i have some mineral rights at t27n,r51 e,sec 8. is there any production in this area? i have a lease with fort worth for $150/acre and 1/6 royalty with a couple of years left. any information would be appreciated.
john:
Looking at the GIS map, no new production in the immediate area. Lots of p&a wells and most serious activity is to the East. Since you still have a couple of years left on the lease, all you can do at this point is stay aware of any new activity in your area. Continental Resources has some wells to the East and operators of this caliber would be an asset to your portfolio. This area of Roosevelt has historically been the location of old vertical wells which have been plugged. Keep in mind that various unexplored zones exits in the area and eventually, will be tested with today's advanced drilling technology. I would advise to allow your existing lease to expire and evaluate the area at that time. Don't be in a hurry to negotiate a new lease and know what operator is interested in leasing. The landscape of operators will be vastly changed in two more years.