Hello,
It looks like Rimrock Resources is doing some work in SEC13-3N-4W, and I just received a Revised DO in the mail, but I don’t have any lease agreement on file for them at that property and this is my first correspondence from them. Does anyone have any dealing with them concerning this lease? Or how to get a hold of them with getting a answering machine?
Technically, Oklahoma does not require you to return a division order in order to get paid. But does require W-9
Here is a good YouTube video explaining it.
Hello Richard,
thanks for the information, I was surprise by Rimrock because I don’t have a lease agreement with them, and their letter was from out in left field. I’ve tried to contact them, but did not get a response, just voice mail. I will try again tomorrow, perhaps they’ll be available then.
take care,
That section is part of an old unit, so you are probably held from the unitization agreement from years ago. (Purdy Hart or Purdy Springer). You can look up the unit agreements on the OCC website. Type in 1303N04W. OGUnitization
You may have gotten a new DO if Rimrock bought any of the old wells. Or it could be for a new well, but held by very old leases.
Christopher–are you receiving run checks on the old units that Martha identified above?
We don’t get anything from them on that lease but get a couple of checks for old vertical wells from them in sec. 29 4n 3w in Garvin. It may not necessarily be the company you leased to in your section that is the operator (does the drilling) for that section but of course you would still get a check off of it if the well was horizonal across that section. You probably know all that but I didn’t when I first got on this forum. Hope this helps! Best Wishes!
Hello Linda: I’m one of two trustee’s for for a family group in Illinois. It has been sometime that I have been on the “Forum”. I’ve been getting several request to buy our mineral rights in Section 17 of Garvin County. They started at $1,500 per acre and the last offer was $2.250. We (the Trust) have decided to wait for a while. Does this sound reasonable w/1/5th royalty.
stevers
Stephen…that sounds more like an offer to lease than for a purchase. If you have it leased at a 1/5 it sounds VERY UNREASONABLE for a purchase. If it is to lease your minerals (I’m assuming you mean Section 17 4N 3W in Garvin) I’d think $2250. an acre for a 1/5 overriding interest sounds good to me. M.Barnes can have some good input on this since she also owns some minerals in that area too. Best Wishes! Linda
Hello Linda: This is in section 17, Township 1 North, Range 1 East, SE/4 NE/4, SW/4 SE/4, NE/4 SE/4. They started at $1,500 per acre to purchase, I got them up to $2,233.330 per acre. Back in 1987, we owned 60 acres, and when we sold the land, we we were only able to secure 25% of the 60, and over the years we had several leases. The last one is the first time it went into the 2 yr option. Because of the age of the family members, we are considering to sell the mineral rights. (BUT Not to give them away). Today I got a follow-up letter from the Company over the company that wants to buy the “mineral rights” Makes me wonder what is happening.
Take Care stevers
Stephen–you may be interested in the geologic map entered as an exhibit in OCC Cause CD 200509489.
Since it appears there have been no wells drilled in Section 17 1N 1E, it is really hard to evaluate the value for selling your minerals.
Hi Frank,
In response to your question, I am not receiving any run checks on those units.
Hello Ms. Barnes,
I haven’t been able to pull up anything on OG Unitization using just the Location, and the information that Rimrock notated on their letter doesn’t show order#, or case #. The letter reflects Property #, name, description and location. Since I’m pretty new at this I wasn’t sure on how to proceed with the links on the OG site. I’ll continue to find out more information if and when they decide to answer their phone.
thanks for your input.
Stephen…sorry I know nothing about pricing the sell of minerals in that area. The south and east most stuff we have is in 2n 4n in Stephens Co. We sold our section 29 2n 4n royalty in Stephens Co. last year for $20,000. an acre but I believe it to be in a hotter area than that of which you speak. I know the western part of Garvin County seems to be a lot more (oil field) busy than that in the eastern part. Wish I could tell you more but I just don’t know. Best Wishes!
We just had an purchase offer in 1N 1W 13 for $5,000 an acre from a company out of Moore for our 80 acres. It’s currently under lease from Continental. There are several wells about 1/2 mile South of us in a line East to West.
Thank you Linda: I know from other reports, that the area we have is not very “hot”, but after all of these years, we are still hopeful.
stevers
Stephen…you just never can tell. When we purchased the first of our minerals in Stephens 2n 4w about 49 years ago (when we were still in college and newlyweds) we really never thought it would be worth anything. We just bought it to help out a cousin who had inherited it. Being in the oil well servicing business with my family later we went through at least 2 booms before this last one and we couldn’t even lease it out. Come to find out they had known for a long time the oil was down there but until the oil went up around $100.00 did they decide it was worth going that deep for it. Who would have ever thought they would end up drilling wells down there like crazy and we would sell some of it for $20,000. an acre and have higher offers for some we didn’t want to sell! You may own a black gold mine yet to be discovered. We have 80 acres in Delaware Co. that may never worth anything in our lifetime but you never know. Best Wishes!
Thank You Linda: We can keep hoping !