My sister and I have mineral rights in Grady county inherited from our mother & grandmother. We have been leasing to different companies for a few years now and have two leases which will both expire next year at about his time. One of them was renewed after the three years expired for another two years which we thought was a good sign that maybe they would drill. Is there any activity in SW/4 SW/4 Section 4, T9N, R7W, Grady County? or Section 5-9N-7W? I live in California and all this section stuff is quite foreign to me. Thanks in advance!
Linda, I also own minerals in section 4-9N-7W among others in Grady County. My lease was also up about this time last year and I negotiated a new 3 year lease which was a tactical mistake. You are a year away from leasing again but I am 2 years away. Your goal should be to lease again in a year and then hope for a well.
I will mention that we have 3 gas wells in section 3 just east of section 4 that have been producing for at least 25 years. The Woodford rights have been acquired in this section from our lessee which is reassuring that they want to drill there as well.
My opinion is that Continental Resources has so much leasehold acres that they will not be able to drill this section in the next year and I hope not in 2 years (sorry about that) so we both get a chance to lease at least one more time. If you watch this forum, I will keep you informed about this section 4.
Who was your mother and grandmother?
Thanks for the response. I really appreciate it. My grandmother's name was Sadie Fischer and my mom's name was Betty. They left Oklahoma back in the 30's. My great grandfather was George Moeller and he owned the Minco National Bank at one time. Any of those names sound familiar?
I Linda, I too live in California now and inherited our mineral rights in Section5, Grady County, from My dad, Gordon Denney. We signed a lease one year ago and there is no activity however, you will find these discussions very interesting. Thank you Brian for doing this! Linda Keck and these fellows sound very knowledgeable and are providing good articles for research. Thanks all of you!
Well our lease in sections 4 and 5 are up in October and we have already been contacted by one of the companies to see if we are interested in another 3 year lease. Does anyone know what the going rate per acre is? Thanks!!