4 of SE4. Is there a possibility on this part of section 16??
Sammie:
What Section 16 are you referring to?
Good morning - I also received an offer from DT Resources that I am entertaining. Did you complete your transaction with them? I am of course trying to protect my interest so wanted to see if your experience was legit with them. Thanks so much!
I’d think twice about doing business with DT Resources. My friends got an offer for their minerals in Garvin County and decided it was a scam. They wanted them to sign the offer to sell but also the deed and let them take a picture of it before they paid for the deed. They said it was so they could cut a check. Several on this forum said it sounded fishy to them and they wouldn’t do it. I would not either. You should not have to give them the signed deed (or a picture of a signed deed) until you have a GOOD check in hand. We decided they were probably trying to flip the minerals and use the money they got from the sale of her minerals to pay her. Not an honest way to do business. Watch out!
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Companies who have spent the most capital (based on total consideration) in 2N-3W, Garvin County, OK; 2018 - Present
*Their slice of the pie a % of the total shown of $3.9 Million
The real question is who those companies are buying for! And what profit they are making when they flip.
Taking those top 10 and analyzing them from Grantor side you can see which ones are selling and who they are selling too…again filtered to Garvin, 2N-3W, 2018-Present
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And then you look at who Cherry Creek is and they are a division of Four Point Energy /Long Point Minerals. Which coincidentally has raised $846MM to acquire minerals -much of it from a Canadian Pension Fund.
Their plan: “LongPoint II will continue to acquire high-growth, long-life mineral interests in the top U.S. resource plays, primarily focusing on acquiring assets in the SCOOP/STACK/Merge play in the eastern Anadarko Basin and the Midland and Delaware Basins in the greater Permian Basin. While leveraging its cross functional technical model and extensive history and knowledge of these regions, LongPoint II will aim to acquire assets with both current cash flow and undeveloped locations. We continue to see attractive opportunities to acquire minerals in the core of the best plays in North America. LongPoint has developed an efficient and streamlined approach to the capture and assimilation of mineral interests, allowing our team to be in the market at all times,” said Will Cullen, Vice President, LongPoint Minerals II. "
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Does anyone know anything about Garvin section 36 1N 2W.
Continental is putting together a Woodford horizontal play near 36-1N-2W. Continental, 1907 Land Co and MK&P Energy are leasing.
Thank you. You are a wealth of information. Appreciate your time and research.