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Grady County, OK - Oil & Gas Discussion

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Grady County, OK - Oil & Gas Discussion

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

 

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Comment by M Barnes on March 23, 2017 at 9:00am

Robert, this is standard procedure.  They are actually going for the Woodford shale reservoir which is the middle of the three zones.  Hunton below, Miss above.  Think of a bendy straw going into a two layer cake with frosting between the two layers.  They drill straight down then try to go sideways into that sweet layer of frosting.  It is possible that the drill bit will stray and go up a bit into the MIss or down into the Hunton as they try to stay in the Woodford for 10,000'.  They must get permission for all three just in case.  

Read through the document and it will say much the same thing.  At the end is a map Ex B.  It shows the location of the well with an approximate 50% in each section.  After the well is drilled, they will come back to the OCC and report the actual percent for each section in order for the royalties to be paid properly.  The formula is:

net acres/spacing (~640) x royalty rate x percent perforations in your section.  

That will give the decimal amount that will be on your check stub.  

Comment by Robert Teeter on March 22, 2017 at 11:34pm

Continental Resources has filed for Relief for a multi-unit horizontal well. Sections 15 & 10 7W 7N on March 9th, 2017. There are three sources of supply.  Any thoughts? This is my first "rodeo".

Comment by Lynn Lansford on March 22, 2017 at 12:44pm

Thank you Don and John!!

Comment by M Barnes on March 22, 2017 at 9:11am

Thena, 

Mid Continent and Linn have pending causes before the OCC to drill a multi-unit horizontal well through that section.  I would not be too concerned about the bankruptcy.  Most of the companies are getting their affairs in order and emerging from them.  The royalty owner is usually fine.  They need our acreage to continue making money.  The cause is 201701538 if you want to look it up on the OCC site.  Has a nice map of the well.  At 158 acres, you are a prime target for a sales offer.  They want your royalties for that and any future wells.  The location of the pending well tells me that they have left room for more horizontal wells in the future.  Several sections close to you already have multiple wells.  I have found that sales offers are usually quite low to actual value and they hope you don't know that and don't know about the future drilling.  Friend me with the blue icon at the left if you want to know more about the area and what is going on.  Our family hangs onto our minerals.  

Comment by Don Bray on March 21, 2017 at 9:01pm

Lynn, (from John Morgan's link) the one page mineral deed filed in Book 3595 on Page 214 shows you have 1.5 acres (1/2 of 3/40).  You should have been receiving royalty checks from Linn Operating INC.  There are 5 active wells although production is suspect.  Probably the reason you received a lease offer.

Comment by John Morgan on March 21, 2017 at 7:58pm
https://idocmarket.com/Sites#

Lynn the above site Replaced OK COUNTY RECORDS for searching in Grady County.
Comment by Lynn Lansford on March 21, 2017 at 4:00pm

I got a lease offer on Sec.11, twn 9N, range 6W in Grady. My problem is that I share this with my sister who has refused to give me a copy. I don't know how many acres I have and can't find it in the OK records online. I guess the company who is wanting to lease knows, but I would like to have that info too. Anyone know where I can obtain it?

Comment by R Story on March 21, 2017 at 7:39am

It means that at some point in the distant future, the title to the WI of that well is going to be wonky.

Otherwise it should be great news. I trust you received good terms on your last lease.

Comment by Craig Jolly on March 20, 2017 at 9:24pm

Just received some legal papers in today's mail. It seems Cimarex Energy Co. is seeking relief for a "Multiunit horizontal well in section 31,Township 11 North, Range 8 West, Canadian county and section 6, Township 10 North, Range 8 West, Grady county. Not real sure what this means at the moment, but, hoping it good news.

Comment by Gordon Lincoln Cummings on March 20, 2017 at 5:46am

Rise the taxes on the people to benefit the oil guys...

Wrong.

Raise taxes a little on the clean water produced by the OIL GUYS to pay for the clean up,,,,

Right.

If Rick and Scott can clean up the Flint water problem, they may well clean up the Oklahoma waste waste water problem too.

EPA grants $100M for Flint water

http://www.cnn.com/2017/03/17/politics/epa-100-million-flint/

But it never ceases to amaze me how the Anti-Fossil Fuel Fanatics can continually whine about a relatively small amount of money to help the OIL GUYS, but you never hear a peep out of them about the $100 Billion PER YEAR squandered on phony "climate" research.

Developed countries have committed to mobilizing $100 billion a year in climate finance by 2020.

http://www.huffingtonpost.com/barney-dickson/mind-the-other-gap-ada...

But, thankfully, the day of the Anti-Fossil Fuel Fanatics is coming to a close.

Pres, Zero is gone and most of his buddies are on the way out too.

Attorney General Jeff Sessions has asked the remaining Obama-appointed U.S. attorneys - 46 in all - to hand in their resignation......

A good second step would be mass firings at the EPA

https://townhall.com/tipsheet/cortneyobrien/2017/03/10/sessions-has...

There is a new Sheriff in town and his Deputies, Rick and Scott, are OIL GUYS.

And so am I and so should be everybody on this blog!

So the Anti-Fossil Fuel Fanatics had better learn to SUCK IT UP.

Cuz pretty soon the only thing they'll have to do is go to Paris and help stink up the Louvre, like the picture above.

Anti-fossil fuel activists stage Louvre oil slick

http://www.climatechangenews.com/2017/03/07/anti-fossil-fuel-activi...

Don't let the door hit 'em on the way out!

 

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