I company contacted me recently about wanting to buy the rights to my inherited (I didn’t know) in Hughes and Pittsburgh county mineral rights.
HUGHES COUNTY
SE/4 SE/4 of Section 11, Township 5 North, Range 10 East
Section 11,-Tcwnship 6 North,_Range 9 East
N/2 NE/4 of Section 14, Township 5 North, Range 10 East
SE/4 SE/4 SW/4 of Section 28, Township 4 North, Range 10 East
PITTSBURG COUNTY
W/2 SE/4 of Section 24, Township 7 North, Range 13 East
NW/4 NE/4 & N/2 SW/4 NE/4 & N/2 NW/4 NW/4 & SW/4 NW/4 NW/4 & N/2 S/2 NW/4 of Section 25, Township 7 North, Range 13 East
I have created a OKCountyRecords accounts and it looks like I do own the rights. But I’m not sure of what next steps to take to find out what it is worth and wether to lease or sell?
Thanks
Todd
Welcome to the community.
Never sell until you understand the consequences and values. If you are being approached, the buyer has more information than you. Many others will chime in.
In Oklahoma minerals are incredibly easy to own. Wait and watch for great responses to your post.
You need to make sure you are in pay status on any minerals you inherited that have active wells. You need to contact the operators.
HUGHES COUNTY SE/4 SE/4 of Section 11, Township 5 North, Range 10 East. You may have paying wells in this section. A vertical well called Barbee 1-11 by Southern Resources aka Southern Petroleum Exploration. See if there is any back pay associated with Webster 1-11H with BP as operator.
Section 11-Township 6 North-Range 9 East- Tilford Pinson Expl had a well called Henry 1-11 which was in section 11, but whether you get royalties would depend upon the spacing and where your acres are located.
N/2 NE/4 of Section 14, Township 5 North, Range 10 East. You might have production in the NE4 with Vanguard operating and at least two horizontal wells which spud in 11 and go south into 14. Newfield is the operator.
SE/4 SE/4 SW/4 of Section 28, Township 4 North, Range 10 East Newfield has several horizontal wells in section 28.
PITTSBURG COUNTY W/2 SE/4 of Section 24, Township 7 North, Range 13 East Hill #1-24 Brower Oil & Gas was producing at least until Nov 2018. Lots of horizontal drilling nearby!
NW/4 NE/4 & N/2 SW/4 NE/4 & N/2 NW/4 NW/4 & SW/4 NW/4 NW/4 & N/2 S/2 NW/4 of Section 25, Township 7 North, Range 13 East
Peaking of the nearby. Briar Oil & Gas has vertical wells still online.
You may be held by production, so get into pay status if you are not already. The mineral owner has to contact each operator to tell them they inherited the minerals and to start paying him/her. Then learn about your area by reading on the forum, looking up investor presentations of the operators, planned activity, etc. There are quite a few threads on the forum regarding selling or keeping.