Kingfisher mineral sales offers

I've been rethinking my position on selling our mineral rights in Kingfisher: S31-16N-5W NE/4 E/2, S31-16N-5W NE/4 W/2, S29-16N-5W SW/4 W/2, S29-16N-5W, SW/4 E/2, and S29-16N-5W SE/4, and wonder if anyone has an idea of the latest amounts being offered. Some months ago I got an offer of $5,700/acre but see that wells have been going down in the area lately with several fairly large wells. Any info will be appreciated.

Sooner Trend offered $10,500 an acre in Kingfisher County on a 1/8th interest.

watch out for bait and switch contracts

Thanks Marcie for the info, better than I had expected and we have 3/16 lease which I guess would be worth a little more.

Bill, can you elaborate on bait and switch contracts?

I've been getting some offers that are very probably click-bait of $10K/acre (click-bait isn't the right term, but they aren't likely to offer that in reality.)

One well is in and seems in a range of 'good' production. Landman had early on said the operator could add up to 5 more if all went very well. Too soon to know. But the area is close to yours - it's S29-15N-7W.

Seems like with all the offers, it's more a good time to lease? Am really curious myself about the potential of oil/gas barrel price in the near future. Will operators more likely hold production for a while?

M Barnes and others on this forum had some very helpful advice. Maybe you could search for their comments on sale vs. lease, and other advice.

Yep, thanks for the comment. For quite some time I though I'd hold on to the leases BUT I'm old and don't really want to just keep getting the small checks for existing wells. Recently had a pooling order go through for a new well and there are some new good producers in the area so decided that it might be a good time to sell before someone else inherits and has to go through all the transfers. Kinda of money in the bank versus a hole in the ground reasoning! lol

And you're right about Ms Barnes, she is very knowledgeable.

Good point! I need to give this some thought too, actually. I would also be interested in further advice others may give here.

Yes, in the past couple of years we had to go through a probate in Oklahoma which involved getting a lawyer and investigator there plus a number of other things associated with mineral leases which is expensive and difficult unless you live in the area and can do it yourself, doing it long distance from CA is always a problem. My thinking is that if a good offer can be had it might be better to sell than leave it up to our children to have to deal with. And with the oil business there are a lot of variables, prices keep changing and if new wells do go in you can be looking at 6 months to a year before you get any benefit. For younger people it might be worth getting royalty checks for us not so much.

When you say other things associated with mineral leases are difficult unless you live in the area... what kinds of things? I'm in OR and was force pooled... and had an existing lease held by production on an old well that seems to have played out, or is being held.

I've noticed some extended family have put theirs in trusts or LLC's. I think if there was a reasonable way to do that, to leave something long-term to my inheritors, it may be easier. Then it's just changing owners of the trust (or they would inherit my share, if they were beneficiaries of the trust.) I just went through administrating the ownership when my sibling and I inherited, so, yes, it's complex.

On the other hand, a sale could be a simpler solution!

Still wondering when I will see any benefit - they completed a well in January that apparently has some oil and gas - 1st prod date Jan 20. Not sure where to find more info. I have a call into the operator a couple weeks ago just for info, but no call back.

The time table I've been given says that it can take six months after production begins to get a first payment, after that they have to start paying you interest. For us the biggest problem was discovering an oil lease that no one in the family knew about which had royalty payments sitting in an OK bank for many years. Our parents had a family trust and had the foresight to include the Kingfisher mineral deeds in it and ownership changed via affidavits with the producers so it wasn't a big problem BUT years after their deaths the Blaine County royalties were discovered and since they were not included in the family trust we had to get a lawyer and investigator in OK to probate our parents estate in an OK probate court. OK doesn't recognize trusts and unlike many other states (like CA) required we probate in OK even though our parents lived in CA. It took almost a year to get things worked out between the probate and getting the assets released from the OK State Treasurer and it took about 20% of the assets. It was complicated but we had no choice. Maybe if you have hard copies of your mineral deeds, leases, etc., you can avoid some of the problems but we do not, evidently they disappeared during one of our parents moves and that has made things more difficult right up to present day. Even with good information from M Barnes and some others it has not been easy one big reason that I'm considering selling and not having to deal with the leases and royalties anymore. Hope that helps you some. Of course, the big thing is getting a reasonable price for your minerals. Our wells have been producing for 50+ yrs so now the production is low. With new drilling techniques new larger wells are coming into the area, maybe royalties will go way up and then maybe they won't, it's just a gamble and a tough decision to make about holding or selling.

Contacted Sooner Trend and their landman replied that they are not interested so evidently they have changed their mind or know something that we don't.

Latest on this is that Sooner Trend replied via their landman that they are not interested in purchasing that property's mineral rights then, today, received an offer from Ace Energy LLC in Oklahoma City offering $6,500 per acre. Has anyone done business with them or know anything about them?

section 17-19N-8W- I owned a working interest in chesapeakes Richard 1-17 and went non consent- people are calling about my interest- what kind of well was Richard 1-17

section 17-19N-8W-Richard 1-17 (Chesapeake)- I owned a working interest and went non consent- several people have contacted me about my interest- what kind of well is Richard 1-17- any info is appreciated- HOOK EM HORNS!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

Completion Report-Richard 1-17

28 Barrel Oil Per Day/40,000 Cubic Gas Per Day

Clint Liles

is that well still producing- is that well still holding that acreage- thanks