I'm new to the group, so if I am not posting in the correct place please let me know!
I received a letter from Jackfork Land, agent for Continental Resources, about leasing for proposed well 1-27H. The well is to test the Woodford, total measured depth 18,796', lateral length 4,850'. Surface location is in SE 1/4 of 27-1S-4W, bottom hole location in NE 1/4. They offer participation in the well or (1) lease bonus of $2000 per acre with a 1/8 NRI or (2) lease bonus of $1600 per acre with a 3/16 NRI (3) lease bonus of $1000 per acre with 1/5 NRI, or (4) no cash bonus with 1/4 NRI. I think this section is in the Alma area but don't know for sure.
Does anyone have any information about this proposed well? Are the terms of this offer good?
Has anyone worked with Jackfork Land? Are they reputable and what kind of experience did you have with them?
Is it better to wait and see what happens with the proposed well? I'm inclined to wait for a while. I have mineral interests in the SE, NE and SW quarters of Section 27. Would a lease of SE and NE interests tie up the SW interests as well?
This letter has caused me to start doing some research, at least as much as I can from central Texas. I don't pretend to understand this stuff at all, so any help/information would me much appreciated!
I have worked with Jackfork on a number of leases for my interests in Oklahoma. No problems yet!
JimB
It should be more like $2300,2200,1750,& 500 for a 1/4th. And there are clauses that you need in your lease . You might ask on the forum for more info before you sign.
Here is what they were ordered to offer in the Pooling for section 29 . There is a pooling pending in section 28.
http://imaging.occeweb.com/AP/Orders/occ5119924.pdf
My dad signed several leases with Jackfork, he had no problem getting bonus money. After he passed away they weren’t very helpful when I was trying to figure all of this out though. I’ve since gotten this all figured out with the help from the folks on this forum. Welcome to the forum. It’s been a lifesaver for me!
Thanks so much for your very quick response to my post. I'm sure not ready to sign yet. My interest is so small but I still need to be able to maximize any possible income from it.
The pooling order you posted is very interesting - I've never seen one before. Thanks for sharing it with us.
Ron McKenzie said:
It should be more like $2300,2200,1750,& 500 for a 1/4th. And there are clauses that you need in your lease . You might ask on the forum for more info before you sign.
Thank you Jennifer for your very quick reply to my post. I've been reading previous posts but its still confusing to me. A lifesaver is what I will need!
Jennifer said:
My dad signed several leases with Jackfork, he had no problem getting bonus money. After he passed away they weren't very helpful when I was trying to figure all of this out though. I've since gotten this all figured out with the help from the folks on this forum. Welcome to the forum. It's been a lifesaver for me!
Thank you for your information re Jackfork. It makes me feel a little more secure about the company.
Sylvester W. Brock, Jr. said:
I have worked with Jackfork on a number of leases for my interests in Oklahoma. No problems yet!
JimB
Hi Theresa, .welcome to the forum! I am fairly new to this forum but have learned a lot, received very, very valuable advise, and my learning curve is still very steep. (a good thing at my age)
I have only worked with Jackfork (representing Continental ) and Chesapeake. I have found Chesapeake to be challenging (but to give them a break they have been going through a lot of management changes over the last couple years). Both Jessica Hatcher and Michelle Webster have been great. I believe Jessica is kind of in charge if the land"men" but Michelle calls or emails back so promptly that I was really amazed, she is very personable and helpful! Hopefully you are able to work with her although my guess is that many of their land"men" are also very good. Haven’t heard a bad thing about Jack Fork’s relationship with mineral owners. good luck and keep tuning in! It is fascinating and exciting!
Thank you Diane. I am also learning a lot - and fast. I have signed lots of division orders over the years but I don't think I've ever done a lease. If I did, I didn't give it much thought But not this time!! Thanks also for the names at Chesapeake. I may need them some day.
Diane Adams Trafton said:
Hi Theresa, .welcome to the forum! I am fairly new to this forum but have learned a lot, received very, very valuable advise, and my learning curve is still very steep. (a good thing at my age)
I have only worked with Jackfork (representing Continental ) and Chesapeake. I have found Chesapeake to be challenging (but to give them a break they have been going through a lot of management changes over the last couple years). Both Jessica Hatcher and Michelle Webster have been great. I believe Jessica is kind of in charge if the land"men" but Michelle calls or emails back so promptly that I was really amazed, she is very personable and helpful! Hopefully you are able to work with her although my guess is that many of their land"men" are also very good. Haven't heard a bad thing about Jack Fork's relationship with mineral owners. good luck and keep tuning in! It is fascinating and exciting!