Cleveland County, OK oil & gas discussion group. Share your experience regarding lease bonus, royalty rates, drilling activity, and oil & gas news.
I have a share in 2 wells in Cleveland County, Plains Marketing/DCP Midstream. Wells named Hinkle 1-5 & Hinkle 4-5 @SE/4, NW/4, Sec 5, 7/N, 1/W. The royalities have been pretty small, and I was wondering if I could find out how much they produce, and what is the play in that area? Any news at all is appreciated. Thanks!!
Just rec'd an offer from UDX to lease in Sec 17-6N-1E, says that Ranken Energy intends to drill a test well. Have had many lease offers, always very low like this one, however, haven't mentioned actual plans to drill before. Anyone know of any new activity in the area?
Sara there is very little activity going on in the Cleveland county area. According to a website I belong too they are only reporting 2 or three lease prices for the last year and they are $100 to $125. Arrowhead is drilling in the 9N-1E one sucessful well early in the year and one drilling now. It just takes a good test welll or two and the area could heat up some. It was just a year ago when there were only 3 or 4 rigs drilling in the Grady County and Stephen County now there are about 16 rigs in the area with prospects of many more. You can always counter offer their lease and make sure you get any clauses to your lease you want to add.
Thanks Richard, do you know if I don't lease now and wait to see if pooled, would I then be able to get a depth clause and/or a gross production rather than net prod. clause? Or would that need to be negotiated for now?
Sara i am not sure on your question, you mihgt ask either Rick or Michael in the Stephens County forum. L really do not think waiting on pooling at this point will benefit you with such little activity in the area. IT alsodepends on the amount of acreage you own, stronger bargining power.
Any word on activity in Cleveland county. The per acre offers seem to be getting higher.
I have interest in S17-6N-1E. Rec'd today notice of pooling and spacing by Ranken Energy. I am not leased, had rec'd offeres in the past but they were so low I didn't respond. Anyone else have interest in this area or any other info ?
Sara, Ranken has done extensive seismograph over the last few years. UDX out of OK City handled that and a lot of their leasing, I considered the landman to be very professional. By the way, low offers are quite relative. I had no problem getting all the favorable lease clauses included, all I did was ask, and no you won't get any of that in a pooling.
Ranken has been active in Garvin Co. and moving north into McClain and now into Cleveland. They seem very selective in targeting 80 acre tracts. Friend me if you want more info.
Wesley, I have five acres of mineral rights in Cleveland County, lasted leased in 1997. I haven't been contacted about leasing, but I am curious about any new developments. I also have mineral rights leased in Stephens County, which very active.
For everyone in these discussions....
Do NOT do business with Ferrell Oil out of Oklahoma City. We had an offer to purchase minerals in Grady County, 11-03-06. Jim Meyer with Ferrell said he represents a college endowment fund and wanted to purchase our property for the school. We negotiated a purchase contract with them and was asked to fax it to them with our signature so they could show it to the school to get funding to close the purchase. He said it would take 30 days to do a title opinion. They, however, never did sign the contract and return it to us.
As it turns out, they are a broker and do not purchase property for their clientele rather than look for a buyer once you agree to sell to Ferrell Oil. They will want to issue you a 30 day bank draft and if they can't find a buyer for your property in those 30 days, they just don't pay the draft. We negotiated to be paid by ACH/Wire Transfer.
We will find another buyer but DO NOT do business with Ferrell Oil out of Oklahoma City unless you want to sit around, be lied to and then never get the deal closed.
Also be wary of them doing business under another name.
For Frank Miller-
Sorry it has taken me so long to respond. I am only monitoring that small part of 5N-1E in Cleveland County as well as all of 6N-1E. If your minerals are in this area, add me as a friend and I will share as things unfold, hopefully.
I recd' the spacing notice for 17-6N-1E. I leased it to UDX last year with all favorable clauses
and hope this spacing means they are going to drill...anyone know what is going on with it?
We got 250 an acre and seemingly good lease terms in section 12 just a month or so ago. They seem to be moving forward and planning to drill soon.
I have interest in 17-6N-1E. Quite awhile back I received an offer to lease but did not reply. The offer was low so I thought I would wait, I figured if pooled it would be at least as much as the offer if not more. So, if a spacing notice has been applied for does that mean it has already been pooled will that be later. Should I be contacting someone?
Matt S - would you mind sharing township and range of your section 12?
Ranken has just started a well this week in Sec. 35-6N-1E
It is on the fast track, no application for permit posted yet - they asked for and received an emergency order - moved the rig in Tuesday.
Sarah - Your pooling Final Order for 17-6N-1E was signed Monday. You should receive the paperwork Friday or Saturday as the attorney must mail a copy within three days. Here is the link http://imaging.occeweb.com/AP/Orders/occ5020795.pdf
Section 14. Been offered $200 and 1/8. This sounds low to me. I read in another forum (can't remember what it was) that someone was offered $500 and 3/16 in a different section. Will really appreciate any help or tips.
See my comments of 8-31-13. A friend suggested that I give a more detailed location of my area of interest.
Location: A 120 acre tract in the NE/4 & NW/4 of Section 14, T7N-R 1E
has anyone heard of any activity in 12-9n-3w - is anyone interested in purchasing minerals in this section. let me know
Anyone aware of anything going on in 10N 3W? I have rights in sections 29 and 32. I recently acquired these rights and don't hear anything about that part of Cleveland Co. Is there anything going on?