Michael: I am currently getting offers to buy us out in 1N-1W for 1650 an ac. What is getting hot about Garvin all of a sudden?
thanks michael, they are really trying to get it for little or nothing. I just joined you guys âin the scoopâ. Itâs not for sale at all. I thought they were too anxious!
Mr. Shubin, at the top it suggests you share your experience regarding lease bonus, royalty rates. If you came out and put a price on it I think it would qualify as content and not just scouting for unsigned mineral owners. People could contact you then.
The Oil Co.'s goal is to control what is paid for leases. It makes an offer, gets as many leases as it can, then pools the rest and uses the price they paid the others to set the price for the ones who hold out. Another trick they are using is to ask for a year in the pooling instead of six months. This keeps the holdouts from asking for more if they get a great well close to them because they were forced to make a choice by the pooling instead of waiting to see what happens. The normal pooling requires a working interest owner to pay their share of the drilling cost within 25 days of Pooling Order, now the Co. has up to a year to start the well, takes a few months to complete, and six months to start paying. All one year Pooling Orders should have payment with notice of spud. I saw a 6 month Pooling Order that expired and the Co. was required to pay another bonus to the owners who elected under the first pooling when they reapplied. Asking for a year is a good deal for them.
They went $5,500 across the County line in 1-3N-5W
3/16
Same bunch offered us $5500 on 29 2N,4W in Stephens a couple of days ago.
3/16
Ferrelloil offered $5000 per acre purchase of royalty in Section 28 Township 3N Range 4W.
Cactus Rig 134 is setting on southwest corner of Section 33, Township 3N, Range 4W about maybe 1/10th of a mile west of the Mashburn well that was drilled down into Section 4, Township 2N, Range 4W. I drove what is called the 18 mile road north off Hwy. 29 toward the Garvin, Stephens County line. Lot of dozer work being done all along that 3 mile stretch of road. [Pipeline etc.]
Richard⌠If you were going north when you came to that rig was it on your left and up on the hill? If so that would be the rig thatâs been on Section 32, Township 3N, Range 4W for a while. They ARE building location from what I hear from the Mashburns on their Section 33 but that would have been to your right as you came up that section line road. Can you remember which side it was from you? Last I heard they had not come to an agreement for the price of the next Mashburn well across 33 but were building location anyway.
Ron, Richard,
Were those offers for leased or unleased properties? If leased, what lease terms?
Linda, The Cactus Rig that drilled Section 32 Township 3N Range 4W was Rig 108 and was located on the southwest corner of Section 32 Township 3N Range 4W a mile west of the Mashburn well drilled from Section 33 Township 3N Range 4W south into Section 4 Township 2N Range 4W. That Cactus Rig 108 is now drilling on Section 15 Township 2N Range 4W just west of the church that is west of the compressor station on Highway 29. To answer your question the Cactus Rig 134 is setting immediately to the east of where the Mile 18 road comes to a dead end when arriving at the Garvin/Stephens County section line, and is where I caught the school bus back in the late 1940s and early 50s going to Doyle School. To be precise Cactus Rig 134 sets to the west of and adjacent to within 1/10th of a mile of the Mashburn well that went south into Section 4 Township 2N Range 4W with its attendant dog houses etc.
DCP is the name of the company, ROW is right of way and FWIW is âfor what itâs worth.â
Great, then I guess that the rig that is drilling is on your Section 33 even if the landowner doesnât know it. She said they had started building the location but they had not yet agreed on a price for their wheat field. Surprise, Surprise! I told P. when we came back that night a few weeks ago that I didnât think I saw the lights on Section 32 rig but then the next time we went down I saw the top of the rig so I thought I must have been mistaken. Guess Not.
Did you know Sherry and Donnie Keck when you went to school at Doyle? Thatâs Pâs cousins. Donnie graduated in about 1967 and Sherry was a little older than he was. Both of them were good basketball players. Donnie went on to play for Southeastern in Durant. OOPS, off the subject again. Hope your well is a good one!
Well Linda, judging by Donnieâs graduation year he would be about 14 years my junior. By then I had already been all over North Africa and Europe, traveled the U.S. from coast to coast enjoying every bit of it. However, I donât want to do it again.
Whatâs âDCPâ, âROWâ and âFWIWâ?
Thanks Jason, the same to you and yours. I know you are looking forward to a prosperous New Year!
Lynden⌠Thanks, I donât text and up until now all the lingo that I knew was lol, which someone had to tell me was âlaugh out loudâ before I started using it. My cousin wrote me back after I put lol on several of my emails and said âI didnât know what you were trying to say until someone explained it to me today.â I just assumed that I was the last person on earth that didnât know what that meant. lol
Happy Thanksgiving to Everyone! Hope itâs rainy!!!
Looking through County records I saw that DCP Midstream had acquired ROW in Township 4 North, Range 4 West, Sections 7, 18, 19, 30 and 31. So that is north south on the western edge of the township next to the Grady County line. FWIW.