There have been wells drilled in 33-2N-3W. Records show a dry hole in 1915 @ 2000’ and 1977 @ 8000’. As for recent wells in the area the Williams 1H-19 was drilled in section 19 early last year. The Floyd 1H-3X should be completed but has not been reported yet. The Floyd 1-8 (verticle) should be in progress. I don’t see any indication of activity in the south ½ of the township. I would say they know a bit about future activity or they would not be asking to buy.
A better indication is the leasing going on. It still is happening in your section. It could be years if anything happens or it might not happen at all.
Here are some numbers from the pooling orders in the township.
3-2N-3W 3/16 - $1300 1/5 - $1200
6-2N-3W 3/16 - $1000 1/5 - $925 1/4
7-2N-3W in progress
8-2N-3W 3/16 - $250 1/5 - $100 1/4
9-2N-3W 3/16 - $1500 1/5 - $1300
10-2N-3W 3/16 - $1300 1/5 - $1200
18-2N-3W 1/5 - $925.00 1/4
20-2N-3W 1/5 - $925.00 1/4
4-1N-3W Feb 2011 1 mile south of 33-2N-3W 3/16 - $150 1/5 - $100 1/4
3-2N-3W 3/16 - $1300 1/5 - $1200
6-2N-3W 3/16 - $1000 1/5 - $925 1/4
7-2N-3W in progress
8-2N-3W 3/16 - $250 1/5 - $100 1/4
9-2N-3W 3/16 - $1500 1/5 - $1300
10-2N-3W 3/16 - $1300 1/5 - $1200
18-2N-3W 1/5 - $925.00 1/4
20-2N-3W 1/5 - $925.00 1/4
4-1N-3W Feb 2011 1 mile south of 33-2N-3W 3/16 - $150 1/5 - $100 1/4
Rick, thanks for the instructions re: OCC well records. But how do we find out if there have even been permits filed on our land? Like what Clint is always posting?
Rick/Julie – That is correct that we only have a mineral interest, not surface, in 31 2N-3W.
Picking up on an older comment I made, Triad is force pooling us in 16-3N-4W for a shallower vertical well (above Woodford) and Newfield is trying to lease that same parcel. Just realized the overlap now so it will make for some fun phone calls in the morning. My first experience with two operators going after the same section at the same time, fun!
Darla, thank you for the feedback earlier in the thread about comps re: sale (or lease). You said connecting sections would be comps when negotiating. How about 2 sections away? Or 3? Is that too far away?
Julie, You used a very good term “negotiating”. You can throw in any comps you want when negotiating a sale, as it is up to who you are negotiating with to determine what the value is to them. However, a lease is a different horse. When I have testified at poolings at the OCC we only look at values in connecting units surrounding the unit being pooled. If it is a 640 spacing in one section you look at leases in all the sections surrounding that one. If it is a 40 acre spacing you look at the 40 acre tracts surrounding the one being pooled. They are the only ones that carry weight if you wanted to protest a pooling at the OCC. Therefore, I tend to only look at known sales in the connecting sections when putting a value on minerals.
We can all use a little dose of faith and self esteem once in a while. We just need to remember that “God don’t make no junk” (that’s from the Keck translation but it’s there)!
Thanks Michael. We formed an LLC for the mineral rights so we could keep them in the family for future generations (I hope). We went thru 2 probates and the attorneys were the winners. Hopefully, I have fixed that problem for my kids. And I, too, enjoyed Linda’s comment to Gregory. Very true.
Some counties are putting doc stamps on the mineral deeds. In Garvin County it is still optional, but I expect it to become mandatory at some point in the future.
The Floyd 1H-3X is being readied to frack. (It’s a Newfield). I didn’t know about the vertical Floyd in Sec. 8. Wish they wouldn’t name two of them the same.
Julie, the Triad pooling has not been completed so I don’t know where that will end up but their offer was $300/$250/$100/$0 (1/8, 3/16, 1/5, 1/4) for a lease only down to the Deese, so not including the Woodford, in 160 acre spacing.
The initial offer from Newfield’s rep was $700 3/16.
In both cases I’m just relaying their initial offers; we’re playing a little catch up and have not begun to negotiate terms. I’ll let you all know where it ends up.
Know lots of Elmores and Yarbroughs. Went to school with Gary and Annette Yarbrough. We live in 4N,4W which might be the same as the Purdy area but isn’t the Springer area down north of Ardmore? I can’t even remember which section we live in at the moment but there is work being done all over around here. I don’t know of Merit doing very much Horizonal stuff around here but I do know one of the main honchoes so if I see him I’ll ask about that.
Anybody know if anything new going on in 4N 4W sections 19,33 and 35? Mostly in the Springer Purdy area. Merit Energy holds the wells I have there now. I was hoping there might be some interest in some horizontal there. Linda, I have several kinfolk in the Lindsay area. Elmore, and Yarbrough. Thanks, Tom
Thank you Rick and Chris for the info on 2N-3W. This helps a lot! Also to Vicki who shared her lease info, too. And Darla, good clarification on the art of negotiation, thanks.
Thanks Linda for the info. By the way. Gary Yarbrough is my first cousin. His mother and my mother were sisters. Their main name is Elmore. I hope they do more in my areas. I could use the moolah. Thanks, Tom
Tom, it looks like 4/4 is in the play but no new activity yet. Sheridan is increasing density in sec. 6 and Eagle Rock has pooled sec. 2. No recent leasing, Bearcat filed a few leases last year but nothing new.
I always love reading Clint’s posts in the discussion forum (above) re: permits filed. Today he posted a “Permit to Recomplete” in Garvin Sec. 13 3N-2W (Ranken). This is very close to where I have mineral rights in Sec. 10, where nothing has ever happened. My question is this: What is a Permit to Recomplete? What does this mean?
Chris, thanks for sharing. FYI, or why do you know, there are multiple entries for 4N, 4W for sections 22, 25 and 29. Also I didn’t see section 19, 4N, 4W Ball for CLR. Thanks again.