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Garfield County, OK - Oil & Gas Discussion

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Garfield County, OK - Oil & Gas Discussion

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

Members: 132
Latest Activity: May 24

Discussion Forum

Mineral Prices 20N-8W?

Started by OkiefromMuskogee. Last reply by M.D. Rodenberg May 19. 2 Replies

Anyone receiving offer letters to sell their interests that they can share?  Im trying to feel out pricing and see if the offers I am receiving are in the ballpark.  $1200 an acre to sell is what I…Continue

Warning! to all mineral rights owners Buyer Beware! of the Oil and Gas Con Men!

Started by Capt Cameron R Smith Oct 8, 2016. 0 Replies

Warning! to all mineral rights owners Buyer Beware! of the Oil and Gas Con Men!With all the new activity here in Ok with the Stack and Scoop oil and gas plays has brought out the Oil and Gas Con men…Continue

Mineral Deed Garfield County 2 20N 4W

Started by Jennifer A. Apr 29, 2016. 0 Replies

Just got the backpay going for family members on 2 wells under one deed.  The deed is in my great grandfathers name. The treasury office is handling the unclaimed property for one of the wells, and…Continue

No More New Wells?

Started by Linda Barbour. Last reply by Martha McMorries Jun 3, 2015. 8 Replies

Email response from an operator...In response to your email regarding Division Orders for the well, we have not been able to produce the well yet due to Oklahoma Corporation Commission salt water…Continue

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Comment by Martha McMorries on March 28, 2017 at 2:20pm

Richard, World oil prices are expected to rebalance sometime around 2020 meaning your minerals should be worth more then and that is why you are seeing the 3 yr extension.  I'm not leasing much now, unless the minerals are going to be forced pooled because it will pay to wait.  But if you can't wait, M Barnes is right, 1/5th or 1/4th is what you should get and $400 is low.  

Comment by M Barnes on March 28, 2017 at 1:37pm

Richard, No on a couple of fronts.  Ask for 1/5 and 1/4th pairs.  You absolutely do not want a three extension.  Ask to see that actual lease draft.  What they offer first is not usually to your advantage.  Many of the clauses need to be negotiated more to your favor.  Depending upon where you are in Garfield, that may or may not be a fair offer.  First offers are usually low.  

Comment by Richard Janousek on March 28, 2017 at 1:08pm

I'm new to this so any advice would be helpful. We have been contacted by an oil company wanting to lease the mineral rights to our land in Garfield county near Fairmont. The offer is $400 / acre 3/16 Royalty . The contract that I have seen is for 3 years with the ability to extend after 3 years.  Your thoughts

Comment by Sandra J McQuade on March 20, 2017 at 11:05am

https://www4.oktax.onenet.net/GrossProduction/ This is one link that works for me. 

Comment by Nancy Williams on March 19, 2017 at 11:55pm

We have oil interests in Garfield Co.  Oklahoma.  At one time I had the links to look at production reports with the OCC.  Those links no longer work.  Can anyone direct me to links that do work.  Thanks

Comment by Martha McMorries on February 9, 2017 at 3:05pm

Back in the mid 90's some guys where going around claiming they could use  various slim hole side tracking techniques to reenter verticals with large amounts of water in the underlying formations and successfully fan out muti laterals and save the expense of new wells.  It didn't work well in many areas, but some still believe there are area where does.  I never liked the idea because it usually resulted in water break through and lower production rates than new horizontals.  It's cheap not effective.

Comment by M Barnes on February 9, 2017 at 1:21pm

There is a lot of that going around these days-holding acreage with sub-par wells that should be plugged. 

Comment by Martha McMorries on February 9, 2017 at 1:10pm

M Barnes,  You could be right about the age of the well.  However, the company reworked that well in 1995 and it's somewhat unknown and questionable.  The Veenker company has a habit of leasing and operating wells adjacent to school land sections.  I had a well on my ranch in a Section 17 in Payne where a guy tried the same thing.  Bad business.

Comment by M Barnes on February 9, 2017 at 11:48am

I agree that they are probably trying to hang onto the tract with the well, but I doubt they can re-enter that particular well and use it for a horizontal well.  Location in the section is not optimal, well casing size is too small and integrity would be suspect anyway due to age of the well. 

Comment by G. Win on February 8, 2017 at 2:32pm

Thanks Martha!!!! I will let you know how it goes!!

 

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