I hope someone can help us. My husband and his 4 brothers were notified 3 years ago that his Uncle had died and each had inherited small amounts of mineral rights to property he evidently owned. Citizens Energy had contacted us to do a lease with them with a bonus payment of either $400.00 or $250.00 plus royalty. We had previously gotten checks for $1500 dollars and another for I believe 1000.00. Each brother chose what program lease they wanted Then we got court documents that showed it was in litigation, and then another court document that stated they were pooling. Now we are getting bombarded with letters in the mail from various oil companies wanting us to sell our rights. None of us supposedly even own an acre of the land in Grady or Canadian County. I was reading forum and read that number one, Never Sell, Number two never sign the lease with out getting the bonus money first, and make sure you put down no deductions for transportation or other costs. Two of the brothers sold their rights to someone for $3000, on Canadian and $1000 on the two parcels. Now my sister in law and her husband are selling theirs for $3000 to Dukes. That leaves us and our baby brother left to sell or lease. We do not want to sell. Saints wants to buy us out with $3,402/per acre, and $1350 for the mineral sale in Grady.. we are talking about mineral rights of 0.75671 in Canadian Co. Sec 3 Twp 10N Rge 7W and 0.45222 in Grady Sec10 Twp !0N Rge &W. I would think even with this small amount it would be better to Lease than to sell as from this forum I read Canadian is Hot property and I would assume with all the offers we are getting like someone said. They know something we don't and money is to be be made.. Where would I even begin to negotiate and at what price.. Devon sent a Division Order, I do not even know what that is??? All I am working on is a gut feeling not to sell and this forum to help me figure this out. Please can someone direct me on what to do?
Do not sell! Contact Mr. Barnes on this site. He knows whats going on in that area. I also am in the same boat as you, getting all kinds of offers, but I am waiting to see what is going to happen...and the when.
If you don't want to sell, don't sell.
I just talked to ci
I just talked to citizens energy and becausse we did not meet the deadline of March 22nd as it was pooled, we have to accept the 1000 dollar bonus check and 3/16th royalty checks for one year..We never recieved papers from them, and had no knowledge of any of this.. I guess were stuck..can I make a new lease with someone else after a year?
The operative question re: pooling for me is pretty simple...did you receive the pooling order? If not then the case can be made that you have not been pooled. That seems to contradict with your original statement though... "then another court document that stated they were pooling". Hate to nitpick, but the details are extremely important as companies do miss people from time to time and if you were missed then you weren't pooled. There are curative poolings for this very reason.
I would pull the pooling order and see if your name and address is correct on the respondents list. Easiest place to start.
If you got a division order then they have already drilled the well.
I was told to sign the division order from Devon as that means we already have some royalty checks coming to us from them...Also made a better lease deal with another company, for 3 years. After 3 years I will decide to stay or go with someone else. I have tried to friend M. Barnes I must not be doing something right as I tried clicking the blue Icon, and told that his profile is private.I got $1100, plus 1/5 which was better than what Citizens tried to give me... soooo we shall see in the future what it brings. I love this forum and really appreciate everyone who has been so nice in helping to answer my questions. Thank you all so very much!
where are they drilling, how much are mineral rights selling for in Canadian county? we have our minerals rights leased...we got a letter in the mail to buy...and just got a call for my husband who is out of town..so don't know what's going on...
SELLING OR LEASING is really a personal decision that you should make based on your circumstances. Many people, will never sell their mineral rights, and some people don’t want them. Either way mineral rights can be valuable, they can provide a much needed source of liquidity either through lease bonuses, royalty checks, or from monetizing them similar to your relatives…at the end of the day, its a matter of personal choice.
Relating to the area you mentioned, Citizens permitted and spudded an extended reach well which starts in S3411N7W and ends in S310N7W - you should have received some notification on it. Devon has a well on the section line in S1210N8W. You are on the edge of the stack/merge Woodford oil/condensate window and the Meramec window. Also have springer potential in that area. If you are still kicking this around or would like to chat, feel free to give me a shout.