Recently getting a few offers to buy small mineral acreage in sections 20-8N-20E. Our minerals appear to be HBP according to one of the interested parties from a lease dating all the way back to 1966 on the #1 Bryant well producing from the Atoka supply source (according to the most recent PUN). The offers are no doubt due to proposed activity by Trinity Operating for a couple of proposed multi-unit Woodward wells in this section. We don’t have a copy of the original lease unfortunately but are in search of it currently but in the meantime why would any entity be interested in purchasing our minerals if this old lease HBP would exclude our minerals from participating in any production Trinity may get from new wells?
Your old lease will probably not prohibit any new royalties from the new wells. Give that it is an old lease, it probably covers all depths since not too many depth clauses back then. The terms from the old lease will include the new well. Ask the current operator for a copy of your lease.
Mary, Thanks for feedback. You are correct as usual. I dug up some correspondences I had with Red Bud a year or so ago where they cleared this up. So now I again face the decision on weighing the hold vs sell decision based on anticipated success of any new wells which always makes my brain melt.
M Barnes …I read your profile…interesting…you have to be a very knowledgeable person. How do I find out about oil/gas lease prices in Haskell County Oklahoma. Family has property in section 19 in Hoyt area. Your help appreciated.
If you post your section, township and range in the Haskell Co topic area, so may get responses from folks who have similar offers. The offers are not public. The closest you can get from a public source is the pooling data in the contiguous sections (if any). So post your question with the S-T-R and folks will try to help.
Thank You, I appreciate it