Hi,
I own some minerals in far east Garfield County. I got an offer for a lease last year, but the company wasn’t interested in working with me on the lease. So I didn’t lease. I know they are doing lots of drilling in Noble, Logan and Kingfisher County. Is anything going on in Garfield?
Good morning Virginia, my family owns some property in Garfield, and they have been approached by a leasing company that is out of Texas. We are not certain if the offer is a reasonable one or not. I too am trying to find out if other companies are picking up leases in Garfield and what the average offers are running. If anyone on this forum has any knowledge or cares to share any information, that would be helpful since I live out of state.
Thank you,
Shan
Shan,
Welcome to out-of-state mineral owners. I’m beginning to wonder if anyone that owns minerals lives in Oklahoma. Most of my property is in Noble, Garfield, and Logan Counties, plus a couple more counties, but I live in Texas. Better weather, no state income tax, and you can even get tractor parts without waiting for the Pony Express to bring it from Dallas.
I have not leased my mineral in Garfield County, but the last offer I got was $250 and $300 with 3/16. This is on the Noble/Garfield County line. I feel that a reasonable lease would be more in the range of $350 to $500. In Logan County, I have heard of leases going as high as $800; Kingfisher County was getting even more. So, I think Garfield County is a little slow taking off. Some of the leasing companies that I know of are Brannon and Bandana, both are out of the Oklahoma City area or close by. M & M is also leasing, but I’m afraid they are only drilling shallow vertical wells in order to hold the leases for the big oil play to get to Garfield. I’m sure there are a lot more companies leasing in the area.
Do you know if any wells have been drilled close to your property? That makes the lease go up. They drilled several vertical wells close to my property in the last couple of years, but I haven’t seen as much horizontal drilling going on in Garfield as in northeast Noble, Logan County, and Kingfisher. So, I can’t give you any really good information.
Good morning, thank you for your response. At this time, there have not been any new wells drilled where my farms are, but recently my brother has informed me that a company out of, I believe, Dallas has been trying to buy up property that currently does not have a lease on it, including ours and some adjacent to us. First offer of $300.00. So I guess we will just have to wait and see. I am so far out of the loop I do not even get wind of local gossip, so it is nice to know that this forum exists - thanks again.
Shan,
What part of Garfield are your minerals? If it’s near the Logan or Kingfisher County, they are going up fast. I haven’t heard of any other that is moving in Garfield.
Shan Shore said:
Good morning, thank you for your response. At this time, there have not been any new wells drilled where my farms are, but recently my brother has informed me that a company out of, I believe, Dallas has been trying to buy up property that currently does not have a lease on it, including ours and some adjacent to us. First offer of $300.00. So I guess we will just have to wait and see. I am so far out of the loop I do not even get wind of local gossip, so it is nice to know that this forum exists - thanks again.
Virginia,
I hope it is OK to post a Kingfisher County question here. There haven’t been any posts on that forum.
There has been no interest in our property near Loyal for years. We have had 3 offers in the last week from $300-500. Looks like something must be going on. How do I find out?
What kind of deals are you hearing of in Kingfisher?
Rick,
Most of my friends in Kingfisher have already leased, so I really don’t know what leases are going for right now. I have heard as much as $800 if they were drilling across the road. Some were getting as much as 25% RI instead of the 3/16.
You can go to OCC online and see what drilling permits have been issued in the area, then you would know how close they are to you. I haven’t been down that way, so I really don’t know what is going on. You may email Mineral Joe and see if he can help. Most of my property is in Logan, Noble & Garfield, so I haven’t kept up with what is happening in Kingfisher. I do know that they have hit a few good wells in that area, but don’t have the legals for them. Wish I could help more. Sorry.
The large well in Garfield County is the Sebranek no. 1-3h at 3-23N-4W. It showed an initial production of 1241 BOPD. The other that I know about is the Sebranek Chain No. 1-3H at 3-24N-4W with an initial production of 156 BOPD.
Rick, I too have land near Loyal (two west, one south, one half west on the south side of the road) with 160 acres of surface rights and 60 acres of mineral rights. Chesapeake offered me $400 and 3/16th and I held off, and now they have pulled out of leasing in that area. Have you heard of any other companies leasing now? Our legals are: NW of 16, 17N-9W.
Tim
We are Sec 32, 18N-8W, 3 miles east of Loyal and 1/2 south. Chesapeake offered us 500 and 3/16 back in Feb. We had the same offer from Tread Energy. Chesapeake pulled out as we were starting to negotiate with both. We signed with Tread. The landman was Jim Ashford.
We are in Florida and used Ralph Harrison (attorney in Kingfisher) to handle the transaction. He has Ashford’s contact info.
Ralph is my fraternity brother and my lawyer too! Small world. I will give Ralph a call!
I have some open minerals south of Garber. I’ve heard of some pretty large bonuses being paid north of Garber. Who all is leasing in the area, and what type of bonuses are they paying? I’ve seen Plymouth, Wicklund, and Devon actively drilling in the area.