Garvin County, OK - Oil & Gas Discussion archives

Michael, You will be paid based on the old lease. I am not sure if Marathon pays all their mineral owners or if their purchaser does. Does anyone know?

Michael,

The attorney's title opinion will dictate where Marathon will provide ownership information to divide up the royalties on the well. Usually by the time the they start drilling an attorney is working on it. About 3-5 months into the production the attorney will provide the title opinion to the operator. If you have everything filed of record in the county in which they are located, they should have you covered on the new Marathon well. Marathon will pay you (or their purchaser). Generally Merit won't be in control of your payments on that well.

There are some exceptions, such as if Merit takes a working interest in the well bore and markets their own gas. There are several statues that cover this. Mostly we see the "working intertest owner" paying the Operator of the well bore the "royalty owner" proceeds and the operator distributes the proceeds.

It can get complicated, but if you have filed the documents with the county, notified the operator of your tract in the unit, and have notified Marathon, you should be good to go.

You still want to continue to observe the progress of the well and start asking questions of the operator 4-5 months after the well has been completed and is producing.

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 ?

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-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?

Don,

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

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.

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

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

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.

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

Thanks for the info.

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.

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

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.

n neal

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

Thanks for the info frank.

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