Canadian County Section 1-14N-5W

#1

I just got a very low offer to purchase Canadian County Section 1-14N-5W. I have already been receiving small royalty checks from Superior Pipeline. Does anyone know what is happening in this section?

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#2

Offers to buy usually indicated something is up. Section 35 catty corner to you has pending cases for horiozntal drilling. Sec 36 has pending cases for horizontal drilling as do 2 & 11. So sit tight and see what is coming for your your section.

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#3

What is the purchase offer?

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#4

Really low at around $1,000 per acre.

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#5

That is ridiculously low. I am in 14-14N-5W and leased last year for 2200 and 20% for 3 yr. I would definitely hang on. The well in 15 -14N-5W that was just completed looks to be a big one from the tanks and the burning flame. They are running a 16 inch */- pipe to it from The North…

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#7

Let me rephrase the last statement.

I will coordinate my family’s efforts.

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#8

Scott: I would hold tight. That is not as much as a double leasing bonus. Youwill get more than that in 6 years if you lease again…

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#9

We leased in 12n-05w for $3k an acrea and 25%

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#10

T_Waller, can I ask who leased for that and when? I have some acreage in 13-6, that’s better than my offers. Maybe they would be intereste in mine also. Thanks Little Ricky

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#11

For Canadian County 1-14N-5W, would you take an offer of $4400/acre to sell, look for a lease or hold for a better offer?

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#12

What royalty do you have? 1/8th will have a lower offer price than 1/4th, etc. My opinion is that is too low. Most first offers are. Since pooling offers in nearby sections have been at $4000 1/8th, then if it were me, I would hang on for a lease. There is quite a bit of activity in the township.

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#13

We are part of a large production tract of 740. I believe the royalty is 3/16, but the actual payout is 0.000946 of the total production.

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#14

The payout is percentage or 0.000946%

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