Steven according to the Okla. mineral owners registry over the last year they are reporting lease prices of $150 to $200 in section 19 and 31 in 17N-4W and 2 wells drilled in the last year in 19 and 28 both oil and drilling taking place in 31.
Steve,
I would think that leases are going for more than that this year. I leased last year for almost twice what Richard stated and it was for 3/16 or more. I haven't been to Cresent for awhile as I live out of state also, but in north Logan co., Payne and south Noble, they are doing some drilling, but water is hard to find. Kingfisher Co has had lots of production in the last year or so. Do you know any of the neighbor's? If so, give them a call and ask what is taking place. If you don't check this site out and see who there are. www.okcountyrecords.com (country clerk records.) Their are several counties that aren't on this site yet.
Thanks for all the info Virginia, I agree. I also have the link to OK County Records already saved in my favorites folder from previous research. It appears the organization Richard mentioned is a for-profit and for all I know is industry owned--or mabey not. They're apparently providing lease prices (according to Richards post) which oil companies and lease brokers don't generally give to mineral owners, especially if they're wanting to lease your mineral rights.
I actually did speak with someone who leased in the section next to ours but got the impression he wasn't all that comfortable getting a call out of the blue from a 'neighbor' three to four states away asking about lease prices-----Perhaps I was too direct--oh well, lol!
Hey, how do I add you to my friends list Virginia? Although I registered months ago and have read quite a bit of what people are saying I've not posted on the site until this morning.
Steven
Virginia Pflum said:
Steve,
I would think that leases are going for more than that this year. I leased last year for almost twice what Richard stated and it was for 3/16 or more. I haven't been to Cresent for awhile as I live out of state also, but in north Logan co., Payne and south Noble, they are doing some drilling, but water is hard to find. Kingfisher Co has had lots of production in the last year or so. Do you know any of the neighbor's? If so, give them a call and ask what is taking place. If you don't check this site out and see who there are. www.okcountyrecords.com (country clerk records.) Their are several counties that aren't on this site yet.
Steve,
The site that Richard mention is for profit, but it's really a good site. You have to remember that they take an avg. of what was paid in the area. So, you may find that someone leased for $40 and other leased for $250, that brings the price down fast. And then they may have to pay extra for a couple leases at the last in order to get the acres they need, so those people are paid a lot more to finish the track out. Usually it's to land owners who have a large tract of land. So if a person only has 20 acres of mineral in a 640 acres pooled unit, they really don't need to lease your land, they can just pool it, not pay you a bonus and drill anyway. I'm not sure what the % of land they have to have leased in a pooled spacing now days, I think it maybe about 70 % in Oklahoma, but not sure. It's a lot less in TX. I don't know what Richard does for a living, probably in oil business and they don't want to pay anymore than they have to. You have to remember they are trying to make a dollar also. But, I will thank him and all the other oil men & woman on this forum. You have to take some of what is said on this forum with a grain of salt and check it out yourself.
Oklahoma Mineral Owner Registry is a great place. The mineral & royalty owners can subscribe for about $35 per year and they will keep your address and information up to date. You can go to their site and get information regard drilling, leasing and see what is going on in your area. They have a learning center and you can ask question, so it's well worth the money if a person is new to this or if a person moves a lot. I think a person would be surprised to see how many landmen would just love to find everyone that owns minerals under a few acres. I know I got a notices from OCC regarding a spacing hearing and it had about 25 name with unable to locate on it. This maybe people who passed away, their kids inherit the minerals,lives in another state and have moved a lot and no one can find them. Or the daughter got married, changed names, moved a few time, didn't know they owned anything, so oil people can't find her. You have to remember some of these people may have purchases 5 or 10 acres of mineral 50 years ago and the well has been closed for a few years. Now they want to drill again, but this 50 year old was maybe 35 when he purchases the minerals and is now in a nursing home somewhere. Unless their was an estate or someone was smart and filed something in the country clerks office to keep the address up to date, it may be impossible to find them. So the Ok Mineral Owner Registry was set up to help people who own minerals.
Steve, my email is: pflum1@sbcglobal.net
Feel free to email me if I can help
FYI Virgina I am a mineral owner who is disbled and retired who creidts this forum for most of my knowledge of the oil and gas business. I just try to give advice according to the sources i have and what i have learned over the last few years to the many questions and discussions on this forum. Lease prices can change in a heart beat, in Grady County in the last six months the average has gone from $250 to $1500 an acre, myself receiving $300 in a section that was pooled for $500 but I am waiting for our well to be fracked at the end of March because of a dispute over right-way for the gas line. I think the registry is a very important source for myself since all the minerals i have had been inherited and about half of those ended up in the missing fund of the State and thus it took awhile to recover with the right proof of inheritance, maybe now a landman can find our names before they turn it over to the oil company for pooling and we receive just 1/8 royality since they could not find us. Virgina I appreciate the information and knowledge you add to the forum.
My family owns land and mineral rights in about the same area (Logan CO.). We have signed leases with an oil company out of OKC. We got $300 an acre. They have not started drilling as of today. DEVON ENERGY is the oil company. We hired a lawyer to handle all the leasing papers. We also found that doing some of the research ourselves saved a lot of time and money. My Great-grandparents settled this land in the 1889 land run. With all the original family members deceased, the rights have been split so many times (down the family tree), that the money is not going to be a huge amount for anyone. So, you need to find out what % of the rights you do own. Hope this helps a little...
Just wanted to wish everyone on the forum a Blessed Easter season with thanksgiving for all the valuble insight and continued support from the group.
Kind Regards,
Steven
Steve,
Thank you for the Easter Blessing.
I lost my son on Easter Sunday, so I won't be on the forum for awhile. He was in the hospital 29 days on life support and couldn't get off it. But, if he could have choose a day, it would have been Easter.
Want to say, Thanks to everyone for all the great information that everyone is sharing. Sure makes it easier to work with oil companies especially if you live out of state.
Steven,
Which company approached you? You may have read that a company called Osage Exploration & Development is making a large play in Logan County, so I suspect they are the same company that contacted you.
The offer we have on our property in 17 N 4 W, Section 13 is $400 per acre, 3 year lease 3/16th royalty on production. Does this match you offer?
Sincerely,
Bob
Steven,
I just got home from Logan Co, Ok and was surprised that I didn't see more wells drilling in the area. I only saw 2 wells drilling on the east side of I-35. I went by the RV park in Mulhall and only saw 2 company trailers in the park. Has the drilling slowed down already?
From what I heard while in Okla. The going price is about $350 to $400 with 3/16. This is a lot better than it was a couple years ago.
Virginia
Two of the rigs are now in Woods county one coming back soon.Most of the rigs are under contact for a year or more with differant companies and get moved many miles each time.Devon has rigs that will come here as the drilling for gas slows.Nomac also.You cant make any money drilling gas wells with 2 dollar Nat gas.
Lee
Steven,
If you have legitimate acreage in Section 26, in T17N - R3W, I am a representative for Osage, and you can reply directly to me. We are motivated to lease in that area and would make you a very good offer.
Scott
Virginia Pflum said:
Steven,
I just got home from Logan Co, Ok and was surprised that I didn't see more wells drilling in the area. I only saw 2 wells drilling on the east side of I-35. I went by the RV park in Mulhall and only saw 2 company trailers in the park. Has the drilling slowed down already?
From what I heard while in Okla. The going price is about $350 to $400 with 3/16. This is a lot better than it was a couple years ago.
Nabors 357 didnt run pipe on their last H well NE of Perry.(Dry Hole).
Lee
Steven
I would recommend standing aside and let a few more H wells come on line.If they produce as the first two around Mulhall and north the price will go up.850 to 1000 as compaired to alfalfa county.
Lee
Lee,
Do you have any legals on this well? Was it one that Sand Ridge drilled or Red Fork?
lee phillips said:
Nabors 357 didnt run pipe on their last H well NE of Perry.(Dry Hole).
Lee
Steven.
We had an offer a couple of weeks ago of $300/acre, 3/16ths, 3-year lease on 10 acres ,Secrion 15 SW4, Township 17N Range4W. We're sitting on it for now, hoping to get a better offer.
Forrest
I'm in 17N 3W section 20, and Osage is wanting to lease our 161 acres. Anyone know what the going rate is per acre for bonus money and what the royalty percentage is?? Also anyone know if any company plans on drilling in 17n 3W section 20??
Karen King
STEVEN, DID YOU EVER LEASE YOUR MINERAL RIGHTS? i HAVE SOME LAND CLOSE TO YOURS AND WAS OFFERED $400.00 AN ACRE-DOES THIS SOUND FAIR TO YOU?
THANKS,
CAROL
we also own minerals here, leased ours for $650 per acre