i have minerals in blain county ok, i have started to recieve notices of hearings of what looks like contenential is going to drill new holes, also im getting offers to sell,highest bid is 3000 per acre, need some advice please.
Your in an area of Blaine County that is worth more than $3000 per acre, in the county prices are all the way up to $10K per acre depending on the area. Perhaps that's what Billy wants to tell you also.
I just offered $5000 per acre for minerals not far from yours.
so what could my income be per month if they hit a hot well?
Good afternoon Audie. This is a tough question to answer with not knowing how many acres you own or what Section, Township and Range your mineral interest is in. I'm unsure as to how Mineral Joe would know what your acreage is worth or how he knows he offered 5K for acreage near yours when you didn't even tell us which area of Blaine County you own in but maybe you guys have messaged privately about that or whatever. Point is, with a little more info, I could answer any questions you have about the area as we have been out there for quite a while now.
Mineral Man, let me help get you up to speed for land data in Oklahoma,
If I had to guess, Mineral Joe either entered in the name from her post on a Blaine County search on Okcountyrecords.com OR he did a respondent search on a paid oil and gas internet subscription. Takes a whole two seconds depending on your bandwidth.
When you do the first, you come up with a ratification signed by Audie Winter on behalf of the Winter Family Trust, in favor of Chaparral covering sections 33 & 34 of 14N-13W.
A 2 second respondent search shows the trust listed in a Corporation Commission application for CLR, Cause # 201600665, Respondent # 2 & 4 on the first page of the named respondents. All of that info was provided by her in the original post, you just have to know where to look and what to do with it next.
Steve
Audie,
When I pulled the mineral deeds close to you, and calculated the Doc stamps paid ($1.50 per $1,000 exchanged) Looks like on 3/14/2016 a mineral deed was filed almost 2 miles from you that included the net acres. Those sold for roughly $8,600/acre.
Hope that helps!
Steve
im over welmed right now offers started at 2000 and today i recieved an offer of 500,000 for all 75 acres
need to think this out thanks for all help
Thank you Steve for such a well thought out response. I’m fairly aware of sites such as Drillinginfo and Pangaea because like you, this isn’t my rookie year of being in the industry. Well done. You sounded really smart. I’m sure that’s what you were going for. Keep up the good work.
Audie,
Don't rush into anything in this area, time is actually on your side. Read up on Continental Resources Website. They talk about the future plans and well results in the area. On of there better wells is the Boden 1-15-10X that had an IP rate 3,508 BOEPD (That Well is in the township next door to you.)
Mineral Man, Thanks for the endorsement, and your dedication to help others on this forum. When people can post questions without feeling dumb or worry of ridicule from (Pros) on here it helps everyone to make the best decision for their situation.
sounds good, i dont know what an ip rate is and how that equates to $$$$
im trying to learn, give me a best possible out come if they find a good well?
Audie,
That's more of a question for an engineer than a land man. These publicly traded companies usually post their EUR (estimated ultimate recovery.) somewhere on a press release or corporate presentation. There are a few variables to take into consideration, 1280 or 640 spaced, when "infill" or "development" will happen and how many laterals can be placed in the pay zone without communication, how many potential pay zones are viable, royalty rate, access to midstream, commodity price and so on.
I own/buy minerals and occasionally sell some. A few, it was a good idea, and a few I wish I hadn't. Hind sight is always 20/20. Everybody's situation and time value of cash is different. If you don't need a lump some of cash right now then keep them. If you want to sell half at these higher prices and keep the rest, that option is up to you.
Hope that helps.
Steve
I have mineral rights in section 35, twp 14, range 11. We have received calls offering 4,000 - 5,000 per acre. Does anyone know what the going price is for this area??