Rocky…your royalty is about 3 miles from my house. The oil field has been hot up around here for the last 2 years. Since the drop in oil prices it has slowed down some but there is still a lot of activity around here. I’d say that is a very low-ball price. I’d say you would have a lot of buyers interested in it for that price. Wouldn’t sell if it were me but you are not me…last time I checked! lol Best Wishes!
Rick, I’ve tried to read up on a multi-section well but I’m having no luck in finding out what it means. Could you explain it to me in layman’s terms. Thanks
Rick , so is the well in question in my section?
No sir. It is next door to your property. You will not share in the production. If is a good well, it increases the chance of them drilling in your section.
I am looking for some advise selling mineral rights. A man from Eco Energy called yesterday offering $5375.00 per acre. I have around 20 acres in section 25- N4 W4. Is there any activity in that area and would that price be the going rate? Any thoughts on the subject would be greatly appreciated. Thanks Rocky
Rocky,
Continental is drilling a multi-section well 1 mile West of your property. It was spud the end of August. I don’t show a rig on it. I’d say someone liked the drilling log reports.
Section 25, 4N-4W
Oh, I see. Now I get it when you said someone must have liked the report on that well to have called me and made an offer on my 20 . You have been a great help. I appreciate your time and knowledge. Again, thank you.
Gray are you talking about 9-3n-4w? Do you have book and page # of your lease?
In my case Marathon has sent letters that they are going to drill to over 13,000 foot and the 1955 lease with Merit is limited to 9145 foot so I would guess we will have some rights for a new lease at this increased deapth
Does anyone know where that leaves me in regard to a lease. Of course none of this matters if Marathon does not drill
How can I find out the history of a section? The property was in my wife’s grandmother’s name years ago.
Section 17, Township 1 North, Range 1 East.
Any help in tracking how she obtained she got the property and when.
We think it was back in the 20’s/30’s.
Gray Bailey, (or others in the Garvin County Group): Your statement “Merit would handle my royalty interests” concerns me. I too receive royalty checks from Merit and now we are are watching and waiting as a drilling is happening in section 10 and going into section 3. We own minerals in both sections. When Merit “handles the royalties” - does that mean the mineral owner loses out? Our checks have dwindled due to price as well as decrease in production…a boost from new wells would be wonderful but now I’m skeptical.
Lease was dated December 14 1955
Stephen Sabol: you can get a copy of the Tract Index from the county clerk. It will have all the transactions for the section. I have only done this once: I just called the county clerk’s office and requested it. I paid ~$1/page for the photocopy and a small fee to mail it to me. She also emailed it. My transaction was for Hughes County. It showed the history all the way back to the patent granting to the Indian tribe.
I received many letters and documents from Marathon Oil as did many of my relatives. I called Marathon and told them that I received checks from Merit oil and I was told that I did not need to do anything as Merit would handle my royalty interests. In reading over the materials that Marathon’s attorney sent to me it was stated that they would be drilling to an approximate vertical depth of 13,625 foot and an approximate total measured depth of 18, 646 foot. Last week while looking through some old papers I found the attached Royalty Lease. Please see attached file “Royalty Lease001.pdf” which states in part:
I got a call also from Echo. I haven’t called back but my interest is in 27-2N-3W. Any action in that area?
In reading over the materials that Marathon sent it was stated that they would be drilling to an approximate vertical depth of 13,625 foot and an approximate total measured depth of 18, 646 foot. Last week while looking through some old papers I found the Royalty Lease which states in part: LEASE NUMBER 341213 of NE/4 NE/4 Section 9-3W-4W is limited to a depth of 9145 feet.
Gray,
It actually puts you in a better position. The deeper rights are not held by the old lease so they need to lease you again which should get you a much higher royalty rate over 1955, (which was probably an 1/8th)
I have mineral rights for Sec 30, 1N, 1 W. have you seen anything started on it.