Patricia, Continental’s Colbert 1-32H was spud (started) on 9-21-12. It’s most likely completed by now but nothing posted yet on the OCC. Maybe someone has some word of mouth on it.
Patricia…I have kind of lost touch with the area down through there because the road is so terribly rough and dirty/muddy that I didn’t want to make the drive. I do believe there has been a well drilled on Sec. 32 3n,4w lately. That would be beside the Mashburn in Sec. 33 so maybe Richard Wilson might shine a little light on it. Are you out there Richard? Can you help Patricia out???
I am and would but Hutch covered it.
HI - I have another question. Please excuse my ignorance, but I have no idea about any of this. These shares were my mom’s and have been in the family for years. There was occasional leasing in the past, but I have never seen this much interest before. The location is Sec7, 03N 04 W. Is it Oil that they are looking to drill for? Or is it natural gas? Is this section part of a shale? Why so much interest now and what is the potential? As I said, I know absolutely nothing so I appreciate your information, and I am so glad to have found this group. Thank you!
Sandra, forget the question about leasing, I see your lease was just recorded last week.
They started fracking 21-3n-4w . Chesapeake sold some interest in 3n-4w on Book 2004 Page 770
Linda - thank you so much for this update. This explains a lot! I will look at those links. We did not sign a lease for nearly that much, but it is good to know what the possibilities are. I don’t live in Oklahoma, but still have family there. I may just have to take a trip out and see all this first hand! Plus it would be nice to see the old farm that my mom used to talk about. I have only been to it once.
Thank you again, much appreciated!
Oh yeah, nice pic!
OOPS…Sandra, I see you say you have already leased. Who did you lease to? We leased to Energy Leasing LLC for Newfield and to Jackfork Land LLC for Continental. We thought that Continental might have slighted us a bit on the amount of royalty they said we had but we just hired Darla (that’s on this forum) as our landman to research and guess what, it looks like Continental knew what they were doing and we thought we had more than what we actually had. We still feel VERY Blessed!!!
Thank you for the information Michael. My sisters and I each signed a lease - we did have a lawyer review first and got some good advice. I don’t know what the best lease options are but I think it was a decent deal. I don’t know what is appropriate to share here, but it was an offer that was consistent with other offers, just a little better.
Anyway, thank you again. This has been really helpful!
Read in the Oklahoman this AM intent to drill the Parks 1H-31 in sec 6 2N 3W. Does anyone know what the % share on that will be? Don’t have mineral rights in those sections, but it’s close. Also, will that be sec 31 3N 3W?
Vicki, 48% for 6-02N/03W 52% for 31-3N/3W
Mr Hutchinson I don’t know you, but love your picture and your Vietnamese princess. We have a daughter adopted from China.
Sandra, it is part of the Woodford shale and is one of the hottest areas in Oklahoma. There are already several very sucessful wells close by which are producing both oil and gas. Are you currently leased? If not you will probably be soon. I will look up your section and see how it looks.
Sandra, Marathon Oil plans to drill 7-3N/4W. It will probably be a few months before they get their paperwork processed.
Sandra…You are in the middle of what Continental calls the Scoop and Newfield has called the “Sweet Spot” of the Cana Woodford Shale. Continental has said in their investors day meeting that they have known for years that product (oil and wet gas/condensate) was down there but it wasn’t feasible to go after it until the price of it on the market got close to $100. a bbl. They are now using the 3 D Seismagraphing to see what’s down there. One Newfield man described it as big as the Grand Canyon! Continental said it would rival the Bakken Shale in North Dakota!
Now this area down here in the South Cana has become a hot spot for drilling. We also have had our minerals for years (about 40 plus) and only leased them out a few times and them never drilling a good well. We were here and in the well service business through two or three oil field booms and still no one seemed to be interested in our royalty. We are just a few miles south of you in Stephens Co. 2n,4w. We have been offered as much as $11,000 an acre for our Sec. 16 minerals as it will soon have six horizonal wells completed on it. All of them are going to the Woodford Shale. Yes…it’s very exciting for the mineral owners and land owners that get to sell them pipeline easement and drilling damages. No so exciting to the people who live in the country side around and have had their peace and quite interupted and their roads ruined. I feel for them also as I’ve see it first hand. Hopefully those high taxes the oil companies pay will help to build them back in the future. Here’s the infomation about the SCOOP and “Sweet Spot”
http://media.corporate-ir.net/media_files/irol/19/197380/CLR_Sunday…
http://seekingalpha.com/article/754371-newfield-south-cana-wells-sh…
http://www.reuters.com/article/2012/11/28/column-kemp-shale-oklahom…
Sorry to the older members that are tired of these websites being posted. I myself never get tired of reading them!
Hutch-You’re the best
Sandra…That $11,000 was to purchase our royalty. Sorry if I confused you. We took only $600. an acre and 3/16 to lease in the three sections we have a small piece in but that was before we knew anythng that was going on. Now some are being offered as much as 1/5 or 1/4 with small or no Bonus and if they are force pooled they are getting up to about $1800. an acre and 3/16 interest to lease. I wish we had of had the option of taking 1/4 as it turned out to be such a good spot. Maybe you will get a better offer to lease than we did. Best Wishes!
Thanks Vicki. Every guy looks good surrounded by beautiful women. The little one in front is our “Vietnamese Princess”
Hi Linda
Thanks for the clarification on the leasing. We leased to JP Drilling - about a $1600 signing bonus and 1/4 royalties. I hope it was a good deal. We did have a lawyer there look at it, and he did make a few suggestions on changes in the contract, which JP agreed to. Thank you again.