Thomas, it isn’t normal for them to send without a lease, however there were a lot of terms I want changed or done away with. The offer was with the same company but with an Adam Moody.
Thomas, have you heard anything? I haven’t.
Jerry: I have been too busy to investigate the Universal proposal. Thanks for asking, I need to call them tomorrow and get this back on track for my brother and me. Thanks for mentioning that you required changes in their lease document before signing.
Has anyone had dealings or offers from Universal Land for Calyx, good or bad?
Richard, read the posts from Thomas and myself. I haven’t heard anymore from them.
Has anyone leased with or had lease offers from Viper Resources lately in Lincoln County? Good or bad experiences?
Rick, the range is 4 East. Thanks.
Has anyone leased or had offers in Section 31 Township 13 North in Lincoln County recently?
SM Energy has been leasing in the section this year.
Any idea what it is leasing for?
What Range, Gail?
Does anyone know what the status is on well name Pontus 1-30H being drilled by Equalenergy in Lincoln County? From the tax code it looks as if it was started on 4/22/2012. Any info would be appreciated.
I just leased in SE/4 Section 14, Township 16 North, Range 03 East. Lincoln County, Oklahoma $175.00 acre 3/16 royalty 3yr. 3yr. option Lease agent Reagan Resources, Inc. OKC unknown operator any more info would be appreciated.
Ok thanks Richard for that info. I may have messed up on that 3yr. option. I did get a no deduction and pugh clause with the lease hope that’s a plus.
FYI There is an increasing amount of leasing going on in Lincoln County. There are a lot of land companies doing business and they are even writing leases for 1/8 royalty and getting away with it. Check out the company you are leasing with and they should tell you who they are leasing for. If not, take some time and call some of the major drillers that are working the area and see if they are willing to lease. You will be surprised at the offers. I would advise, and this is just my opinion, that you do not need to lease with an option on the end; you will lose money in the long run. I would suggest you read this forum and go to other county forums where there is a lot of drilling going on and see what and how everyone is learning how to lease for the advantage of the royalty owner.
Shayne I think as long as you are happy that is what matters. I just leased in 17-16N-6E and received the same terms as you did except no option, which they wanted. I started to hold out for a while and see if the price will go up but I went on and leased, thinking I may get another lease before it gets hot and heavy in the area. Regan is a large land company and probably working with some good operators. Good luck and I hope they drill your area.
We recently had an offer to buy mineral rights in Section 17-13N-6E. The offer was for $700.00 per net mineral acre. Does anyone know if this is a reasonable offer?
Deloe,
Can you give us the legal description? Section-Township-Range, ie: 22-16N-2E
Mr. Mulkey, I would second Rick Howell’s advice. Even a less than spectacular well could return $700 per acre in the first year, possibly much more than that per acre in the first check if a decent well. As Mr. Howell, I don’t know your situation and realize that people do what they must do, but if possible I would want to collect a few checks from the well before I had to sell because the first year is usually the best year, and I don’t think the value of the offers you might get for your mineral interests would drop if you had a producing well upon them and may go up. Good luck with your minerals.
John,
If they sent you a cold call offer in the mail, there is a very good chance it is too low or not a valid offer.
It looks like it is leased and under a pooling application right now. You might see production within 12-18 months.
I would not sell, but I don’t know your situation. Regardless, you want to take the time to market for the best value if you do sell.
Because it is leased, the lease you signed will also impact the value when selling. The buyer will be subject to that lease when drilled.