Oil & gas discussion group for those interested in Latimer County, Oklahoma. Share your experience regarding lease bonus, royalty rates, drilling activity, and oil & gas news.
I’m from Texas—what’s the play in Latimer County?
I would not be able to tell you very much. I know it is on the edge of the Woodford play that is occurring in Pittsburg County.
I know there are several large fields being developed.
After that, I am not much help there, other than being physically located in LeFlore County adjacent to Latimer County.
I also own small interest in Leflore County. Can you tell me about plays there? Thanks.
Pretty quiet in LeFlore County. Where are your minerals?
I was afraid of that-- Township 10 North, Range 27 East. Thanks.
What Section, because I saw something in that vicinity the other day.
Sections 22 & 27.
No, nothing in those two that I am aware of.
Any activity in Section 36-4N-17E?
I have some mineral rights in Latimer County, Section 19, Township 5N, Range 22E. Any new activity in this section?
I am a non-local owner of surface and mineral rights in Latimer with a producing well on adjacent property. Just found out that a large oil company has a road crossing (since 1996) my property to access the well. What is the customary road usage compensation?
Is there any activity on Adams #2-6 Section 6-5N-21E? I just recently signed my division order to claim my property. Can you tell me if I am owed back pay from the royalty payments?
How can I find out if I am owed back royalty payments from when the property was left to me?
I would like to see some leasing activity in Latimer County. :-))
My name is Troy Curtis, a landman, with Concho Land Company in Freedom, Oklahoma as well as Oklahoma City. I thought while times are slower, I would offer to help with any questions people may have in general and post my email, conchojobs@gmail.com for any and all questions. I also wanted to offer our services for individuals in need of mineral research or help with production related concerns in all Oklahoma Counties and the surrounding states.
Anything new or hopeful for Latimer County?
Specifically… Sec 19 Township 5N Range 22E.
Don’t know if this is true, but heard on the grapevine most oil companies will not be interested in leasing until natural gas price is at $5.00.
FYI - Not a lot going on but I see a few mineral deeds in the CH and the price ranges from $80 to $600 per acre - average is $285/acre. Average lease bonus according to Lierle (a lease survey) was $125. With the old landman x 3 multiple that suggests a price of $375/acre for mineral value.
But face it - there is simply too much gas available for prices to rebound anytime soon. Even if we have a bitter, wet and cold winter, the glut is enormous and the associated gas and liquids in the oily plays is only making it worse. We need to reinstitute allowables and prorate production in my opinion. That is the only thing in the short term that would raise prices while discouraging further drilling.
In another year, we can count on many of these new fancy drill rigs to be in foreclosure and slated for the scrap yards. The sooner the better. Nothing but less production is going to increase the price for a long time to come. So as an old welder told me years ago as he tried to strike an arc on a delicate job - keep a stiff upper lip and a tight bunghole.