There has been a steady flow of letters and a landman asking what my “sell it now” price is. I’m inclined to ecplore a lease/royalties option. However, I’m in California and don’t have eyes in OK. Can someone assist with current sell and lease offers in/near my section please? Thanks!
Don't sell!! The more they ask, the more you know it is valuable. There are some really good horizontal wells in that area.
You should already be getting paid on the Juanita 26-M4H. It may be spelled Jaunita . The Operator is Longfellow Energy LP and the oil and gas buyers are Phillips 66 and Mustang Gas Products respectively.
Since you Held By Production (HBP), you will not get to lease again. The original lease holds the entire acreage as long as there is production. If you are not getting those royalties, then you need to find out why not and get them into pay status. Did you inherit? move?
LONGFELLOW ENERGY LP
PO BOX 1989
ADDISON, TX 75001-1989
M Barnes thank you for such a great response! I've spent some time observing in the forum before deciding to become a member and it's apparent that you are very well respected in here. You were actually the person that I'd planned on reaching out to. :-)
Yes, my mother inherited the 35 acre rights from her deceased husband but was unaware until just a couple of years ago. However, she did not really look into it. I only learned of the mineral rights about a year ago and just inherited with my mother's recent passing. Am I due retroactive payment? And how do I find out what the terms of the original lease are? You've been a great help. Thank you!