Hi everyone. A relative recently inherited some mineral rights in Caddo and Grady Counties. As far as I can tell, all the necessary court documents are in order. She’s been getting offers to lease and buy her rights in Caddo County - specifically in Section 29-8N-10W and Section 13-9N-10W. She’s been offered $6,000 per acre to sell the rights. The lease offers have ranged from $200/acre + 25% royalty to $1,500/acre + 12.5% royalty.
Can anyone tell me what type of activity is going on in this area and if these offers are in line with what other folks are seeing? Some of the buyers seem to be in a pretty big hurry.
Thanks!
Section 29-8N-10W- extremely active leasng n this township. Continental Resources permitted a three section horizontal well just to the east of her. Coterra filed for a multiunit horizontal well for 20/21/28/29/32/33-8N-10W. There are probably going to be a whole bunch more wells drilled at an angle in here by either of those two companies. I would not sell. I would go for the 1/4 royalty as multiple wells at 1/4th royalty (with a lower bonus) will FAR outweigh a one time bonus at the 1/8th level and missing out on half the royalties. She may get multiple offers to lease from various groups. She can also wait for forced pooling. The first well looks like it will just skip 29, but it may slip into it. The spacing on these wells is agressive so getting a good deal is important. They are drilling that first well in the middle of three laydown 1280 spacings. I would hope they drill the wells on either side in the near future, but that first well will hold quite a bit of acreage.
if she has never leased before, she needs to get a good attorney to review any draft leases as they are not in her favor and need extensive edits. Do not hand over a signed lease without getting paid the same day! If she cannot afford an attorney, then the pooling is a good option as well. I suspect a pooling case will be popping up soon. Make sure her name and address are properly filed in both the Caddo and Grady county courthouses with the title documents or the leasing agents cannot find her. If she did not get a mailing for cases 2025-003299T, she needs to contact the attorney for Coterra immediately.
Section 13-9N-10W-basically the same thing is happening here. Continental is doing a similar thing. They have a well permitted just to the south in 25/25/36. 13 is in the spacing, but the first well will miss it so getting a good lease or pooling is critical for the possible next wells on either side.
Here is the one that goes through 13-9N-10W .
They have already filed a pooling case for section 13. Did she get the mailing?
