I know the activity has slowed the last couple of years in Blaine County, but I just received an offer to lease in Section 31-15N-11W. This section is just west of Greenfield. They set up a shale pit there a few years ago when the area was active. I would appreciate information on Blue Star Land Services and if others have received offers in the area. My uncle out of state is ready to jump on this 1st offer, so I would like to be able to give him more information.
We have received an offer from a landman for Continental for a lease in Blaine Cty, Section 7 - 16N - 10W. The offer is $600/acre, 3/16. Anyone else seeing activity in the area, or have insights on these terms? 2 years ago they offered $1100/acre, 3/16.
Thanks Bruce. Yes, 3 years ago I know there were some leases for $1000 or more in the general area. Low gas prices have certainly impacted the bonus being offered. If you donât mind my asking, was the lease from Marathan this time, or was it someone different?
JW
Sorry for the delay in responding. My brother and I own mineral rights for 152 acres in Section 7-17N-13W. They offered $250 and I got them up to $500. Lower than what we expected but activity has slowed due to gas prices.
JW
The company is Marathon.
Need Landman in area for possibly a few probate checks, a days work at most. Anyone in the area? 918-625-7355
Jane:
From what you describe, your property is HBP (held by production). In other words, there is an existing lease that remains in effect as long as there is economic production on your property. The only people who would receive lease offers are those who have non producing mineral rights. There could still be additional wells drilled in the future on your property under your existing lease. I hope this helps.
I am new to this group and have a question/questionsâŚ
I inherited minerals in 1988 near Homestead, Ok. Recently I have been told by people that I personally know that they have received offers to lease their minerals in Blaine Co. During the time frame of 1988 to present day I have never received any such paperwork. Is there such a thing as a lifetime lease? I receive checks from Range & Chesapeake. Should I contact these companies and see what their comment it?
Thanks!
Thanks JW for the reply. The checks I receive are few and far between. Oh the good old days are long goneâŚ
Any status/update/info on Blaine near Section 16, Township 16 North, Range 13 West? Thanks.
Section 33 17N-11 W.I.M. Blaine County Oklahoma
Rate is probably anywhere between $400 and $675. Make sure they are offering to lease not purchase. I have had two unsolicited letters wanting to purchase.
I have recently received and unsolicited offer to lease oil and gas mineral interests from my family. Property located in Blaine County, OK section 11-15N-12W, SW/4 and N/2 SE/4 and S/2 SE/4 (an undivided 153.33 net mineral acres). I live out in Oregon and have little experience with mineral interest leasing. Anyone know what the going rate is?
Thanks, in advance, for anyoneâs input!
Carrington Barrs
Carrington, who is offering to lease?
I recently leased with Continental.
It is definitely only a lease. 3 year with a 2 year option @1.25%. Not sure who is offering, but I will ask. I have only been dealing with a leasing agent so far.
Cold Snap has contacted me to lease in Blaine and Major Counties.
$600.00/acre, 3/16ths 3 year with a 2 year option to renew. I threw it away. I wonât lease anything for less than 1/4
You do not want the two year option at all. Do not go with less than 3/16th. Sometimes you may want to get a 1/4th, but not always-depends upon the reservoir. Make sure you get the correct clauses-the lease they offer is not what you should end up with. You need no deductions, a depth clause, a limit to the shut-in time frame and a commencement of drilling clause. I do not accept a top lease clause.
Thanks all for the input. Because I have limited experience with these leases and their language, Iâd like to have someone look it over and review it all with me and make sure my family is fairly compensated and protected. Any referrals of an attorney or mineral rights leasing specialist that I could contact?
Carrington,
Why donât you friend me first and I can walk through the lease with you for free. Depending upon how many acres you have, you may not need a lawyer. Or I can give you some tips and then if you want a lawyer, you can spend less time with them and save some money because you will have very specific questions and not be starting from ground zero. I am a certified minerals manager.
I am again seeking help from those more knowledgeable about leasing mineral interests especially with the changes taking place in the oil field now. We have a small interest in Blaine county Sec. 2-15N-12W, which Cimarex is interested in now. Does anyone know what the going rate is now with the changes taking place? Your help is most appreciated.