I have been offered a lease arrangement for mineral rights that I inherited and own in Hughes County. Since I live in Texas, I know no one in Oklahoma to get any sort of comparison to the pricing I have been offered. Does anyone have current pricing offers for oil/gas leases in Hughes County? Would really appreciate any information that is available.
Hughes county varies widely. You would have to give at least a township and range to narrow it down a bit.
Sorry, the description is Section 16-09N-10E:NW/4 SW/4
There is some increasing activity in that township, Two pooling hearings are pending. Once those are heard, the public prices offered will be available. Ask what they are offering for 3/16, 1/5 and 1/4. Ask who they are leasing for.
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M Barnes: where do you find public prices? I’m afraid I’m just accessing a fraction of OCC data. PS. I sent a personal message earlier but may be open to public. I got a msg stating it must be approved before…
The pooling answers are public knowledge on the OCC website. Apparently easier to find on a PC than a MAC, so I use a paid site to hunt them quickly. Sent you a message back.
I just received $350 for 1/5th in 9N-10E.
Claudia, we received $500 for 1/5th in 9N-11E. Just FYI.
Christine, thanks so much for sharing the info.
Christine, do you mind sharing whereabouts in 9N-11E?
Thanks!
Claudia- I have an offer for $500/nma, 1/5, 3 +2 in 9N-12E. My sense is that you keep an eye out in the area. Would you have a minute to discuss by phone or email tomorrow? Thanks.
Absolutely. Will message you my contact info. Thank you
Thanks, M Barnes. Was actually looking for a call on these.
Hello all, this is my first post as I'm new to the group and assisting my family on their leases in Hughes, Seminole, and Pittsburg.
We also received a request to lease (shut-in) S4-5N-10E, lots 3 & 4, through Silver Creek's landman. The option terms are:
1) $100/nma, 3/16ths, 3, 2 ext
2) $25/nma, 1/5th, 3, 2 ext
What I'm taking away from the conversation on the board is that we should negotiate a larger nma bid given the range of $200-$500 some folks are getting and I understand the county is diverse. Additionally, we should build in new clauses (e.g., Depth, No Deductions) and we should not take the two-year extensions.
Is this right? This is a new well. We have about 15 other wells across OK and this would be the first time we "push back" a counter offer. Suggestions? Also, what should be the decision criteria between taking either offer?
Thanks,
Mike
Never take the two year option. Make sure you have no deductions, no enhancements, no nothing. Limit your shut in time to two years cumulative, not consecutive, have a tight depth clause, commencement of drilling clause, no top lease clause, do not warrant title and a few others. Generally, I take the higher royalty and the lower bonus.
The bonus is only paid once, but if you have multiple wells, then a higher royalty nearly always makes more money in the long run. Usually does as well with a single well, although it may take a while. Depends upon the area.
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Claudia, 34-9N-11E. I see that Calyx and Bravo Arkoma both have multiunit horizontals north and south of this section, so I think we are going to sit on it for a bit....offer is from a land company, not an operator.
May I ask where you found this map?