The well above in 27 to the end of Feb. did 97,817 BO &347,110 MCF of gas. Below is what they were ordered to pay in the last two poolings I could find as close as I could find to you.
ACTIVITY in Caddo County. Any thing new in 1. 10N 9W? Had a call this p.m. from Cimarex offering $1000 3/16 3 years. This is same as in 2010, but less than the $1340 we were offered in 2007.
Sharon, Williams 1-1H was supposed to drill from 12 into 1 in 2010 by Cimarex. I don’t see that it ever drilled. Hang in there and maybe they will up the offer.
I wouldn’t do anything this early in the game on this one. If they can’t drill in 2-3 years, it is mostly speculation at this point to determine the market value. If anyone else received an offer, you can bet it was the same as yours. Unless you have a significant amount of acreage in that section, I’d pass. A pooling order 5-6 miles away paid 500 3/16 on what is effectively a 6 month lease on targeted zones.
Division orders are proprietary property of the operator and are not filed anywhere. You will have to calculate it based on your net mineral acres, the unit size of the well, and your Royalty Interest in your lease or pooling election.
Sam, Looks like McLinn is in the area leasing as is Echo. Generally, Echo gives larger bonus amounts and better lease terms. Only one lease has been filed in 3-6N-10W this year. Not always a good idea to be one of the first since the offers are usually lower than they will be later. $1000 and 3/16 is in the neighborhood of what I have hears though.
We’ve had a couple of offers in the last year on 1 -9N-10W. Sco-jo is offering $500 3/16 this last few weeks. We’ve recently leased other interest a few miles east over in Grady for $1000. We would like to get at least that much on our Caddo County property too and are going to hold out.
My name is Troy Curtis, a landman, with Concho Land Company in Freedom, OK as well as Oklahoma City. I thought while times are slower, I would offer to help with any questions people may have in general and post my email, conchojobs@gmail.com for any and all questions. I also wanted to offer our services for individuals in need of mineral research or help with production related concerns in all Oklahoma Counties and the surrounding states.