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Canadian County, OK - Oil & Gas Discussion

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Canadian County, OK - Oil & Gas Discussion

Oil & gas discussion group for those interested in Canadian County, OK. Share your experience regarding lease bonus, royalty rates, drilling activity, and oil & gas news.

Members: 280
Latest Activity: yesterday

Discussion Forum

Sections 08, 09, 16, & 17 -- all in T10N-R06W

Started by Susan E. McWater. Last reply by Susan E. McWater yesterday. 2 Replies

Is anyone familiar with the new activity in this area?   In the last several months, I've gotten numerous offers to purchase my interest.  I'm wondering what a fair price per acre might be?Continue

Lease interest in section 14 Township 11 North Rage 10 West

Started by Phylis Steelman. Last reply by Phylis Steelman on Friday. 2 Replies

i have recently had inquiries to lease in the above section have others had offers. I feel what has been offered to date has been on the low side. Continue

SEC 10-T11N-5W

Started by Stephen Weaver. Last reply by Stephen Weaver on Wednesday. 2 Replies

Hi! I'm new to the scene, and I have questions! I've inherited rights, and recently received a notice to drill, as well as a lease proposal from Chaparral Energy. Please chime in to explain any of…Continue

1

Started by K. Last reply by Phylis Steelman Nov 27. 2 Replies

1Continue

Comment Wall

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Comment by james grant on November 28, 2017 at 6:48pm

I guess we will be pleasantly surprised in a couple three months or not....Section 32, Township 11, West, Range 5, Canadian County.....

Comment by james grant on November 28, 2017 at 6:07pm

got a application for emergency drill on secton 32 township 11 north Range 5 West ......then got a letter saying dismissing ...we called and was told that letter was a mistake, are drilling...on 29 and 32...who knows...might be , might not...might have to take a long drive and see what is really going on..

Comment by M Barnes on November 28, 2017 at 4:08pm

Stacy, all four years total, not yearly,  at estimated oil price of $48 and gas at $3.00. 

Friend me and I can share the spreadsheet with you.

Comment by S B C on November 28, 2017 at 1:36pm

Other thing you want to be sure about is the lease language for "deducts." These companies are killing landowners whenever they can by deducting enormous amounts for gas marketing, transportation, compression and whatever other costs they can get away with. I have royalty associated with some very old leases and the deducts have been over 1/3 of product sales revenue in many cases. 

Comment by Stacy on November 28, 2017 at 1:09pm

When you say 1700 to 5300 in payouts in the first four years as an estimate is that yearly or is that a total of all the 4 years?  Hopefully that is yearly.

Comment by Stacy on November 28, 2017 at 1:06pm

I  mean long term these can last 30 to 40 years that is good.

Comment by Stacy on November 28, 2017 at 1:02pm

Well the man I talked to said right now when they finish in section 13 they will drill here in section 19 so from what I am seeing your putting here, its good...for the long term. I had the option of a lessor bonus with the higher royalty of 1/4 and chose that rather than the way bigger bonus and the 1/8th royalty because I knew it would pay off in the long run.  Thank you.

Comment by M Barnes on November 28, 2017 at 12:54pm

Stacy,

Golden 1306 1WH-18 was completed in the Woodford at 88 bbls oil 932 mcf gas March 2016. Brookie 1306 1UM-18 set surface casing and they plan to come back in and drill the rest. 2016.  So you have at least two zones in 18. Schulte 1306 1-15HM drilled in late 2016.  261 bbls oil 977 mcf gas in the Mississippian. Heupel 17-13-6 1XH multi drilled in 2015.  Started off at about 225 bbls oil 1825 mcfd (two sections).  Oyler 1307 2-24MH completed at 382 bbls oil 1171 mcf gas in mid 2016.  You can see the range. 

You might get from $1700-$5300 in payouts over the first four years at one acre at 1/4th.  Just a guestimate.  I have put in the tax rate and no post production costs.  These wells may or may not last for 30-40 years at low rates.  If they drill more than one well (which is happening in 13N-7W), then there will be some upside. 

Comment by Justin A on November 28, 2017 at 11:36am

David Evans, you say your minerals are near the old Downtown Airpark?  That is in 11N-3W, in the heart of a very densely developed and populated area.  I wouldn't expect anything to be done in this area...maybe ever.

Comment by Stacy on November 28, 2017 at 11:36am

I don't know about stacked reservoirs but its in section 19 13N 6W

 

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