Hello,
I recently inherited a small amount of mineral rights in Custer County and I’m curious if they are planning any drilling in the area any time soon. I’ve received offers to both lease and sell the rights and I just don’t know what I should do.
Section 24-15N-17W
Any insight would be greatly appreciated!
Thank you!
A forum like this cannot tell you what to do. Just my opinion. If you are getting multiple offers to buy, then multiple someones know something and they plan to make a profit off of buying from you. The interest from multiple parties is an indication of upcoming plans to drill (but no guarantee). If it were me, I would either lease or wait for forced pooling, but I would not sell unless I had a desperate need to do so. I would rather have royalty income. If you so decide to lease it is wise to get a good oil and gas attorney to review the draft lease. Most of the drafts are not in the mineral owner’s favor and need some significant edits.
If you are new to oil and gas, the Mineral Help tab above has some useful hints.
Yes there is a lot of leasing in Custer Co. OK and all that area in western OK. If you look at the OCC Docket there are many requests by O&G companies for spacing & drilling permits.
There are many leases happening now in that Section, Township & Range. The Custer Co. Clerk website has that information and updates it daily. You can search using the land description and it brings up everything connected to that property.
Thank you! I’ll definitely take a look at the county website.