McDermott 1-29 is in operation, are there any other oil wells on this section Marsha Bowman
Look up the wells on the OCC well record site. You also need to look up from Section 32 as the surface location for some horizontal wells are in that section. Use a leading zero. 2904N04W or 3204N04W. Test McDermott is there You have the Campolina 1-20-20USH You have the Clydesdale wells
The production shows up on the Gross Production site. https://otcportal.tax.ok.gov/gpx/gp_displayPublicPUNListSearchDownload.php Use both section 29 and section 20
Hello: This week, we got a increase of $750.00/per acre, for the purchase of our Mineral Rights i Section 17 in Garvin County. Anyone know what is happening with that section? Being from Illinois, we are out of the know.
stevers
Lots of section 17’s. Please provide the full legal description if you want assistance with your inquiry.
Todd M. Baker
Hello Todd:
The description is: Section 17, Township 1 North, Range 1 East. The offer is almost $5,000 per acre… The Durham Trust" has 25% of the 60 acres Mineral Rights The land was owned by my wife’s Grandmother since the 20’s. The 60 acres went up for sale in 1984, and was purchased by the tenant farmer, and we retained the 25%. Thanks for any help Take Care stevers - one of two trustee’s
I moved your area to a new topic since it is miles and miles away from 4N-4W.
Steve: Tough to follow because your reply is under a topic 29-4N-4W. BUT, I will reply to you here.
Continental has been buying some leases in this section and their mineral arm, Mineral Resources is buying minerals. That tells me Continental is going to be drilling some wells and they think enough of it that they want to buy minerals. Continental pooled Sections 16 & 21 back in 2014, but never drilled anything. This is still prospective as there haven’t been any new wells drilled in this section or any of the 8 offset sections. I am a buyer of minerals and a seller of minerals. In my opinion $5000 per acre is too cheap for this area, although it is still speculative. There are many faults in the area. I own in Section 27-1N-1E and am getting lease offers and purchase offers.
Hope this helps.
Todd M Baker
I also have mineral rights in section 27 Marsha Bowman
Please be aware that one company I was previously contracted with was trying to identify out of state mineral owners as their first option. As far as fair market value for minerals subject to existing vertical wells (HBP) it’s difficult to put a price. I’m presuming that your minerals are subject to an existing 1/8th or 3/16th royalty interest, the best estimate would be to find horizontal wells drilled nearest to your subject property obtain production information from OTC website and then simply calculate the wells revenue at spot market WTI oil prices. i/e if you own 5 nma in what we are presuming will be a 640 acre unit, simply divide 5 by 640 and then multiply times your royalty interest. (1/8th being 0.125 or 3/16th being 0.1875) to get your NRI (Revenue Interest) then simply multiply the production of bbls of oil by the spot price of WTI crude. This will provide you with your estimated gross royalty payments monthly/annually and have an idea of the life of said well along with production decline. Divide this total by your net acres and you will have a estimate based several unknowns about total payments over the life of the well. Remember, those contacting to purchase your minerals are looking to get a return on their investment wether they’re looking to get a ROI of 100%, 200% or 300%. Please educate yourself, this could cost you tens or hundreds of thousands of dollars.