Sale of mineral rights

Oklahoma Mineral Rights Beaver County, OK
1

Hello: I'm new here and excited to receive some input.

I have a buyer after my 5.333 acres in Section 36, Township 1 North, Range 22ECM

It has been drilled and plagued with salt water. They just recently got that problem solved and are about to move forward with production soon I think.

I also have 5.333 on Section's 24 and 25. 25 is still producing gas at a slow rate in my book, but have little knowledge of this type thing. Sometimes I get a check for $150 for two months, or like $190 for a month. Section 24 has nothing of interest to my knowing.

All are leased at 3/16th of production.

I told the man. $1,700 per acre on 36, $650 per acre on 25, and $300 per acre on 24.

All or none is the deal. He agreed.

My concern is, am I selling it short? I have heard that even non-producers sell for 3x's the value of a lease. They were all leased at $250 and acre.

So to me,.... I'm not working the pencil correctly and could stand to loose out big time.

Section 36 by rumor has a boatload of oil under it. Any info would be much appreciated.

I'm getting old and health is failing, but do have a son to pass on too.

I realize you can't make choices for me. But I would love to get educated somewhat on this.

Thanks again, and so glad I found this site.

AZ Boy that does not savvy OK oil and gas..... Sincerely, Steve

2

Your information is not up to date . Horizontal wells are being drilled all around you and are different then what was drilled in the past . I am sending a friend request in upper right hand corner of this page. If you accept it I will give you my number and give you some current info as to what is going on around you.

3

Hello Ron: Thanks so much for getting back too me. I hope I punched all this in right, not sure.... and hope you receive. Thanks... Steve

Ron McKenzie said:

Your information is not up to date . Horizontal wells are being drilled all around you and are different then what was drilled in the past . I am sending a friend request in upper right hand corner of this page. If you accept it I will give you my number and give you some current info as to what is going on around you.

4

Steve

Here is my 2cents...your looking roughly ballpark at $12000 for all 3 lots if I got that right... My Grandad left me a little more acreage than that on the minerals but his thinking was the minerals would pay the taxes on the property he left me also... I am so glad he did because now I have broken the lease with one company and fixing to release at a better rate than there was in the 40's and on top of that get a nice bonus... I am glad to still have the minerals gives me something to hold onto and dream about along with least paying the taxes every year... just my 2cents...

5

Thanks Robert for your reply. I have decided to stay put and just hang on. I have still a lot to learn about all this but will go with the new advice from you and others. Including what my deceased grandmother and father always said. "Don't ever let go of the mineral rights." Thanks again Robert, Steve....

Robert Pritchard said:

Steve

Here is my 2cents...your looking roughly ballpark at $12000 for all 3 lots if I got that right... My Grandad left me a little more acreage than that on the minerals but his thinking was the minerals would pay the taxes on the property he left me also... I am so glad he did because now I have broken the lease with one company and fixing to release at a better rate than there was in the 40's and on top of that get a nice bonus... I am glad to still have the minerals gives me something to hold onto and dream about along with least paying the taxes every year... just my 2cents...