Ferrell Oil Company


#1

Does anyone know anything about Ferrell? They made an offer to purchase minerals in sec10, 14N, 26 W then have started to delay. Nor sure about them and any information would be helpful. Thanks


#2

We also received an offer from Ferrell Section 23,12 North, 26 West. Letter contained a warning about ‘fly-by-night’ companies floating shady contracts to purchase mineral rights, which in fact are only ‘options’ to purchase, thereby tying up your mineral rights while these companies shop for a quick profit. Ferrell says they are well-funded and never indulge in shady practices - but, who knows! Any guidance appreciated. The STACK and SCOOP activity is not in Roger Mills that we can tell.


#3

It has been almost 2 weeks since offer was made and accepted. It looks like they are not who they say they are.


#4

I know nothing about them personally. But just in Roger mills they have purchased mineral rights in over 50 different transactions over the last 15 years.

It is pretty easy to look up transaction on https://okcountyrecords.com . Using the index is free and it is not expensive to look at individual records.


#5

Rick,

Thanks for you info. I hope I am wrong and they are legit, but so far they have not operated in good faith.

Charles


#6

I’ve researched the company enough to confirm they are legitimate, but there’s lots of activity by Ferrell and others buying and selling mineral rights in the SCOOP and STACK areas. Perhaps that’s the reason for delay? Hope all works out well for you.


#7

Roger Mills is generally considered the Granite Wash play. It is different than the SCOOP and STACK which are farther east.
12N 26W has quite a bit of horizontal drilling in the area. I suspect Farrell is trying to pick up acreage pending new drilling. The Lavena well is currently holding that section. If it were me, I would hold onto the acreage and hope for new drilling.


#8

Thank you


#9

I believe a new well has just been completed in 3-14n-26w, the section to your north–although I could find no confirmation of that on the OCC applications web site. I have trouble opening the cases to see what is inside. I also am told a well has been staked on 25-15n-26w, which is 2 miles north and 2 miles east of you, and I’m told 4 Point plans to drill in 32-15n-26w, which is about a mile north and two miles west of you. Given the otherwise low level of new drilling activity in this part of Roger Mills county, I would be inclined to hang on to my minerals. Mineral buying companies do not randomly offer to buy minerals–they’ve done their research.


#10

Thank you for the information. It is appreciated.


#11

Thanks so much to those of you more knowledgeable about activity in Roger Mills. Greatly appreciated, as I’m new to the forum.


#12

FYI I have rescinded by acceptance. After a month of no paper work from FerrellOil I have decided that something is not right. Everyone has to decide for themselves.


#13

Charles,

That area is so hot right now. I am surprised they dropped the ball. They could have been ‘flippers’ that were waiting for investor money to pay for the minerals and it failed. I have seen that a time or two…

Courtney


#14

Courtney,

Thanks. I have emailed and snail mailed letter to rescind my acceptance, so I am not obligated any longer. If you have someone that wants to buy I have 2.5 minerals acres. I have been given a few low-ball offers which I turned down.

Charlie