Please read our earlier post under Parentof4js re: the questions we have. Here’s another question and theory.
Here’s a theory re the offer by a landman to purchase our mineral rights on our leased property: is it possible that oil has already been discovered nearby in the acreage adjacent to the acreage we own mineral rights on and the oil company is trying to buy our mineral rights for cheap based on this insider information ?
How do we find out if there is drilling occurring nearby our land?
Thank you for your time and attention to our question.
If this is Texas property, go to the Railroad Commission website, open the GIS viewer, enter your County, block & section info. Make sure you select the option on the legend side to view oil & gas records. You can see info about approved and drilled sites and usually, look at plat maps filed by operators. That can give you what you want, but remember that geology can change quickly. Look at the maps in Winkler County and those in the Eagleford Shale plays to see graphic differences of one side of a fault vs another
Short answer is yes: The closer good production has been found near your lands, the higher the interest level of someone's wanting to buy your interests.
Unless you have a need for the money, I advise that you do NOT sell. If you just want some money to play with, then do not sell ALL of your interests. Maybe 1/4 or 1/2.
And whatever their original offer is will typically be about 1/3 to 1/4 of what they are actually willing to pay.
If you will post your legal description(s), I will send you a map and table of the Permitted and Producing Wells in your area. Those should help you see what is going on in your area.
Hope this helps -
Charles Emery Tooke III
Certified Professional Landman
Fort Worth, Texas
Thank you Mr Tooke. To answer your question: In section 7 township 6N-2W we own the mineral rights on 220 acres in McClain County, Oklahoma.
Please see the attached.
All I see within your Section are Dry Holes and Wells that were permitted but never drilled.
There was a Horizontal Well drilled to the Woodford - Hunton Formation that included acreage from Section 8 to the east and acreage to the south, but it came in at only 60 BOPD and 479 MCFD. I don't have access to pipeline maps for Oklahoma, but could not find any reported production from it.
There are a few additional Horizontal Wells Permitted or Drilled back to the West and Northwest, but they are so far away from your lands that I didn't look them up. I can if you would like me to, but at the present, I don't see anything that would make me want to buy your minerals.
Perhaps your potential Buyer sees or knows something I don't. I'll ask around about Western McClain County, but I don't see what they're all excited about.
Wish I had better news. Will let you know if anybody I know knows more about the area than I do.
Charles
658-01.AREAWELLSMAP.pdf (36.5 KB)
659-02.MISTEREDNO.117HCOMPRPT.pdf (638 KB)