Kaye, your September 8 comment helped me understand what’s going on a bit more. Thank you! At this point in time, I’m sitting back and waiting. I do want to get the best bonus and the best terms.
Thanks again, Pam
FYI
I have minerals in Section 26, Township 15N, Range 2W. Currently, the best lease offer is $350 NMA with 3/16 royalty.
FYI
Also have minerals in Section 7, Township 16N, Range 1E. Best lease offer thus far is $300 NMA at 3/16 royalty.
Ron,
What is the name of this well? It’s a few miles west of me. Do you know what sand it’s in?
Completion 5-19N-3W, 310 BOD & 359 MCF.
Thanks Virginia, good to know.
Dazed & Confused
This is very common in the oil business to buy cheap, flip a few times as they may need the money to pay off a mortgage or drill a well and something just to make a profit.
Also, I just found out that a guy sold the minerals for a whole section which included my minerals and he didn’t own any of my minerals. I called Uni Royalty Group out of CO. who purchases it and told them they had put a cloud on my farm because of their filing a mineral deed, they told me to go to hell and they wouldn’t do anything. Then I found out they had already sold it to another group. So, now I’m having to pay a lawyer to have them sign off and clear my title. So, everyone needs to check their records about once a year or more to be sure something like this doesn’t happen to them. Go to your County Clerk office and ask to see your records, most people that work in these offices are nice and will show you how to do it, but they can’t do the work for you. Hope this hasn’t happened to anyone else.
Virginia: It is the Box 1-5H in the Cleveland and the second well in that section. The first was the Jantz 1-5H, 55 BOD and 135 MCF. I also found the Wilson 1-H in 1-19N-3W, 129 BOD and 113 MCF.
Ron,
Do you have any information on production for Osage/Slawsons, Davis Farms 2-5H in Section 5-Township 16N-Range 3W which was spudded on 5-27-12? There is no completion report in the OCC’s Electronic Well Data Base as yet and it’s been almost four months since they tapped in!
Anyone know a good oil and gas attorney in Guthrie or Perry?
Brooke,
Don’t lease for $100. I haven’t heard of anything less than $300 in the last year. Most of it is a lot more. Some people are even getting 1/5.
They are trying to make a profit. Hold out and then read the lease really good, don’t sign anything that you don’t understand or you still might not get anything.
Brooke,
Minerals are leasing from 300 to 1400 per acre in this area right now.
Osage is drilling a vertical well to check out the Oswego formation just south of me. Apparently, they found a very oil rich zone. Anyone know anything about this zone?
I recently found out by a land man from Striker Oil Service that my great grandmother purchased 4 acres of mineral rights in Section 15-16N-1E. Can anyone tell me what is going on in this area? They made an offer of 100 an acre and 3/16 royalty. We did not accept. Two weeks later they are no longer interested and said there was no oil there. We are from Arkansas and have no clue how to find out where the locations are or who to talk to about these mineral rights. Can anyone help or just tell me what’s going on in this area and what trustworthy company we can talk to?
Brooke, some people and companies just go around looking for bargains. If you refuse the first offer or want to negotiate, they just keep searching for the bargain. Since they found you they probably already had a good idea about the title and it’s easy to see where they could flip your acres to someone else at a profit if they only paid you $100 per acre. I hope you found out enough so you could record your ownership through proof of death and heirship or other document.
Has anyone on the forum had any leasing deals with Tetra Energy? Would like to get a contact number for their land person.
So has anyone heard of any offers or any wells coming up in Section 15 or if there is any oil to be pulled from this area?
Robert, There is an article posted by Clint in discussion forum above about Osage well in 18-18N-3W.
I’ve not heard of any lease bonus paid above 800 in the Mulhall Orlando area which was for my lease. What company paid 1400 and in what area? That is a lot for an unproven area.
Lee
After reading many of these posts I’ve learned a lot. I’ve learned that negotiating a lease is not for the faint-hearted or uninformed. Becoming informed takes a lot of time and study. Even then mistakes can be made that would leave one short in many optional areas.
As a result, I went searching for an Oklahoma attorney to handle my mineral rights and leasing. By the grace of God, I found a jewel among the refuse.
He only charges a flat fee one time and has over 30 years experience. He’s in Oklahoma City and communicates clearly in all aspects of the leasing offer.
He is currently working on a lease for me between two landmen who represent two different operators, which is a fortunate opportunity for me as the competition is working to improve the lease.
I can highly recommend Robert Robles based on the relationship I’ve had with him via phone and e-mail. In case you might be interested, I’m posting his website link: