Garvin County, OK - Oil & Gas Discussion archives

Thomas, if that is a lease offer it depends on the royalty like 1/8, 3/16 etc. Often people will agree to a smaller bonus with higher royalty such as 1/5 or 1/4.

Has anyone heard from Rimrock on MCCAA 1-30-19H? It has now been 6 months since they started selling oil.

Thomas,

If you have an unsolicited offer, it is probably low to actual value. How close it is depends upon the number of reservoirs, the geology and many other factors. As Michael said, the actual offer may go up or down depending upon your royalty amount. Also, remember that you may have capital gains taxes on any sale, depreciation clawback, state taxes and maybe city, depending upon where you live.

Good day folks, I have been offered 4,000.00 per net mineral acre on 5 of my tracts. Not quite sure how to do the math on this. Not even sure this is a good deal. Any thoughts ?

Don,

I believe WI owners have received their division orders. The rest should get them soon.

Thanks folks, my question was for a sale. Thanks for all the advice. Starting to get the lease offers, but they feel like robo calls. The last time i sent one in , it came back HBP ( held by production ). Thought I wold explore. Thanks again

Thomas-values vary significantly from place to place. It will be difficult for anyone to respond intelligently without Section, Township and Ranges.

Is the offer to buy, or lease?

Darla, I’m in need of advice and guidance with oil & gas mineral royalty leases. Is this something you do or can you recommend someone? Do I need a land man or an attorney? Thank you, Laura

Laura

I will message you

n neal

No, the OCC application was for the configuration of drilling and spacing units.

They are required to go through the Oklahoma Corporation Commission to get permission to drill, so you will get notices by mail of any activity. At the moment, most of the activity in the township is in the northern sections by Rim Rock and Pay Dirt

n neal,

If you are interested in knowing what is going on, go to:

http://imaging.occeweb.com/imaging/OAP.aspx

Under Case # search for: 201406160

Look at the first Exhibit listed to see a plat of the area. The OCC is a good place to find out where operators are active.

They are starting to build a location for a well in section 29 4n 3w in Garvin County. The well has been drilled and tanks set in section 31 4n 3w but I don’t know if it has been fracked/completed yet.

Hello group. I own 20 acres in 23-1n-2w that I have leased to Continental Resources. My question is, how will I know if or when the would drill.

Frank. Does that mean they drilled and hit nothing? Thank you.

What is the going rate for leasing in Garvin County, T2N, R1W, Section 31?
Have been offered $200 an acre with 3/16 .

Ruth Hawkins


3 yr lease with a 2 yr option

Ruth,

Not a direct offset, but Rimrock pooled Section 36 2N 2W in July of 2017 at: $1,000 for a 1/8th royalty; $700 for a 3/16 royalty; and 500 for a 1/5 royalty. The order allowed different elections on the two different formations, so you have to add the for both formations to arrive at the total.

If the offer you received is for a 5 year lease, you might want to look around for a better offer. Do you mind sharing who made the offer?

Did Continental ever drill the well in 27 & 28 of 1N-1W?

I’m new to the group but have mineral rights in Section 3, 4N, 1E in Garvin County and have recently been approached about leasing my interests. Would appreciate any information on activity in the area, lease bonus rates, etc. Also is there a standard oil and gas lease that most use? Thanks!