Anyone getting offers on their Wehlu rights?
Yes. I pitched it and can’t remember how much the offer was or who it was from.
I received an offer of $2,768 for my interest by Antelope Oil & Gas LLC with a 14-day deadline that would be up around today or shortly. The letter didn’t specify how many acres my interest included, so I don’t know how they calculated the offer. My payments from this are pretty low yearly, because of the way the WEHLU royalties are distributed. Where I stand right now, I would receive royalties equal to this offer in 2-3 years, so wouldn’t accept it. The WEHLU area is problematic when it comes to benefiting from my rights, so I considered seeing if Antelope might up the offer, but hesitating as I never sell mineral rights. .
What section, township and range? Many of these older water flood units are getting deeper same zone horizontal drilling now. That is why the offers are coming in. Never allow them to rush you. I can understand it from their side. They want to swoop in, get as much as possible at a low price and move on. Makes sense for them. But your job is to protect your assets.
I have never received anything from the following and was wondering if anything is happening on: (Oklahoma County) Sec. 7 T11N R2W Sec. 19 T11N 2W Sec. 19 T11N 3E I inherited these from my grandfather in 2000. Thank you if you find anything.
My rights are in 8-14N-4W. I also have a little in 26-14N-3W, but not sure that’s in WEHLU. The Antelope offer didn’t have a legal description, just offering to purchase rights in WEHLU.
Found the offer when emptying office trash - BCF Minerals offered $3,000-$5,500 per net mineral acre subject to the lease royalty. I’m in 24-15N-5W and have other small production in addition to WEHLU
Did not get our check this month from Wehlu. Called Sunoco and she said that they did not pull oil this month. Also gave me the name and number of new owner. Have not heard about new owner. She checked our account and said they did not cut a check for us this month… Our brother in law got his check and our sister in law got hers.Anything you would check?
Ask them whose name was on the top of the check as operator and also what months were paid on.
Also, check your division order. Is it set for $100 or at $25?
The check came from Sunoco but was deposited last week. Ours is direct deposit. Sunoco will not answer questions but said to call Revolution Resources 405-534-5232. Called twice with no answer but was able to leave message. Revolution started in April of last year but we were never notified. I will check DO. Thank you, Martha.
Posted on Revolution’s website “Notification - If you are an owner in the West Edmond Hunton Lime Unit, or the Northeast Verden Unit, we have recently changed oil purchasers. With this change, Revolution will be distributing oil revenues to owners. You may have previously received a check from Sunoco. We hope to get this process transitioned as soon as possible but there will be up to a 90 day delay between checks.”
Sorry - new guy here. Mineral rights dumb. I just discovered I own Wehlu mineral rights, inherited from my mother who passed in '97. Received and offer from Revolution Resources. I have the proper legal descriptions from the offers. Have never received royalty payments on these interests. I know I need to have my ownership documentation changed to reflect my inheritance. Any info on past Wehlu production (am I due royalty payments?) and advice on course forward would be appreciated. My apologies if this would be better posted in another forum. Thx in advance.
Welcome to the forum.
The WEHLU (west Edmond Hunton Lime Unit) is a waterflood recovery unit and is very old (~1947). (http://imaging.occeweb.com/OG/Unitization/0058D9DA.pdf) It covers many sections, so you would need to give a bit more information as to your particular section, township and range. In order to get past royalty payments, you would need to file your probate or other title information in the county courthouse where you have minerals. You need to contact the operator of the unit to get the past royalties due.
You said that you received an offer. Was that to buy your minerals or lease your minerals? Depending upon where your particular ownership is, there may be deeper reservoirs which have potential and that is what the buyer wants. Buyers usually plan to make a profit, but that may be difficult in the near future. I would use this low price time to find out what you have, get back royalties paid, learn about the oil and gas business, etc. Choosing to hang on or sell is a personal decision, but best made armed with data and information. If you sell, you may have capital gains tax considerations (buyers don’t usually mention that tidbit).
If you give us the Section, Township and Range, we can narrow your info search. From that info we can track down old wells (and show you how to do that), find the current operator, tell you about nearby activity, etc.
You, Ms. Barnes, are a jewel. Thank you. The offer was to purchase my rights rather than lease. And I agree, my plan is to hold these rights.
The legal descriptions of these properties are as follows:
W/2 (a/k/a WEHLU Tracts 22, 23, 29, 30, 38, 39, 46 and 47) Section 30, Township 15 North, Range 4 West Logan County, Oklahoma SW/4 (a/k/a WEHLU Tracts 225, 226, 243 and 244) Section 9, Township 14 North, Range 4 West Oklahoma County, Oklahoma W/2 (a/k/a WEHLU Tracts 507, 508, 520, 521, 533, 534, 545 and 546) Section 4, Township 13 North, Range 4 West Oklahoma County, Oklahoma NE/4; N/2 SE/4 (a/k/a WEHLU Tracts 505, 506, 518, 519, 531 and 532) Section 5, Township 13 North, Range 4 West Oklahoma County, Oklahoma NW/4 (a/k/a WEHLU Tracts 635, 636, 644 and 645) Section 21, Township 13 North, Range 4 West Oklahoma County, Oklahoma
“Gastar Exploration Closes Sale of Non-Core Acreage in Oklahoma - OklahomaMinerals.com”
The unit was owned by Gastar until recently. Here is a link to their sale. It has a nice map. Gastar sold to Revolution Resources. They are just trying to consolidate and buy folks out. You do not have to comply. There are quite a few horizontal wells in that unit. Theoretically, as long as the unit pays, you should get paid. Ask Resolution for the back royalties.
OGUnitization Go to this website and type in West Ed in the search. THis is the documentation for the unit. Look up your sections and the tracts and mark them. You can download a copy of the unit agreement. You will have to open a lot of files. I gave you part of it earlier. You can save them digitally and only print out the map and tract lists. You will have to file probate documents in all of the counties where you own minerals. See comments by Richard Winblad on the forum about those sorts of questions.
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If you type WEHLU in the search on the forum, there are quite a few comments through the years about the unit.
Again - you are terrific. Thank you! I have some work to do!
This will often involve a probate. Based upon the passing of your mother, a summary probate is possible.
Thank you, Richard. Can you tell me if that requires an attorney in OK?
I am new to the mineral rights world. I and my 4 siblings inherited these rights when our mother passed away from Covid-19 last December, and I am in the process of closing out her estate. Recently we were contacted by Antelope Oil & Gas about buying our rights, but I’m not sure what a fair offer would be. I have seen information that a fair offer might be 5 times the annual royalties, but I’m not sure what is really the fair price. They offered $1000.00, but the last 5 years of royalties has been slightly higher than $300/year. When I mentioned this to the Antelope representative he said they might go as high as $1250.00. We have rights on 4 tracts in the WEHLU area, tracts 683, 684, 690, 691. Any help or thoughts on this would be greatly appreciated. I am planning on a trip to Oklahoma in the next few months to file the heirship papers. Thank you