Grady S12-9N-6W offer to purchase


#1

Hi Folks,

First time post. I just found this web site and holy cow what a wealth of information. I have not slept in days I have been reading so much.

My brother and I own mineral interests in S12-9N-6W and recently received an offer to purchase for $12,500/acre for our 80 acres. What can you tell me about this section and the surrounding sections. Is this area in this Scoop/Stack play I have been reading about? Are they planning to drill in this area? etc…

Thanks for any help.


#2

Welcome to the forum!
The reason that you have gotten an offer to buy is that Roan Resources has filed for an increased density for several more wells. One has been approved in the Woodford. They have also filed for increased density to drill two more wells in the Mississippian. Very common to get these sales offers right after density notices go out. Have you gotten royalties before on the shallow wells? Chisholm Trail, Wilkerson, Osborne? Jesse Chisholm 12-9-61H is the horizontal. If so, then you will be held by your original lease royalty. When you get an offer, it will vary according to your royalty. 1/4th will get more than 1/8th for example.

You should be getting all of the OCC mailings on these wells. The Langston wells were spud in April, sold to Roan in May and probably are about to be replorting completions if they are finished. Not sure if the spud them and then stopped while Linn was in bankruptcy or not.

Someone is trying to buy your acreage out from under you before you get paid on the wells. If you have no reason to sell, then ignore the offer. If you do need to, then consider only selling part and certainly ask for more, enough to offset the royalty from those new wells! That offer is low to what I have heard in the area.

Yes, it is part of the SCOOP-northern end. I would encourage you to look up the investor presentations for ROAN Resources, Continental Resources, Newfield, and Marathon, to name a few. They are very active in the SCOOP and you can get a feel for what is going on.