Grady County Sell Minerals

#1

I have an offer of $12k / acre to buy my minerals in Section 29-7N-5W in Grady county, OK and I would like to get input on the wisdom of this action. The price was negotiated after several rounds of offers and counter offers.

I would appreciate input from M. Barnes or anyone in the Mineral Rights Forum with either straight up information or general advice.

Some information that I gathered on this section in Grady county is as follows…Section 29 in Grady county is being held by production by one well (BOYD B TRACT 4) which appears to have been pumping the minimum volume of oil per month for many years/decades, apparently in order to hold a lease under production. CP Energy is the reporting company (note that Silver Creek is the operator) and I get a small check from CP Energy each year. One producer/operator (Continental Resources) is challenging the lease holding production due to potential substantial natural gas play in different formation(s) than the lease holding production. It is possible that these mineral acres may be opened up for lease in the near future. The leasing price for surrounding sections is anywhere from $2500 to $5,000 per NMA.

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#2

If it were me, I would not sell in 29-7N-9W. Continental just got an order allowing three more Woodford horizontal wells for that section. (Hence your offer to buy). You should be getting the massive number of mailings for all the pending cases that go with those wells. Their paperwork says 13.8 BCF gas and 3.2 miilion bbls oil (take it with a grain of salt). I see your name on the respondents’ list. If you are not gettin the mailings, contact Continental and get your address change.

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#3

Ignore my typo of 9W. slippery fingers The $12,000 is low to several offers nearby if that adds to your data base. Would depend upon your royalty of course. Would suggest that you search the topic SPRINGBOARD and catch up there. Might be pertinent for you.

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