My wife inherited 29 NMA in Dewey County. Section 22 Township 16N Range 17W. We received a letter with an offer to purchase this specific piece, but no purchase price was listed. Is there any activity in this area? Thanks for your help!
I have an interest in a new Derby Exploration well comprising section 24 and 36 in 18N, 15W that was completed in August 2025.
This is producing from the Mississippian shale formation. Other wells in the area. Are your minerals under an active oil and gas lease or not leased currently?
Not currently leased.
I’d check to see in the recorders office for dewey county to see if there any new oil and gas leases being recorded. Many oil companies use brokers to take the leases in their name to cover which oil company is actually putting acreage together in the area. You can see who the lessee is and see if it’s the same as the party who contacted you. You can also contact the lessor and see if they will tell you what terms were given (bonus money, etc.).
In any case, unless you are desperate for money I wouldn’t see the minerals. I ‘d consider leasing (form that is favorable to the mineral owner) for 3 years no option to renew and at least a 20% royalty interest and at least $300/acre. You can also wait for forced pooling hearing when an operator decides to proceed and drill a well.
Ezekiel Exploraton has a rig onsite and drilling a multi section horizontal well called Mardis 1H. Redfork reservoir. Personally, I would not sell if a rig is actively drilling. I would want the royalties. Most offers to buy are only for the production from two-five years. I prefer getting the royalties for decades. Buyers also want the acreage for the value of the future wells, but rarely pay for it. I want that value for my family. The surface location is is section 34.