Ok, now we’re all on the same page. 60k for 2/3 acre is what I was talking about.
Jarrettg, I looked at the mineral deed in Grady County and it is actually for 7.58326567 NMA over 3 sections. $42,000 / 7.58326567 = $5,538.51/Acre
I sure hope its investors money and not your own!
Ah gotcha. Thanks for pointing that out. I should have read more closely lol
Martha, who is BCE-Mach III? I received a card from them saying I might be part of a settlement claim for them allegedly not paying correct amounts from gas wells and its constituents and have to respond. They took over the Cimerex and Cheyenne wells I have and are paying on them. Would those wells be part of the horizontals you are talking about and is that why I might be considered as part of the settlement?. Also another settlement claim card Blivens vs Continental Resources alleging they were late on payments and want their interest for the late payments etc. Anybody receive these settlement cards? I’m baffled as to why I received them and whether to do nothing or exclude myself which involves a lot of work and a deadline or automatically become part of the suit. Anybody out there get these settlement claim notices? They say I might be part of the suit and have to respond. I wasn’t sure where to post this but when I saw Jarretts post I thought I would ask because you mentioned BCE Mach. Can you direct me to the proper people or area on forum to get some answers on how to respond? thanks
I got the Blivens thing too. I’m guessing anyone who has a royalty interest in Continental wells got it. I’m not doing anything, just see how it plays out.
Me, too… generally with these suits unless you want to opt out you, just let it run its course.
In OK, I just hold onto the cards and wait for the attorneys to work out the class action suit. You do not usually need to do anything unless you do not want to be a part of the class action suit. I just received both of those as well. Sitting in my pending file.
BCE-MACH III is a subset under Mach Natural Resources. They name their areas by BCE-MACH, BCE-MACH II, BCE-MACH III. (usually split out by county when they raised funds and bought other acreage). I used to have a map of the different areas a long time ago. Has wandered off…
Here is the link to the last investor’s presentation. Watch for the next one. You can see their acquisitions over the years, so you might have been with an older operator, but the lawsuit is tagging BCE-MACH now.
I’m new to all of this and I don’t know anything about any of this. I inherited mine when my grandmother passed, as did my brothers. I’m curious to know what book it is that you are referring to. Over the last few years there have been many offers from Citation and now Continental wants to lease out my interests and I have no clue of what any of this even means or how much I own or why the checks I receive, maybe once a year, are so small. So, if I knew somewhere to look to at least start to try to understand any of this, it would be appreciated so very much. I have interests in Stephen’s county as well as some in I believe Texas. Not sure how to go about finding out all I should know. I thank you and anyone else that may know in advance.
If you are brand new, suggest that you read the Mineral Help tab above.
The checks that you receive are probably for old vertical wells and are near the end of their lives, so smaller revenue due to smaller volume and the current price environment.
Contact the Division order department of the check operators and politely ask for the paragraph of the title opinion that pertains to your acreage. You want the section, township and range and the complete description of the acreage and the net acres that they are paying you on.
Go to the probated will from your grandmother and get the descriptions from it. You may have other tracts that are open to lease. Make a spreadsheet of the tracts. Start with state, county, township, range, section, description, net acres, wells, decimals from the checks. That will get you started.
Did you go to the state treasurer’s office for unclaimed funds and see if anything is sitting there under your grandmother’s name.
If you and your brothers stick together for leasing you have more power. It would be wise to get a good oil and gas attorney to review any lease as they are not in the mineral owner’s favor and need edits and better wording. I do not hand over a signed lease without getting paid. I let a third party such as an attorney or accountant to hold the signed lease until payment is received. If I cannot get a favorable lease, then I have no problem going to a forced pooling as that has its own advantages.
Yes, the older operator for the Bryant, Easlon and Josh wells in Marshall County was Cheyenne now paid by the Mach III group? and they also took over Cimarex as BCE-Mach is paying me for the old Furry 2 and Layn Furry wells, 1-1S-4W. Sagacity, I think is the parent or part of the Mach group according to the website Sagacity.