And even then Rick…one must be careful it doesn’t include purchase of land in their offer to purchase mineral rights. The offer I told you about, after reading into further, they wanted the land as well. Their terminology can really confuse a person.
I am truly grateful for the support and knowledge provided in this forum. I’ve learned some interesting but much needed information. Thank you to Rick Howell and M. Barnes especially.
Charles it was a top- lease you need to go back to lease of 2005 ,book 1723 page 834 and look at it . Signed in Dec 2005 with 2 year option.
First of all, I want to say thanks to Rhonda Salinas, M Barnes, Ron McKenzie, Linda Rigtracker for your replies… and give a special shout-out to Rick Howell for helping me. It’s truly been an education the last 2-3 years.
The last lease I did with Triad was drawn up on May 18, 2009 and the date I signed it in front of a notary was May 26, 2009. The lease was for a period of 3 years and it included a 2 year extension.
So, my lease either ended on May 18th - yesterday - or, it ends next Monday on the 26th?
Thanks again for this forum
Charles, what is your location and what name was it under and I can look it up.
Ron, I don’t know what “book” you are talking about but I’ll throw some humor on the situation. If you can look back that far, you should be able to find the 3 year lease I signed with Triad in May 2009 that gave them a 2 year option. Do you have the 2009 book? LOL
Plus, nothing was signed with them in Dec 2005. They first contacted me in Dec 2004 when I used to live in Katy, Texas. So, your numbers/math doesn’t quite add up as I’m sipping my first cup of coffee this morning.
Charles, I think you are smart to hang on for a while. They are offering $1500 3/16 to lease in 22. However, 22 is much thicker and there is a big fault running through the area, so which side you are on may make a big difference in price. North side of the fault is getting much lower offers.
I see where you signed a lease in 2009. Dated 5/18/2009, Recorded 8/17/2009, expired 5/18/2012. Did you sign an extension on that one? If it was for two years, then maybe it expires 5/18/2014. If you did not sign the extension and get paid (which I do not see filed, then it expired in 2012).
That is the book and page # it is recorded in at the Court house. It was signed Dec 30 ,2004 and recorded Feb 2005 .
Dear M Barnes,
Triad just offered me $1,000 an acre to buy me out - purchase my mineral rights.
This is for the land description of:
W/2, SE/4, Section 9, T1N, R2W
I might sell but not for that offer.
p.s. the lease is in my name
Ron,
I kind of figured it was a “typo” because I knew that I didn’t sign anything with Triad back in Dec 2005…even if it was only my first cup of coffee this morning.
Have a great day! 
Charles
Charles,
Energynet.com is an auction house instead of a place to post ads. My experience with it comes from the buyer side where I have seen some very high prices paid on those areas where I had an interest in purchasing. Much more than I was willing to bid.
In my opinion, you don’t want to lease if think you might sell. Investment buyers would rather have unleased property to allow them to participate in the wells. Timing on a sale with expected drilling will also increase the value. Just as timing can have a great impact on the lease bonus amount and RI Energynet is where several banks (including the FDIC) and management companies liquidate assets.
Charles, The Washita Valley Fault System runs through that township (and others) and it is huge. There are several faults running NW to SE. Where each section sits with respect to the faults will determine its value. 22-1N-2W is to the south of you. Most of the older production close to 9 has been in sections 7,8, 16, 17, 18, 19, 20 and 21 on the south side of one of the faults. Another field sits in 1,2,3, 11, 12 associated with another fault and reservoir.
I have not dealt with energy.net, but maybe someone else has. Good luck.
It looks like the domain name energy.net now forwards to energynet.com. So they are one and the same.
Nothing has changed in since my email to you, but I was talking about marketing a sale, not marketing a lease. If you want to lease at a high rate, your best bet is to sit back wait for applications to be filed and let them come to you. The key part is waiting for applications to be filed.
Most people are not willing to wait and feel it needs to be leased. The down side of waiting is that it may not be drilled in the term of the lease and you will not get anything. Your experience of the 3 year lease and the 2 year extension is a classic example. You would not have been paid any money if you held waiting for applications to be filed.
I do a few things to hedge our investment/return. Some areas I lease, some I hold open, some I lease part of the acreage reserving acreage to lease or participate in later.
We have about 80-85 acres of leased property expiring in the next 13 months. I doubt we see any drilling started by the time they expire. Had chosen to hold, we would have lost out on about $75K of income.
This business is far more complicated than what it looks to 95% of the people that view this forum realize. There is more gambling involved when making decisions that attempt to maximize the income. And that does not even begin to address the immediate vs long term income issues.
M Barnes,
Thank you very much for the reply. Yes, they did have a 2-yr extension on that 3-yr lease that I signed in 2009. They did pay me. So, the way I look at it I am done with them.
I’ve seen the map of the area and studied it quite extensively. Back in 2009, I got a really poor map of the area. Now, I have one that is about 3ft x 4ft given to me by a friend of one of my relatives down in Texas.
As for the “big fault”. Are you telling me that it runs through Section 22 - or, just in that area? Secondly, if the fault is in Section 22 wouldn’t that be North of me?
Rick has suggested to me that now with my lease having expired with Triad that should place it on “energy.net”. Do any of you have experience with this?
If so, is it possible to place an ad with the land description, etc…and say that I am willing to lease the acreage for a certain amount, certain percentages, etc…
Plus, say that I am willing to sell for a certain amount?
Thanks again for your help!
Send me some BBQ from Punkin’s in Pauls Valley or from The Pig Shop…! LOL…because there aren’t any good BBQ places up in this god-forsaken frozen tundra called Michigan. 
M Barnes,
My coffee hadn’t kicked in well enough yet…LOL
Now I see that I am north of Section 22. Duly noted.
I think I should read and refrain from replying until after the second cup of coffee.
Thanks,
Charles
Rick,
I do understand what you (and others) have told me previously about not having the property leased if I am trying to sell it. I get that.
However, I would be interested in leasing it - just not at what Triad was offering me…just like I’m not interested in selling it to Triad for $1,000 an acre.
Maybe I misread your e-mail to me from Monday morning? I could have sworn that you told me "Marketing it through energynet.com should net the best return for you
however. "
So, what has changed between then and now? Why did you say one thing on Monday morning and something completely different around 48 hours later?
Do I need more coffee?
Or, is “energy.net” something completely different from “energynet.com”?
I am confused.
Thanks for the reply.
I feel like I’m auditing a class at Harvard! LOL
I created a profile yesterday at energy.net and will be figuring out tomorrow what I need to do in order to place it for sale.
A bird in the hand is worth two in the bush.
My wife and I are fixing to go play golf, chase the balls around, and see parts of the course that most people never get to experience - woods, lakes, backyards, etc…
Anyway, when I get back tomorrow and get over my “grumpy old man aches & pains”…I’ll figure out how to place the ad and see if there is a way that I can make sure that there is a minimum amount that I can accept if it is like an auction.
To be truthfully honest, I’d rather sell it to someone else for what Triad offered me than to sell it to them for that same amount. I’m not at that point yet…LOL
Whoever buys it will have to keep that mind - I’m not accepting the first offer. I’m not wired that way - I’m an old “car guy”.
p.s. Rick, it looks like you and I have the same hair stylist!
Charles. I just sent you a friend request and would like to talk to you about your land and if you have any other interests in Michigan
Charles…if it’s royalty you are talking of selling I’m sure there are plenty of people on here that would be interested if it’s in the SCOOP area. You shouldn’t have any trouble getting top dollar if that’s the case and you have a clear title.
Here’s something they were discussing in a Continental meeting this morning. They suggested that everyone should call your congressman and get them to vote “yes” on it or they (CR) would beginning pulling rigs out of OK and sending them to the Bakken. I know nothing about this kind of stuff but told my them I’d pass it on.
The Oklahoma House of Representative will vote tomorrow on legislation that will impact all Oklahoma oil and gas producers who actively explore for and produce oil and natural gas in the Sooner State.
The state’s current tax provision for new wells provides for a 1 percent gross production tax rate for the first 48 months of production for horizontal wells and must be renewed by the legislature every three years. With an expiration date of 2015 and calls from some policymakers and civic leaders to do away with the reduced rate altogether, industry efforts have been made to ensure the state continues to encourage the investment in continued exploration for and production of the state’s oil and natural gas resources.
House Bill 2562 would increase the rate to 2 percent for 36 months. The new provision would eliminate the three-year sunset and also apply to all new wells, horizontal and vertical. The agreement means all Oklahoma oil and natural gas producers, large and small, would have a permanent tax structure for any new well.
The agreement has seen broad approval from the industry as well as positive comments from the Governor’s office and the state Senate. In the House, division within the Republican majority has put approval of the legislative proposal in jeopardy. We need your help today to encourage elected officials to support this proposal.
Please call and email your state Representative today and tell them to support the oil and natural gas industry by voting YES House Bill 2562.
Charles…I’m with you on the hitting that little ball around. Our whole family are golfers and I hope after I get my back surgery that I’ll be able to knock it around again myself. Some of those uncharted areas were some we have explored from time to time too! lol
Charles,
With mineral rights it may be more of a bird in hand is worth 10 in the bush. But it may be a very long time to get them out of that bush.
Documentation is the key to a successful sale. Complete title trail, but I don’t think you have marketable title which will impact the price. I understand energynet has pretty good tech support for the sellers. It is important to them as their fee is based on a percentage of the selling price. Yes you can set a reserve, but I believe the reserve comes with a fee.
The difference between a car and mineral right is you can see the car sitting right there when you buy it. Mineral rights do not have a clear title showing what you own. The buyer has to do research to figure out what you have. That costs time and/or money. That is why documentation of the title chain is so important. The more you can present, the more that will be willing to bid. Clearing non-marketable title can be expensive and a smart buyer will make the adjustments for that.
It is not usually that difficult to lease with title issues, but often is hard to get paid with issues. Not having an Oklahoma probate is the most common issue. An affidavit of heirship is often used, but the statute only call for it to make title marketable is with a sale and after 10 years. In practice, there is some differences of interpretation on that aspect. However, I have sat in multiple classes for landmen and title analysts where the attorneys making presentations reflect the above. But just because their title opinion show that does not always mean the operators will not follow that opinion/recommendation.
I’m in need of a haircut in my profile picture, it is a bit shaggy!