Has anyone gotten a recent offer to lease in this area? It would probably be from Continental. thru Bearcat. Val Connell Carter
Hello. I am new to this forum. I am trying to organize my properties and learn the leasing business. I have been looking for software that would help map my land in different counties and keep track of leases, offers etc. Do you have any particular advice? Thanks.
Welcome to the forum. There are some very expensive softwares out there and there are some inexpensive ones with varying rates of usefulness.
Many of us use basic Excel to keep track of our assets. You probably already own it and it is pretty easy to make spreadsheets according to what you want to track. If you want S-T-R maps of each county in OK, I can share them. I have already posted many of them in the various counties.
If you are interested in using Excel, I can help you get started.
Thank you so much for a quick response. I already have a spreadsheet going. I feel maps would really assist in me getting my head around the properties although I only have about 5 locations. These minerals have come to me only in the last few years. It was later, after my grandmothers passing, that I came to know I had rights in a county that I was unaware. What I would like to accomplish is the visual (map), tracking my leases, knowing ALL of the properties in my families names has been found and currently in my name as well as be better educated about the market and how to agree to good lease deals. Thanks for any assistance.
if you tell me the counties, I can upload the maps I have found.
You can search your family names for most of the counties in OK in www.okcountyrecords.com
Free to look. Costs a reasonable amount to print. You can join for a month and print everything and then cancel.
If you are new to the forum, welcome. You can hunt on the forum for all your counties and what folks are saying in each of them. Note the references to the Oklahoma Corporation Commission. You need to know those website locations. Let me know if you need them. Also, look at the Mineral Help tab above. It is quite useful.
Thank you. I hope to dig into this soon. My counties are Garvin, Jefferson and Carter.
Garvin County Map.pdf (409.8 KB)
Carter County Map.pdf (425.7 KB)
Jefferson County Map.pdf (333.3 KB)
Hi Ms Barnes. I hope your holiday has been great. I was just doing more research and, unbeknownst to me, ended up back on this forum reading an interesting post about mineral rights formulas. Looking to the profile and recognized the name…YOU! I just found it interesting. I see you are a “Minerals Manager” for LLC’s and I am wondering if I need someone of your experience to answer some questions and give guidance? I have very little interests spread across 3 Ok. counties and most years see nothing. But, on occasion, have a lease offer, like now, and stress over it more than I should, wanting to make the right decision. Please advise if you feel a conference call would be helpful if you do that type of service and what fee would be involved. Thanks for your time M. Barnes.
I would be glad to answer questions in a general fashion, but am not taking any new clients at this time. If you feel the question would be helpful to the forum, then ask here and the knowledge can be shared. Any legal questions should be directed to an attorney.
Thank you Ms Barnes. My main question is how does someone like myself who is minimally involved make the right decision to agree to a 3 year lease for only $1500 or not to lease. My “income” from oil properties is nowhere near enough to justify paid management services or attorney fees. Oil lease contracts seem to be fairly standard and I see no suspicious language but it is a bit unnerving. I’ve had attorneys look at other lease offers but these small ones don’t seem to justify it. Basic question is should I always lease if I have an offer? If not why? Thank you.
The basic lease language of the first draft that a company sends you is rife with problems for the mineral owner as it is almost always slanted toward the operating company’s benefit. (In my opinion). The most significant clause that I always look at is the royalty clause to make sure that I have no post production charges-especially in gas plays. Almost all first drafts of the recent lease offers I have received include them. I also want to limit the shut in time frame, add a depth clause, add a commencement of drilling clause, strike the free use of oil, gas and water, strike any option to extend clause, strike part of the warranty clause and watch the terms of the pooling clause. I will usually try to negotiate to get a better set of clauses in the lease. If the company does not want to do that, then I have no problem going to pooling. The Mineral Help tab above is useful as are some of the commentaries in the Blog Category.
Lots of input and great info. Thanks for your time M Barnes!