My family is currently negotiating with Bear Cat on leases in Section 28. I would like to know if anyone else is receiving offers in this section or in the general area. Thanks so much.
We'll need more info. There are about 20 "section 28"s in Stephens county. The description should be somethign like 28-2N-6W.
Sorry...the description is 28-1N-6W. Thank you!
Continental is leasing quite a bit in the area and Bearcat will be leasing for them. We have rights pretty close by and they were attempting to lease from us a little over a year ago. I felt the bonus offer was too low. They have been leasing quite a bit in the area.
I think it should be worth about $800-$1150-3/16, and I'd bet they are 1/2 that or under right now. As we see a few wells go in it could go either way.
They have filed about 18-20 leases in that section in the last 60 days.
they are offering 502. per ac. and 3/16. We definitely feel the 502. is too low. Additionally we are asking for several other changes to the lease including depth restrictions, shut in royalties and a couple of other items. Thanks for your reply. Any additional information that comes along regarding this section would be appreciated.
We have decided to hold off on leasing for a while. If anyone does have news related to this area would love to know about activity. For those in the Lindsay area, I heard today that Cactus Drilling is bringing a deep hole rig into Okla. City for refurbishing & it is then scheduled to go to the Lindsay area.
I am in Sect. 32, 2N 6W, not too far from you. Bearcat called yesterday offering 502, 3/16. I asked the agent if there were definite plans for this section, and of course he wouldn't say, but he added, "They are really putting the pressure on me to get this area leased up." So it sounds like something will happen eventually.
Thank you Terrie for the information. I will post if we hear anything new
I was offered the same $502 in 35-2N-6W. I told them no. Like Rick says, it should be higher-although it is in the condensate zone but closer to the gas line of the Woodford. I leased for $1000/ac in 7-1N-5W about a year ago, so it should be a bit more now. This is also in the Vitruvian Apollo project area (look on their website) so time is probably on our side to wait a bit and see what develops. Bearcat is probably leasing for Continental, so I am waiting awhile.
Thank you for your information. It is most helpful and I will pass it along to my family.
https://okcountyrecords.com/plat-maps-raw/watermarked/stephens/1946...
I'm in 15-1N-6W which, if I'm reading this section map correctly, is catercorner to your Section 28 to the northeast. Bearcat/Continental leased mine in June, 2012 for $502. Good news they are leasing to the southwest, as that geomap that was floating around here seemed to indicate we are on the edge of the condensate window. Section 15 had a couple of dry holes in the 80's, but I suspect they revealed oil in what what was then an un-fracable structure. This may be just a WAG, but the lease my family got when they drilled back then was a small fraction of what I had got this time around. Let me know if the link works for you.
That link won't work. You have to sign up at okcountyrecords.com and give 'em a credit card. Then click on Stephens County, then Plat Maps, and then Bray which is the 8th row down, middle column. I'm thinking your Section 28 is the one south of 21 / Plato Road.
Yes, we lease our rights in Sec. 26 to Bear Cat several months ago. I have no clue if any activity is going on in the area because I cant get any reply's from this web page to answer the question. So if you know ....rsvp [email protected]