Yes, saw this in the news. Good news is always welcome, now that there is a more energy friendly administration in D.C.
Iāve received a lease offer for my 10 acres of mineral ownership in Section 5, Township 17N, Range 11W. Itās a top-off lease, with the goal of getting PNG to let go of their leases for the Blehm well. Iām not sure if I should sign this. Does anyone have any suggestions? Thanks.
Top lease offers can be very dangerous to your title. I do not do them. Other folks may have a different opinion.
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I have a fraction of an acre in sect 13, 15n and 10w. Is there anything happening here? My interest is small and wonder if best just to sell, Thanks.
15N-10W is one of the hottest townships in the country right now. You have the potential for quite a few wells over the next few years. Even a fraction of an acre is worth quite a bit. I would hang on, but if you donāt want to wait, donāt take less than about $37,000/ac. Prices might even be higher than that now.
Can anyone provide 3/2017, 4/2017 oil sales numbers for the 9 Ludwig wells producing from Sec. 15 and Sec. 20-16N-10W? Apparently, CLR switched crude purchaser for the wells. OTC site does not show oil sales after 2/2017, and Sunoco crude purchase reports do not list the wells after 2/2017. I am trying to get a handle on the value of my nearby interest if additional wells are drilled. Thanks
Marilyn,
You need to send them a list of information you want to receive. At a minimum the Items should include: daily reports during drilling and completion, well logs, copies of all state and federal forms which are filed. If you have questions regarding your ownership ask for a copy of the title opinion (you paid to have it prepared).
Thank you soonerpe for your response. On one of them we are receiving a daily Partner Report. However, we are not receiving any information on the well that was drilled last year. I will request that information.
We are participating in a couple of wells in Blaine County. Does anyone know what information that we are entitled to receive from Continental in regard to these wells? Are there monthly reports that we should be receiving?
C Bowden 30 17n 12w- Lots of activity in 29 and 32 on either side of you. Carrera is in the area. I have heard of much higher offers in that township, so those are quite low.
Weāve been approached by several landmen re: two interest in Blaine Co 27-28N-12W & 26-18N-12W. Initially worked with Newfield and then they dropped the ball to close leases. Pooling was proposed but did not occur to our knowledge. Trying to gather info on these sections. Now more offers are coming in again and weād like to move forward but be aware of any additional changes or activity in the last 6 months to year that impact the process and rates. Weāve worked with an oil & gas attorney and would like to know if anyone has activity in these areas or has worked with landmen/companies in these areas and how the process has gone. Because our mineral interest parcels are somewhat small, we thought weād see if anyone here had info or insights into the area.
Caroline, I live in the southern part of 17-12 and they are drilling pretty much all over that township. They are still expanding the area of the STACK. Ive been made offers for my minerals and IMO they are not offering enough money for my minerals. I donāt have many acres of minerals as some but they are still worth the same amount of money as larger holdings. Iām keeping mine for the time being until someone offers enough or I can be just as happy collecting my monthly royalty check. If you are wanting to sell I would talk to several buyers and see who will come up with the best offer. I received pooling orders, spacing orders, notifications of hearing and such for over a year before they started the drilling process.
Caroline, Our interests in Blaine County have been sold so canāt comment on what is going on there BUT I would highly recommend Ryan Story when it comes to a landman. He is doing some work for us, is highly reliable, very knowledgeable, and is also highly recommended by others. You can contact him through this Forum using the āMembersā tab and in the drop down menu select LANDMEN.
$16 million Mineral Rights Sale for 880 Acres in Blaine County
August 8, 2017
Edmondās EK Energy and Exploration Company was the high bidder for the June sale of mineral rights to 880 acres of Blaine county land at a price of nearly $17 million dollars.
The June 20 auction was handled by Farm Service Company of Chickasha where spokesman Cody J. White indicated the sale involved 5 separate tracks of land.
āWe closed the mineral sale on Aug. 7th,ā he said in an email notice to OK Energy Today. āIt sold as one tract to EK Explorations, LLC for $16,800,049 which was the high bid at the sealed bid auction.ā
He indicated there were initially 10 bidders but on different tracts. Only two bids were for the entire package.
The sale figures to be $19,090 an acre for the drilling rights.
EK Explorations LLC or EK Energy is an independent oil an gas company headquartered in Edmond. It focuses mainly on finding oil and gas reserves in Oklahomaās Anadarko Basin.
Any more information on the Council Oaks Phillips well 20-17N-13W. Good flare. Oil transports trucks seem to be coming and going. Does anyone know about production numbers.
C. Bowden where did you find the first sale and and gas flow? Is it on Corporation Commission site or somewhere else? Iāve been wondering where to find this info. Thanks!
Here is the link to the OTC tax site. Use leading zero in the location. Your stubs should match these numbers because these are sales numbers (or be pretty close), not the OCC which is produced numbers. Gas can be slightly off due to NGLās.
Soonerpe is right. The OTC data usually lags by about four months. It has a better chance of matching your check stubs because it reports the sales.
1002A for Hershey well has been posted to OCC website.
The survey C Bowden mentioned showed that drill bit and other equipment was lost in horizontal section of well. Workover may have been an attempt to recover these items. There is no mention of these items on 1002A so there is a good chance these items were recovered.
OTC production numbers always lag by several month; I would be surprised if any data shows up before September.
When selling mineral rights, on a PSA, where it says close by 30 days, do they mean 30 business days? And is it common to go over the 30 days?