Thank you M Barnes!
There is some leasing in 9N-10W in 2018. section 2.
Mid-late 2017 in other sections.
Some leasing in 7N-9W in 2017. Mostly section 7 and 17
Any activity in 16 11n 13w in caddy county
Ray, there are spacing and exception cases pending in 10 and 15-by Excaliber. Usually leads to a well.
A bit of leasing in 16 by Bistro in mid 2017.
Has anyone heard of Summit Resources? I received their contract in the mail for Sec. 2 9n 10w and it does not stipulate what zone their target is. Does this mean they would control everything? Also, their offer is 950.00 per acre with 3/16th royalty. Does that seem fair for this section?
Summit is probably a leasing company for the operator. You need to ask whom they are leasing for. You need to ask for what their 1/5th price is as other lessees in the area are offering that royalty. Summit has already leased at that royalty in your section. A lease usually covers from the surface to the center of the earth, so you need to limit the depth. The first offers are usually low, so that is probably low. You will most likely need to negotiate some of the clauses from that first contract as it it probably not in your favor. If they have a draft payment letter, do not sign it. Friend me and I can walk you through the steps. Blue icon
Hi Friends, I'm looking to lease in 11N-7W. Does anyone have any recommendations? Thanks!
11N-7W is in Canadian County. You may have better luck in that county forum.
Word of caution - do not deal with Blue Ribbon Energy if you want to get paid...Nelson Bolen, Kristianne Sadler, Greg Albright - all promise quick payment - but are way behind schedule and owe a lot of money.
any activity in 8-11N-10W
James
There was some leasing by Mid-Continent land Services, R.D. Williams, Bistro Energy and L3Energy in 2017. No new permits in the township in 2017.
My sister and I own 60 acres of mineral rights in Caddo County--Section 16-10N-10W. We had entered into a lease with Blue Ribbon Energy back in April for $600/acre. Here it is--almost Christmas--and we haven't seen a dime. Has anything started happening in that area? Should we get an attorney?
Cimarex applied to the State Corporation Commission for approval to drill a multi unit horizontal well in Sec 1 10N 9W and Sec 36 11N 9W. The drilling is approved and I believe currently underway.
I believe this area is "pooled", but not sure.
It's a Woodford shale common source horizontal well. 50% of the completion interval in Sec 1, 50% in Sec 36. I and other family members have leases with Cimarex.
Sec 1 has drilling/spacing orders in place, Order no. 172284 and 558021. Sec 36 has drilling/spacing orders, order no. 138217 and 560848.
The drilling will/is from the S/W 1/4 of Sec 1, north thru Sec 36, it will parallel Sec 2 and Sec 35. The drilling will start on the S/W 1/4 of Sec 1, which is where we have rights. This drill is proposed into the Woodford Shale Common Source level/area.
This area seems to be getting busy. Mapping shows this location has multi potential and has 3 "layers", it's in the SCOOP and Cana Woodford plays and includes the Mississippi Lime Common Source, the Hunton Common Source Supply and Woodford Shale Common Source Supply. Has three different potential sources/areas/depths to drill.
Does anyone else have any info about this? This area is heating up.
Thanks Toni
First, check your draft payment letter if you have one to see what your terms were and how you need to complain. Many of them have quite a long time frame on them. If you do have one, then figure out what you need to do and make sure you send everything by certified letter return receipt and keep copies of everything. Start with a nice letter and be ready to follow up.
I don't see that it has been filed yet (at least under Travis) so that is good. From what I hear, they are really far behind on their title work.
To help with this issue of delayed payment of a bonus (for future leases):
Do not hand over the original executed lease at the outset. Instead, deliver a scanned copy of the executed lease and note on the Order of Payment that the Original will be delivered upon receipt of payment of the bonus.
If the leasing company fails to pay within the agreed time, then you can void the deal and are free to lease to someone else.
Anybody get the check from Blue Ribbon Energy yet? i have a lease in Caddo county! good info out there,glad you folks keep me informed! Merry Christmas!
James- I started negotiations with Blue Ribbon in Oct 2016, came to an agreement in May 2017 and was finally paid in November 2017. I handled it like Sam mentioned- photocopy of lease at first and original on delivery of the check. I visited their office in OKC to really assess their situation. My conclusion is that they are running on the ragged edge in terms of the number of deals they are working on and in terms of obtaining funding at a pace that keeps up with their leasing agreements. I do not think there is any bad faith here- just too much work and not enough resources to stay ahead of it. In the end, patience paid off and I feel that I received a fair lease bonus. But I did stay in close touch with them especially once they were past the agreed date for payment. Merry Christmas to all!
thank you Steve Hunt
Thanks Melanie. Greg said that they might start sending money the 21rst. I will be sure and call them. Thanks All