Need to hear about recent sales of mineral leases in Garvin County, Oklahoma.
That was supposed to be Garvin County, Oklahoma. Don’t know if shale is a factor in that area.
Paul, The play seems to extend into the western part of Garvin County. Just depends on your location. A couple that I know of are in the southwest corner where Grady, Garvin and Stephens meet. Sec. 30-3N/4W $500/acre 3/16 royalty, Sec. 25-3N/5W $900 3/16. These are lease bonus pooling amounts. I don’t know about SALES amounts except that we were offered $2400/ac. in 2N/4W Stephens County after the well was started. I know a couple of people in Grady County who were offered in the $2000-2500 range.
Our mineral rights are in the Paul’s Valley/Elmore City area. Have you heard anything about that area?
June 10, 2015 receiving letter from Marathon about drilling a well. Have received two offers one for $5000.00 for 3/16 mineral right and one for $8000.00 for 3/15 mineral right in Section 3, Township 3N Range 4W. How much would these Frackin Shale wells pay per month?
Michael Hutchison said:
Paul, The play seems to extend into the western part of Garvin County just depends on your location. A couple that I know of are in the southwest corner where Grady, Garvin and Stephens meet. Section 30-3N/4W $500/acre 3/16 royalty, Section 25-3N/5W $900 3/16. These are lease bonus pooling amounts. I don’t know about SALES amounts except that we were offered $2400/ac. in 2N/4W Stephens County after the well was started. I know a couple of people in Grady County who were offered in the $2000-2500 range.
Rimrock is pooling some Sections in Township 2 North Range 2 West. What Section are you interested in?
There is a lady named Darla on here who works that area also.
You might try posting in the Garvin County under County Groups.
Gray: Are the offers to LEASE, or to BUY your minerals? Sometimes the offer letters are confusing.
Be careful either way. First you need to know how many net-mineral acres you own, and whether they are already leased, before anyone could possibly tell you what the expected revenue will be. Then, you have to guess as to what the price of oil and gas will be.