our familys prod. is cheroke sand @26-11-11…about 25-30yrs old…depleted…lateral.sections go up to 10,000 ft. out…my verticals are done…but there all devon…somebody give me an azimuth to the surface legal of the nearest horiz
There is a lot of leasing in 7n-10w & 7n-11w by several companies but no Regulatory filings for spacing or poolings. So I would be in no hurry to lease. Would not give option to extend the lease. Would get depth clause and other terms before I signed. They are spending a lot of money for leases so they have something in mind.
Here are some that are leasing .
MCLINN LAND SERVICES LLC 3324 FRENCH PARK DRIVE SUITE E EDMOND, OK 73034
TURNER OIL & GAS PROPERTIES INC. 3232 WEST BRITTON ROAD SUITE 200 Oklahoma City, OK 73120
CONTINENTAL RESOURCES INC BOX 269007 Oklahoma City, OK 73126
DAVE R. WILSON INC. P.O. BOX 5148 NORMAN, OK 73070
CALVIN ENERGY LLC P.O. BOX 5478 NORMAN, -73070
Turner gave a 1/5 in 28 as did Continental in 12,25,27,28-7n-10w
1/5 was also offered on some leases in 7n-11w and Bearcat offered $900 for a 3/16 lease in 18-7n-10w to someone I know.
No drilling but a lot of leasing in 7n-9w .
Guys,
Any drilling activity near 7N 9W sec 30? Thank you.
D
yea and need to start @$900acre.and3/16
Any activity in 07 08N 11W? I’ve a lease offer of 500.00 per net acre, 3 yr. term, 3/16ths and an 2 yr lease option at 125% of original bonus.
Permalink Reply by Cindy Breeland 1 hour ago Delete Received a 368.00 check from sec 17 6 north 11 west caddo county that production was from 2011 and 2012 . Usually the checks are about 1,200 to 1,400 . Does any one have a hunch what this about?
Martha gets huge kudos from my son and I, novices at all this, when she helped us get a lease re-written and a higher offer. Thanks, Martha - you’re the best!
Cindy, It is very typical for the wells to decrease over time or to have some mechanical difficulty. If this is a sudden decrease, then you can call them and ask what is going on. The wells may be down, or they may behind in paying-like a lot! Ask! Sometimes, they will work over a well and get it going again or try a different zone. Could be lots of reasons.
Anything going on 16 11n 13 w in caddo county. Have not had a lease in several years
Alva, do not take the 2 year option. If this is the first offer, it is low. Someone just to the north of you a couple of miles was able to get $850, so you have some room to go up. Make sure you get the right clauses in your lease-not usually the one they offer you. Read over the last couple of months here to get caught up.
Ok Mr Barnes. I found out that St Mary’s company sold our well to Inervest a year ago and they were just finishing up there part when they sent the low 368.00 check. That inervest will start the payouts next month. My question is that we leased to St Mary’s. Doesn’t this new company who has our well now have to lease it.?
Cindy,
Once you have leased to company A and they have a well, the rights are “held by production” until the production stops. Company A may sell those rights to your oil and gas to another Company B. As long as there is production, Company B does not have to lease again. Your original lease may have a clause in in about 180 days of activity on a well to get it working again. It may also have a shut-in clause. Any of these can prolong a lease.
A shut-in clause is for gas wells. If the well tap is closed off for a year (usually due to “low prices” snicker, snicker), then the company is supposed to pay you for that privilege of keeping it shut without letting go of the lease. Most operator clauses will have $1/ac per year forever…… Most old leases do not have the time limit on it, so they have effectively tied up your lease by paying you minimal amounts. Sometimes, they will open a well for a couple of weeks, pay you once and then shut it in for a few more years-dragging it out forever. I try to limit my shut-in clauses to two cumulative years so that if they don’t do something, I can lease again.
Martha, would you explain what a shut-in clause is? I’m still waiting for the lease to be snail-mailed to me, so I haven’t signed yet.
Thanks Martha Thought you were a man LOL BUT YOU ARE A WISE WOMAN
Boy, is that ever great information! Thank you again!
Caddo: Binger Operations LLC; East Binger Unit No. 21-3 Well; E1/2 W1/2 NW1/4 NE1/4 of 26-10N-11W; 70 barrels oil per day, 412,000 cu-ft gas per day; TD 10,200.
Kirkpatrick Oil Co. Inc.; Kern No. 1-4 Well; SE1/4 NW1/4 NW1/4 SE1/4 of 04-08N-09W; 43 barrels oil per day; TD 10,577.
Any activity in , caddo county 17-7=12 area lately? Thanks, Pat
Nothing new. in 17 unless it hasn’t been posted yet.