Hi
I am new to this group and know not a thing about mineral rights. My sisters and I inherited our mineral rights from my mom, not much but combined we have about 4 acres. We have been receiving so many offers in the mail from a variety of places. We are all out of state. We contacted a lawyer and did sign a lease, we understand Marathon is drilling. Can anyone tell us what is really happening there and what can we expect?
Any information would be very much appreciated. Thank you!
Sandra, Marathon plans to drill the Davis Trust 1-7H. They currently have 3 applications before the Oklahoma Corporation Commission 2 have been approved and the 3rd, the Pooling Order is scheduled for a hearing on 4-29-13. Sometimes these things breeze right through, others can take several months. Someone has entered a protest to the application, so that could slow things down a little. Hopefully it will be cleared up in the hearing. Once this part is done then they can obtain a drilling permit. The reason you are getting offers on your MRs is there are several good wells in the area including next to your sec.7 on the west side in 12-3N/5W Newfield Exp. has 5 wells in one section. Even with just 4 acres your section has some good money making potential. Whatever your offers have been you can count on it being worth much more in the long run, someone thinks they can make a nice profit off of your minerals.
Hutch, Please share any info you get on 7,3n,4w…my moms mailbox has been blowing up with offers. We received paperwork about a 2nd hearing that was on the 8th, are you saying there will be a 3rd on the 29th? Any idea as to who, or what will be drilled here? We have paperwork from Continental and Marathon?
David
David, After digging a little deeper I found that at the hearing on the 8th Marathon amended the Application for Pooling and the protest was withdrawn. Now the hearing for the Amended Application is scheduled for 4-29-13.
Great. Thanks so much. So does this mean Marathon will be the driller?
Sure looks that way David. If they have a rig avaliable they might already be doing site preparartion.
We were told by the lawyer that we contacted that Marathon would be doing the drilling. We have also received numerous offers - I have not seen this much interest in these MR before. But my sisters and I have all three been contacted by multiple companies.
Any news lately on 7,3n,4w? Offers keep getting higher. Still not selling!
David, Drilling Permit was issued on 5-22-13 so far no report that the well has been spud.
Well, I see the spud date was 8/6/13…any idea on the stage this well is in? Any well reports from the neighboring sections? Thanks!
Does anyone know if there is any activity in or around the north portion of 4N 3W. We have a number of tracts in those sections (1,5, 6, 7, 12).
David, it should be close to completion but too soon to find any reports on OCC.
Thanks Michael, if you hear anything, I would greatly appreciate any info…have my fingers crossed!
See where a well in Sec.20 is now producing…has anyone heard anything about the well in 18, 3n,4w?
The Smith 1-18H in 18-3N-4W was completed in April 2012
Completion report http://imaging.occeweb.com/OG/Well%20Records/1DD06590.pdf
Initially Reported as 204 barrels a day
Thanks Rick, but I was referring to the new Davis Trust well that should be just nearing completion or just finished. It is the horizontal well that is going under Sec. 7, which is where my Moms land is located.
It looks like the well on 18-3N-4W is now producing…any ideas on production and when my mom might get her first payments?