Hello, Does anyone know of any activity in the area of Township13N, Range 8W, Section 2 and 3?
We are starting to get offers.
Cimarex and Paloma Partners have filed quite a few increased density cases at the OCC. Sections 12 & 13, 18 & 19 17& 20. Probably why you are getting offers in nearby sections.
Thank you. Is there a way to find out more information?
What type of information? If drilling is heading your way, then you will get mailings from the Oklahoma Corporation Commission. Make sure that your name and address and description of acreage are properly filed in the Canadian County clerk’s office so they can find you.
We have an offer on the table from a Mineral Buyer for oil and gas rights in Canadian County. We have negotiated a price that seems to be fair but feel that putting it out for auction would assure the best offering. The minerals are in Section 3, 13N, 8W. There are two horizontal wells by Devon on these properties. Where would be the best place to auction? Is it better to act now that prices are high for oil?
There is a good bit of drilling in that area.
Auction seems like a good idea. We chose to maintain the mineral rights and sold the surface.
I’ll be interested to see how the responses go.
Good luck!
There are several auction sites out there. Be aware that they will charge a fee. Also, you may have a capital gains tax, so you need to know your original cost basis.
In my experience, the offers to buy have not equaled the royalties that I received from wells drilled soon after. They plan to make a profit off of you. They discount the offers for the time value of money which I totally understand. They usually pay for some discounted value of the currently producing wells, but not for the value of future wells.
Every mineral owner has to look at their own reasons and make a decision. You can sell all, sell none, or sell part and split the risk.
Citizen, Devon, Paloma, Warwick Jupiter and Cimarex are very active in that township. Offers quite often come before the drill bit. Devon is your operator. You might contact them and see if they have plans for infill drilling in the section.
Thank you for your valuable advice. I am doing the research and believe we have enough input to make a decision.
This topic was automatically closed after 90 days. New replies are no longer allowed.