Is there any activity in 24-10N-9W?
Have an offer. From out of state and do not have clue on value or where to look.
There were two old wells, but they are both plugged. No new OCC cases. There is some new leasing. Make sure that your name and address are filed with the clerk of deeds in CADDO county so that they can find you to lease.
Welcome to the forum!
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There’s a permit and pooling order for sections 12 & 13-10N-9W immediately to your north. The pooling order was for $1,750 & 3/16 or $1,500 & 1/5.
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If your offer is to lease, you may need to get an attorney to look at the lease. The ones I have seen recently in Caddo have not been in the mineral owner’s favor.
If you have an offer to buy, then someone knows something that you don’t know and it would be wise to find out. They intend to make a profit. No harm in that, but if you want that profit instead, don’t jump at the first offer.
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About how old is the pooling order and who is the operator?
I can’t figure out much about looking up records on the OCC sites other than well data. So frustrating.
Thanks for the information! 13-10N-9W went for $6501 per nma in a lease auction in 2017. I’m not sure what the royalty or term was.
We own MI in 19-10-8 Grady which corner touches 13-10-9 Caddo, and we also have interest in 30-10-8 Grady immediately south of 19-10-8. Leased both for $6500 1/5 around the same time as the auction.
We’re getting a few offers on those Grady sections for less than what 13-10-9 pooled for. Its hard to lower our sights after that home run!
My father recently passed away and left mineral rights that he and his brother own equally to us 4 heirs. The Mineral Deed states 160 Acres within the SE/4 of Section 18, Township 8 North, Range 10 West I.M. I have no idea what this means. How do I find out the value?
Welcome to the forum. Condolences on the passing of your father.
He probably did not have the full 160 acres of the SE quarter of the section. Does the deed have a proportion on it like “one 8th of the undivided interest in”…the value as of the date of death can be ascertained by an engineer doing a discounted cash flow appraisal of any current production. Any future drilling will cause it to be more valuable to the heirs. If you sell, you need the estate to declare the value as of the date of death or six months after-whichever is more favorable to you. (highest value)
The executor of the estate should be able to find an appraiser. if not, there are several posted in the Directories tab above.
I only see an old dry hole in your section, so it is not worth very much. I do not see any current leasing either. So might not be worth getting an appraiser. Probably only worth a few dollars an acre.
Make sure that each of the heirs files the probate or title documents in the counties where you have minerals along their names and addresses. Landmen go to the courthouse first when trying to lease. If there is current production, each of the heirs needs to notify the operator so that the royalties can be dispersed.
The “SE/4” is 160 gross acres. Chances are very good that your father only owned a fractional interest in the 160 acres, ie 1/4th of the SE/4 or 1/32 of the SE/4 (40.00 or 5.00 net mineral acres, respectfully). You will need to research the records of the county clerk to determine what your father actually owns.
Sorry for your loss.
Todd is correct, you cannot assume for the deed the actual mineral interest owned. Title examination will often be required.
You can research land records for Caddo County Here: Real Property Official Records Search (uslandrecords.com)
This post is not legal, tax or investment advice. Reading or responding to this post does not create an attorney/client relationship.
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