Our family has mineral rights in Sec 9,T2N, R8W of Stephens County. Does any one know of any leasing activity going on in that area?
Michael Warden-
Could you please clarify your comment that “that’s good news and bad news”? I am not very experienced in this whole process so I need a lot of clarification most of the time.
Thank you-
I would put the rig sign just a smiggin to the right (east) of where you have it, Rick, but that’s the general idea.
well james, if you have minerals in section 11, 2, 14, or any other in 2n 4w for that matter, you will probably see more wells drilled soon. bad thing is they have to shut the running wells down in the area to fracture them. good news is you get more wells!
i cant believe we are missing out on some bonus money due to minerals held by production from 1945… wow!!!
The well probably doesnt even produce a barrel a day…
Thank you for the clarification Michael. The wells that they shut down for fracking will be reopened once that process is complete right?
That is awesome Michael. I am really curious to see how these new wells do. If all five are as good as the first there will be a lot of folks walking in some high cotton for a while. Just gotta remember to stick half of that first check in savings for when Uncle Sam comes a callin’
that is correct!
Don, Saturdays can be kind of quiet.
I can’t believe that no one has posted a message to the Stephens and Garvin County comments since yesterday. Is something wrong with my internet or did everyone take the day off and gone shopping with our richly deserved oil gains? Hello out there!
I called the Newfield lady and she said the Branch well’s check was down because they have to shut them in when they frac any other wells around there and that’s what had happened a couple of months ago. She said looks like they got them back up and going now but my thinking is they will all close in when they frac the Poteets and then probably close them all again when they frac the new Kellys, etc. etc. etc…She said you won’t lose any of it but that they will bring them back on SLOWLY because that’s better for the wells so we’ll just all have to be patient, I guess. Not one of my virtues! 
Understanding the Public Land Survey System
Public Land Survey System at Wikipedia http://en.wikipedia.org/wiki/Public_Land_Survey_System
Permit to drill runs out on Nov 2 (0r the 5th) for Oceana. What could occur if the drilling is not completed by then? Does the fact that that “drilling is slow” be an indication of anything particular to be concerned about?
Diana, they only have to spud before the end of the permit. You are fine.
This is a good “commencement of drilling clause” for anyone who needs it.
COMMENCEMENT OF WELL: Commencement of any well according to the term of this lease shall require that a drilling rig capable of drilling such well to the projected total depth for such well be on location and drilling on or before the expiration of the primary term or any other applicable time period hereunder and that the drilling of and other operations on such well be continued with due diligence in a reasonable, prudent manner until completion of such well in one or more formations. Construction of a well location or road or any other physical activity on the Leased Premises, or on any lands pooled, communitized or unitized therewith, without actual drilling operations being conducted with a drilling rig capable of drilling such well to the projected total depth of such well shall not be deemed commencement of a well under this lease.
John Scheve, don’t be surprised if they tell you “operations have commenced”. If it’s not spelled out in your lease it can be subject to interpretation. On the other hand it’s only been 3 days maybe the renewal is “in the mail”.
John Shreve, I don’t believe you will have an opportunity to re-lease your minerals to another company if your original lease had a two year option. A two year option is a very undesirable lease (one I learned from experience) that you are bound to in the event they don’t drill by the expiration of the original lease term. Fortunately, Newfield drilled before the 3 yrs was up, but I would have been stuck with the renewal amt which was substantially lower than current rates @ the time, had they not have spud within the original lease time. They also told me “having a dozer on location and moving some dirt around” can define “drilling”, so as Hutch mentioned it is very contingent on wording of the lease. I have learned so much on this forum. Good luck.
Thanks for the comments on the lease extension. I do have a top lease clause in the current lease. So I’m going to follow up on that.
I have an Oil and gas Lease on minerals in Section 31 T1N R6W that expired on Oct 3. The Lessee had an option for a two year extension, but have received nothing from them to date. Marathon has a permit to drill for the entire section. They have not yet begun (no Spud form has been filed). I have received nothing to indicate that the lease was transferred -if that makes any difference.
I have had several good lease offers in the last several months. Does this mean I can accept a new lease?
The Goins rig is being torn down today.
Oceana, still drilling at 24,700 now. Drilling is slow.
John i think you can and if I’m wrong someone please correct me. It’s called a top lease. You have to agree to terms with the company making the offer, sign ta lease making it a bonafide offer, make a copy of it, send it certified mail to the company holding the lease and then they have fifteen days upon receipt to meet or exceed the offer. If they don’t your top lease goes into effect. However, and there is always a however if the language in your current lease explicitly provides a provision disallowing a top lease then you should seek legal advice. Read your lease.