We own 160 mineral ac , T17N, R11 West, Sec3:SE/4. We sold for $7,200 per ac, however the sale fell through Mar. 5th. Would anyone know of reputable companies purchasing mineral rights?
I would like their address. I was told just last week by a Watonga OK lawyer that Highmark was getting out and our minerals are not worth that much.
Stewart,
Thats correct, the core productive area of the play has been delineated through drilling and the area where buyers are purchasing has also shrunk. Well its shurnk but I guess I should say buyers are still willing to buy in those more fringy areas but the prices have come down since last year since wells have been drilled and decline curves have been normalized over time and they now have a better idea of the returns they will see.
Carolyn, probably good that it fell through since that amount is quite low compared to other offers. The section to the SE of you, 11, was offered over $18,000/ac in 2017.
Are you sure you want to sell? Highmark has a horizontal well planned for this year which may give you royalties for a long time. You should be getting OCC documents from Highmark. If you are not and you recently inherited, then let me know and I can give you their address. You need to get in the loop quickly.
prices have changed significantly since last year. There are still some hot areas that can command large prices but that area has shrunk significantly. Increased density areas are still doing well, most oil companies and or end-user mineral buyers have defined where they are willing to spend their dollars and many offers have dropped by 1/3 or even 1/2 if you can get a current offer at all.
Anyone leasing in the area of 20-17-13 in Blaine County? Our lease is running out.
21 is the section Gould well is in. We have not heard anything about section 20 being in a horizontal. We only had information on 21 being in the Highmark horizontal. We have never heard if they were still drilling or not. We leased in 2015. Lease is up in May.
drilling in 16-12, 17-12, 17-11 is fairly busy right now. I live in 34-17-12 and there are 6 well drilling right now within 3 miles of my house.
Depends on what you define as activity, drilling is different than leasing, different than buying, or can be. VERY broadly speaking, within a few miles of Watonga in any direction is still doing well. Eastern Blaine is strong cept NE and SE to some extent. Southern is more gassy and very spotty, that seems to be a Continental play mostly. You can see where the big wells are, and look at where buying is going on now for a good idea. I think Blaine will continue to be a great area with lots of activity but wild, across the board, high=priced buying has peaked. In my opinion. Course if you are a ‘never sell’ mineral owner then that doesnt matter.
Ann, are you getting paid on any wells in 20-17N-13W? The Gould well is still producing at 640 acres in the Morrow. Only 1 lease in sec 20 back in 2015.
Highmark has a horizontal well planned if they are still in drilling mood. They had put quite a bit of acreage up for sale.
Cam, Stewart, and others:
So which townships would you include in the core production area of the play right now? It seems to me there is activity in most of the 15N and 16N townships, as well as 17N-10W. And then you see a lot of Continental activity (incuding a lot of Woodford) in 14N-13W and 14N-12W and 13N-13W. All that is about half the county though. So in your opinion, what are you seeing as the core production area right now?
Thanks.
Why would a well have a 1st production date that is before the completion date? How is that possible?
What are most people doing about the Strack versus Continental lawsuit? Are most of you staying in the settlement process?
What is the best thing to do about the inactivity of the old leases and wells that are located in Blaine County 15-16-11?
Marilyn, Continental drilled the Coetta #1-15-10XH in 2016. As long as that horizontal well is productive, you will not see any movement to fix old vertical wells. You have the potential for quite a few more horizontal wells. First production was January 2017. If you have not been paid, then contact Continental.
I have a small interest in Section 11, Twn 13n, Range 12W in Blaine County. I receive a production check every few months of approx. $50 from Devon. I have recd offers of $10,000 an acre for my interest. Is production supposed to increase in the area? The production checks are small-why do people want to buy my interest based on current production?
There is quite a bit of drilling in that township. You have horizontal wells drilled or planned in most of the sections surrounding you so a speculator is betting that you will soon get a well. I would recommend holding onto your acreage as those first buy offers are usually quite low to actual value over time.
It would be useful for you to read over the last six months of comments on this forum so you can get up to speed. Also look up the most recent investor presentations from Devon, Continental Resources, Newfield, Marathon, Cimarex, etc. to get copies of their maps and their plans for the future.
Merry Christmas and Happy Holidays to Everyone!
M Barnes, is it possible that we communicate 1/1? I have another question that I would like to run by you?
Is there anything going on in 6 T18N R10W Blaine county. I inherited minerals in Dewey and Blaine and have leased Dewey quite a few time but never Blaine. I don't even get offers to buy in Blaine. Are my minerals just in an unpopular area? Any info would be appreicated and I do not want to sell, just curious.
Mehew #1 just barely producing in the NE4 as of July 2017. You may or may not get royalties depending upon your mineral description. High Pointe Energy has been leasing in that section. Did you register your address with the county clerk?