I have MR for some acreage in the title area. Can anyone tell me if there is anything going on near there. My lease has recently expired and wondering if it will be worth someones leasing it from me.
There are horizontals all around you in your township. 25, 26, 35, 31-17N-12W, 1-16N-13W. You may get some leasing interest. Newfield leased in 36 in late 2017.
Thanks. I am now an out of stater and it’s hard to know what’s going on. Any idea what leases are going for now?
Devon pooled 36-17N-12W in Feb 2017 for $2000 3/16 and $1800 1/5. Triumph pooled 24 in May 2018 for $5000 3/16 and $4500 1/5 plus $3000 1/4. My, what a difference a year can make! They pooled 35 for $550 3/16ths, $5000 1/5 and $3000 for 1/4. I would take the 1/4 myself.
Thank you. You have been very helpful.
Are you getting offers from bluechip energy?
No Im not at my desk I can tell you the name of the company tomorrow
Do you solicit someone to lease your rights, or just wait for them to come around? My lease expired last month and am wondering how to get it leased again. As you can tell, I’m new to this.
Both. Usually they come find me. However, I do look for other lessees on occasion to get a more competitive deal.
Are your dealings primarily with land men or oil companies? How do you find your prospects? I just sent an email to the land man who leased last time.
I keep track of what is going on in my areas. I have some land folks that I trust, so I call and offer them things. I look up who is leasing on a service I pay for, but many of them can be found for free (to look) on okcountyrecords.com
Let me add to what Martha stated.
I see people trying to get there minerals leased when there is no “real” market on it. Unless there is leasing in your section going on, or with-in a 2-3 mile radius, it may be best to wait until that interest develops. Usually if there is no active leasing, the offers will be very low if at all and usually for an extended primary period with a option to renew. If you do lease, you might regret it later when interest in the area actually develops.
I understand what you’re saying. I’m not desperate to lease. It seems there is some activity in the area and wouldn’t mind cashing in on it, so to speak. I used to get offers almost every week, mostly wanting to buy. I’m not the least bit interested in selling.