Just found out we own mineral rights in Hughes county, Oklahoma, 7N 10E, we were pooled and have been getting lease/buy offers left and right. We have no idea what to do? We were offered $650 an acre and 3/16 royalty. Is this good? Bad? Normal? And how do we know if there's any drilling going on there? We are in Michigan and don't know anyone that has been through anything like this.
Go up to the groups section at top of page and join the Hughes County, OK group and ask your question there where people who own in that area can better answer your questions.
Your initial offer was good for that area. With commodity prices at what they are, I probably would've taken that offer and ran with it.
Hi.......well, me too! Found out I have a small mineral ownership in Hughes County, Oklahoma. I am currently in the process of choosing lease option of 3/16 royalty with Great Sky Partners in Ok. City. Allegedly there will be drilling in t he near future. I had a bad experience with a prior LANDWOMAN who "stole" our lease bonus, so now am very leery of new leases. If you choose to share info, please reply.........
Hi......new to this forum since 15 Dec. '14. I own a small area of minerals in Hughes County, Ok. I am a novice at this but let me say that I have learned of more than one option --- $$$$ amount for leasing. And the amount per NET MINERAL ACRE relates to the % (percentage) of royalty. I am in the process of leasing for a considerable amount above your quoted offer of $650.00. Ask hard questions of your LANDMAN, and/or LANDWOMAN. Your LANDMAN should be able to tell you up-front of potential or active drilling. I also have learned that drillers can do what is called........"FORCED POOLING".......approved by the Corp. Commission. Also once you have signed your lease you can obtain information about the drilling from the OKLAHOMA MINERAL OWNER REGISTRY. (OMOR) will send you info. and password to access the webb site.
Hi Leta, I have already signed a lease with meadows oil as I had not heard of any bonus amounts higher than what I received from them. The other offers I had were to buy my rights but I was not willing to sell. I do not have a landman so I could not ask any questions of him. And I do know about forced pooling because I was looking at all options as I am not really comfortable with hydraulic fracturing. Did you sign a lease with someone else?
The last lease got leased @ $800.00 in sec. 14 12/16/14
$750.00/ a in secs. 23,24,24,26
$650. in the rest of 7n 10e don't know what % they got.
Yes, I leased at $750.00