Has anyone been approached for leasing in Sections 32 & 28 -3S-1E Carter County? Also has anyone ever heard of Superior Title Services II,LLL? Any info is appreciated.
Cyndy Klink
Superior is a leasing agent for an operator. They have been around since June 2021. Possibly for XTO who is an operator in the area. Or could be someone else. I always ask who they are working for.
Another agent in the area is R.D. Williams & Company. Another Lessee is OSO Resources.
Be aware that any lease that you have from an operator needs to be looked at by an oil and gas attorney as the draft lease will not be in the mineral owner’s favor and will need some negotiation.
Thank you. We were leased in those sections in 2015 by Bearcat at a substantially higher amount. This woman only reached out to one of us (there are 4 of us totaling 45 acres) and only by email. Whatever happened to people calling you. She evidently insisting on a 2 year option which we never do. There aren’t any new OGL’s in those sections but I know sometimes they hang on to them for a little while. Any idea where or who I might reach out to to maybe get a better price? Their offer was almost 3 times less than it was in 2015. Thank you.
Prices for bonus amounts are substantially down this year due to competition. I do not do an option either. The only companies posting leases in the last few years are listed above.
Thank you. I appreciate your input & the information. Have a blessed day.
CyndyK: Our attorney advised us years ago to counter optional-extension clauses by saying we’ll accept at 150% of the original lease bonus. You could use a different percentage. But this protects us against some amount of market valuation increase. I’ve actually had this clause accepted once or twice, but on most occasions it has been enough to cause them to strike the option clause. Maybe this would help in your negotiation.
Rudy
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CyndyK Interesting that you have had a contact. Our family has 117 acres of minerals section 6- 4S -1E. If I read my map right your are about 1 mile northeast of us. We were leased to Continental Resources via Bearcat as well in 2015. We gave permission for a seismic survey in 2011 but not sure it was ever done. They let the lease expire. Hope you get something going.
Thank you James for reaching out. We also were leased in 2015 by Bearcat for Continental. I received the lease today even though I have not talked to anyone. It came with no clauses, top lease, warranty & 2 yr option. We never do that. The lessor is now Pointer Oil & Gas. That’s a lot of acres you have. I would imagine terms are much easier with that many. I called a few brokers but no one is leasing. One said they were buying in Carter but not by us. Thank you again for sharing. It helps all of us.
Thank you Rudy. That’s something I was not aware of & very helpful. I really don’t like negotiating leases I always feel like they are trying to get over on me which they probably are. I had never heard of Superior Title Services or Pointer Oil & Gas. Oklahoma Secretary of State lists Pointer as starting up this year in January & Superior is listed on email as Superior Title Services II, LLC but return envelope says Superior Title Services, Inc. & letter is signed by rep at Pointer Oil & Gas. That’s a first for me also. Anyway thanks Rudy.
Cyndy
if O&G companies are competing for leases, wouldn’t that drive bonuses up? what is the competition field? who’s competing with whom? thanks.
One would think so, but it is a backwards competition now. A few years ago there was an overabundance of enthusiasm in leasing and bonus offers were high. It was “how much do we have to offer to get the leases” theme. Now, companies have to live within their cash flow and they have limited their bonus money pool. It is more of a “how low can we go and still pick up leases” theme. The operators are competing with each other.
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Have you ever heard of Pointer Oil & Gas?
There have been several companies with that name. Are they out of TX, OK, or KS?
Lease says Edmond, OK. Letter is from Superior Title Services. I’m sure that happens alot but this is first time I’ve been approached by so many different entities on the paperwork. Most of the time the OGL is leased by a broker & then the lessee will be that broker or Continental Resources. But it’s usually (at least so far) the same entity on everything. Thanks for all your help & info.
You do not have to rush to lease. It may be more speculation for the future by a new company. You can always wait for pooling. Then you know who will really be the operator.
That is true. Thanks!!
Superior is legit and has been around for quite some time, much longer than 2018.
Have you had any dealings with them? They are being somewhat weird. There are 4 of us with so far a combined 66+ acres & it appears they are trying to separate us with clauses & the leasing. They never call & emails go unanswered for days.
My family got an offer from Pointer as well. It seemed pretty low. It was actually almost the same offer that we got for some property in Harper which I thought was a less productive county than Carter.
I just thought that I would chime in and mention that I was also contacted (via phone) by Superior Title about leasing in Section 23 3S 1W. Coincidentally, the same property was leased by Bearcat (for Continental Resources) when I inherited it in 2016. I believe that this recent offer is also a little lower, in comparison, but my understanding is that Continental overspent in that area and that, maybe, we should not be expecting the same rates right now. I would be glad to hear what others think though.
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