Does anyone have information as to what may be going on in the vicinity of Section 5, T17N, R05E, just west of Cushing? I have received 5 letters of interest to buy my mineral interest since July 16th, so I assume something might be heating up. It is under lease, and I have no intention of selling, but I live in SW FL and haven't been able to find out what is going on out there.
Duane, Your minerals are in 1 of only 7 unconventional continuous gas regions in the world. Your area has coalbed methane (CBM), shale gas and tight sands gas. Companies that have been concentrating on oil development are now gearing up for gas development and the people offering to buy your minerals are out in front of the gas plays trying to persuade uninformed minerals owners to sell. Here's a great slideshow presentation that shows why I will not sell my Oklahoma minerals for any price.
Mark, I've been in the oil and gas business for over 40 years running small oil and gas businesses and operated a large family mineral holding trust. As you can imagine, many offers have been made to purchase our minerals. The current and future production from these minerals has proved them to be worth 1 hundred times more than the offer an almost identical trust sold for in 2010. Now, that's extreme! I stand firm in stating that I will never sell my minerals because I have never been offered what they are worth. If a person wants more minerals just do like you do and get on sites where people are not supposed to be buying and selling minerals and insult people who are trying genuinely trying to help mineral owners keep from getting robbed.
Thank you for the video, it was very informative. After spending all the time to record Affadavit of Heirships, death certificates and wills for two family members passing, I have decided to contact an attorney to insure that we have clear title. What a crazy and confounding business this has been. The good news thanks to you and Ron Mckenzie I have learned a considerable amount of information in a very short time which has helped me get up to speed and conquer the mountain of paperwork. So thank you for your sharing your expertise.
Quoting one of our Mineral Forum's finest Client Liles on Feb 22, 2012
..."The Mineral Owner needs all the help he can get. Sticking together we can help each other."
My point was as you said. "I stand firm in stating that I will never sell my minerals because I have never been offered what they are worth." I understand that. I don't understand your first comment of " I will not sell my Oklahoma minerals for any price". That was really my main point. Sorry if I was insulting.
Mark, this is a oil and gas information forum not a mineral auction. "That was really my main point."
"Where oil is first found, in the final analysis, is in the minds of men" (Pratt, 1952)
"resource management...the majority of professional geoscientists and have little understanding of the value of traditional knowledge, it's cultural context, or how to approach this topic in geoscience education."
Here's the Model Users Guide to FORSPAN that you will need if you are going to sell your minerals and try to buy minerals of better production in what is knows as "sweet spots", because the traditional random selection process has been replaced using the hypothesis that untested cells having better production will be clustered together. That means all current up to date data in your area must be input into FORSPAN.
Think about this: If you are in an area where someone is offering to buy our minerals you are already in a "sweet spot" of continuous accumulation. Now, if you sell your minerals, how are you going to find better "sweet spots"? There is no telling what someone will make up in order to con you out of your minerals, so if you want to profit from buying and selling minerals will have to thoroughly educate yourself.
From U.S. Geological Survey (USGS)
"the geologic nature of continuous accumulations has become better understood. In consequence, the concept of randomly distributed reservoir properties in a continuous accumulation has been replaced, in FORSPAN, by the hypothesis that untested cells having favorable production characteristics will tend to be clustered together (already correlated), in sweet spots. Once found, sweet spots could be developed more efficiently than a random-drilling model would predict."
The USGS FORSPAN model is designed for the assessment of continuous accumulations of crude oil, natural gas, and natural gas liquids (collectively called petroleum). Continuous (also called “unconventional”) accumulations have large spatial dimensions and lack well defined down-dip petroleum/water contacts. Oil and natural gas therefore are not localized by buoyancy in water in these accumulations. Continuous accumulations include “tight gas reservoirs,” coalbed gas, oil and gas in shale, oil and gas in chalk, and shallow biogenic gas. http://pubs.usgs.gov/of/2003/ofr-03-354/
Folks, I appreciate all of these replies, but my original question "Does anyone have information as to what may be going on in the vicinity of Section 5, T17N, R05E, just west of Cushing?" hasn't even been approached. By the way, I am not without knowledge of the oil & gas business. I spent the first 13 years of my 40-year career as a Professional Geologist exploring for oil & gas in South Louisiana, much of that as an Independent.
Duane, I live in central fl and I know how hard it is to get info. That area is very hot right now. Devon and American Energy are buying up whatever they can. They are drilling wells all over this area. I bet I could name the companies you are getting offers from. Be careful, there are a lot of snakes and sharks out there right now. I have minerals in 17N-1E. There is a lot of drilling going on to the North and West.
Hey Martha, does your unconventional continuous gas apply to 18N-1E and 17N-1E as well. Also, what is FORSPAN. Thanks