Angela, I am a mineral owner in Blaine County (family is from the area) and will be happy to have someone in my office look up a well(s) on our database. You can email me at jimedsel@edselholdings.com.
Angela:
You can look it up online by going to:
Choose āSearch by Legalā and put in your section township range. It will bring up the wells, and you need to drill down on the well of interest. Choose the Production History tab.
A few months behind to be sureā¦
Lauren,
Please abide by the rules of the forum and use the market Place tab above for solicitations. This goes for all of the counties you posted in.
Does a leasing company have to record an extension of a oil & Gas lease?
What happens if the Oil & Gas Co., does not contact the owner of the lease before the expiration date, but does want to extend the lease.
Iām in the position of this above situation, and they have said that they will send the bonus money. I will be in a position to ask for a higher RI if I donāt accept. Just looking for the group for some answers.
DR
D.R.
I have talked to may attorney about this in the past, and a company is unfortunately NOT legally bound to record an extension of an Oil & Gas lease.
If you have an extension option in your current lease, you MUST have received the funds for the extension PRIOR to the expiration of the lease.
If you do not receive the funds in time, you are free to re-negotiate with anyone, not just the original company. And you can re-negotiate the entire lease, not just the RI. If you failed to include depth clause, pricing clause, Pugh clause, etc then be sure to get that done.
Let me know if I can help further.
JW
Thanks, thats what I was hoping to hear.
I will let you know how I make out.
DR
Weāre in 15N 10W and are getting buy offers at 6600 on a 3/16 th. Weāre not interested in selling. Weāll wait until the leases run out and look to release; if not we have good leases.
Jerame, donāt sell!! Lots of things are happening.
Read over the last six months or so on this site and the Discussions above to get caught up.
Thanks Mattā¦ Its very interesting that I have started receiving the offers all at onceā¦Must be some activity in that area!
I have min. int. in the 10W range also and have gotten offers as high as $7500. The advice I have received is- this area is probably āhotā and the purchase offers are low-ball. In other words, donāt sell (unless you NEED the money).
I have a small tract in Blaine County, Section 16-T17 Range 11 West. I have had numerous offers to purchase the mineral rights on this land. I did sign a lease a year ago on this property. Iām just looking for opinions on rather or not I should sell this interest. I have had offers from 3200-5200 per acre. Any advice or insight would be much appreciated. Thanks!
Thank you Matt. Friend me and weāll talk.
Thanks, M Barnesā¦the information is overwhelming! I appreciate your time!
I am confused about the offers under forced pooling. My father in law owns mineral rights in sec.7 T16N R11W that were leased originally in 1993. After so many years new offers arrived in the last few month both to sell or to lease. Some of the offers to lease were on the low side contending that the they will have ātop Leaseā ie. fight to void the old lease since the well not producing in paying quantities.Since then I found the the mineral rights are under forced pooling application made in early Sep.2015 by Continental Resources. Were can i find what are they offering in bonus and royalties under the forced pooling ?
Rami:
There is a pooling cause on this property, 201504718. However, it is not approved yet, and so there is no order, and no prices yet. Here is the link:
The Dingo 1 well is active, holding the entire section, but the production (gas) is absolutely tiny, so a case could likely be made for a top lease.
Continental has several active pooling causes in 16N-11W, but no approved orders yet. However, this is very close to their big wells (recently announced) in 16N-10W. For a clean lease, you might expect big bonus money in that area, probably $2500 an acre and perhaps considerably more just to give you an idea. I would go for a 1/5 or a 1/4 lease if you can get it, and accept a lower bonus.
I own a small mineral acreage that Plainview Oil has offered to lease at $1,250 per acre at 3/16 royalty for 3 years with a 2 year option to extend @125% or 1,562. Please explain what @125% is and which is better for me $1562 or 125%? Thanks
Charles,
You do not want a 2 year extension. It ties up your acreage for five years. In that time, prices can go up or prices can go down and you wonāt be able to negotiate the best deal. 125% of $1250.00 per acre is actually $1562.50, so they would be shorting you.
If this is the first offer, it is low, so tell them you want the market price that will be offered at pooling. If you feel like sharing the township and range, we can tell you what the ballpark for the area is. Do not take the first lease they give you. It is not in your favor, but can be negotiated to get much better terms. Certain parts of Blaine are getting nice amounts, so you want to get what is market rate and a lease that protects your family for a long time.
Ok M. Barnes the acreage is in section 4-16N-13W, Blaine county, of course. Thank you
Lanny-got it
Completion reports-none in 18N
2-17N-13W Miss Mary 1-2H 2012 Miss 52 BO 880 MCF online
26-17N-13W Kathryn 1-26H 2012 Wdfd 20 BO 1537 MCF online
28-17N-13W Crystal 1-28H 2012 Wdfd 87 BO 2099 MCF
31-17N-13W Ralston 1-31H 2011 Wdfd 160BO 2454 MCF
35-17N-13W Widney 1-35H 2011 Wdfd 122 BO 1901 MCF, Miss 122 Bo 1001 MCF, (that looks funnyā¦) online
16N had 8 completions only three online so far.
4-16N-13W Plummer 1-4/9H Wdfd/Miss 195 BO 4544 MCF online
4-16N-13W Carie 1-4/33H Wdfd/Miss 128 BO 2159 MCF online
17=16N-13W Teel 1-17H Wdfd 55 BO 2846 MCF online
https://www4.oktax.onenet.net/GrossProduction/PublicSearchPUNbyLegaā¦ You can look up the last few months of production here.
M.B Yes I am currently receiving royalties from Devon( I signed a lease with QEP in 2011 and a division order from Devon in Sept. 2014. So why is Plainview sending me a lease offer.Royalties are from Carrie