Received a Certified Letter today in a Black Rock Land envelope containing options regarding minerals in Section 24-3N-6W. Documents inside were from Warwick Investment Group. Best option given that I saw was “Lease/assign your interest for $300/acre reserving a 20% royalty or delivering an 80% NRI.” Personally, I would like to see a 25% royalty option. I guess I could choose to participate, but my wife might have me committed.
Which brings up a question. I see no recent oil & gas leases in the okcountyrecords.com website for that section (24-3N-6W). I wonder why?
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Probably should add… there are zero oil & gas leases in surrounding sections.
Ask about a 1/4th option. There are several leases filed in sections 2 & 3 to the north that have 1/4th leases. Warwick Jupiter has filed for five Audra multi unit horizontal wells with 13/24,
I asked about a 1/4th option. Should hear back on Monday.
Hey Donnie, were you able to get a response on the 25% option?
No, the guy never called me back. I did get a letter from JP Drilling… they are offering a 25% option. I have not seen their lease, but they did some leasing up by Chickasha and the leases they signed up there look pretty good to me. Also, just got a letter today from Plainview Oil Company wanting to lease minerals. Warwick got a lot of Emergency Orders approved and a rig may be on location. I need to drive down and see. I have one brother planning to participate and I may decide to do the same. 5 wells.
I received those today as well. Looks like Cactus 129 is moving in, if not already there. Maybe you could get in contact with mom and us all work together to get the best offers?
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From what I have seen for this area the $300-$400 bonus seems very low to me as well, although I am new to all this and know nothing about it. Is there a way I can look up previous and/or current lease agreements in order to compare my offerings and know what to attempt to negotiate?
You can look up leases on www.okcountyrecords.com for Oklahoma. Bonus amounts are only public in the poolings. The higher the royalty, the lower the bonus. That is normal.
Cactus Rig 129 is on location.
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Great pictures of both energy types co-existing!
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