I recently inherited mineral rights in Ellis County, OK, Section 2-16N-24W, also known as Dunn 2-A. I am very new to this so would like to know if anyone knows what is going on in that area. It was my understanding that Samson Resources transferred the lease to Fairway Resources and we have not received a (small) royalty check since that happened. I was approached by someone who is with Firethorn Holdings, LLC, and they were looking to buy up leases in that area. I was told that there is little production going on there does anyone have information on this?
The section 12 catty corner to you has about about five horizontal wells. Section 3 has two horizontal wells. 36 to the north of you has two horizontal wells. That is probably why you are getting offers.
Dunn 2A did not have much production between mid 2014 until late in 2017. So they may not have much royalty to give out if any.
Thank you very much for that information! This inheritance was totally unexpected and it’s not my area of expertise so am trying to educate myself. I appreciate you responding so quickly!
In my experience, any time someone approaches me to buy my minerals, they know something I don’t know and they are pretty certain they are going to make a profit. I would rather make that profit, so am patient and try to find out as much as possible and wait for it for our family. There are times to sell for certain reasons, but I get lots more information before considering it.
Mr. Barnes I don’t think she is talking about Firethorn buying the minerals. I think I if I am understanding her correctly that firethorn is “buying” Leases. Is this correct @ikauffman60?
Might be semantics here, but if they wanted to buy the lease, I would assume they would approach Fairway Resources who owns the lease. If they contact a mineral owner and want to “buy”, they may use the word lease, but really mean they want to buy the minerals. I was making an assumption given that I have received so many of those letters which sometimes have deceiving wording.
ikauffman- http://imaging.occeweb.com/OG/Well%20Records/030D2BA4.pdf. Contact Fairway Resources. I see production in 2017. They may owe you money. Probably small.
Yes, Firethorn contacted me about buying the lease. We did not receive any royalty in 2017 but received around $32 in 2016. I have not heard anything more from Firethorn since that first contact.
Fairway probably owes you money for 2017. Contact them. Might be a good idea to wait and see what develops in your area with the horizontals before you consider selling.