Yes Ron I leased about 2 1/2 years ago with Devon.
Three year ? Option ?
Mr Wilson, Wolf 1-29H is in Logan County at 29,17N,3W. I showed the API Number earlier this evening. The Well Completion Data Report in May showed quite different production numbers
Thanks Ron for the map
Here is how I have found the Logan County Map to be useful.
Logan County was pretty much laid out by the government for settlers. My Great Grandfather was an 89er. Look up “Oklahoma Territory” on Wikipedia.
It is very easy to find one’s lease holding. Look carefully at the map on your computer screen:
Notice on the left margin the Township Identities, T15N, T16N, etc.
Notice across the bottom the Range Identities, R4W, R3W, etc.
Notice each small square has a number in it from 1 to 36. These are Sections.
The border of each Section is a country road running either North/South or East/West.
[The dark lines are paved roads. They usually run along section boundaries but not always.]
Each small square, a Section, on the map is one square mile. A square mile equals 640 acres.
A Township is 6 miles by 6 miles. 36 square miles consisting of 36 Sections. One can see the small Section Numbers from 1 through 36.
So, here is an example. Section 7, Township 17 North, Range 3 West {aka S7, T17N, R3W or 7,17N,3W} is directly above the ‘sce’ in the Town name of Crescent.
Each of the Sections were subdivided into Quarters, i.e. NW, NE, SW, SE. Each quarter is 160 acres. Thus one sees the following Legal Description NW4, S7, T17N, R3W.
The quarters may be further subdivided, thus you might see NW4, NW4, S7 T17N 3W or the Northwest Quarter of the Northwest Quarter of Section 7 Township 17 North Range 3 West
If someone knows something different please correct me.
Cheers
Larry,
That’s what I see. Now if you enter the legal description [not the undivided stuff] at the following web site, you can see about drilling and oil and gas well activity
http://www.occpermit.com/WellBrowse/
If you want to learn about Lease activity, go to this web site:
Larry Banyash,
Did a quick check at okcountyrecords.com. Looks like there was a round of Leasing in June last year that you may want to investigate.
thanks, Harley. I see the leasing and a quit claim deed by one in Calif but from her to her trust. My documents of which there are 36 clearly show a line of inheritance to my mother and then myself and my brother (mother deceased.) every one certified and on file with the Logan county clerk. How do I even start to make a claim of ownership–when it seems so already obvious to me?
Thanks Don but my pieces are just recently leased and not even a well on them yet.
Is the lease payment the same or different from the drilling bonus?
http://www.ok.nrcs.usda.gov/technical/GIS/CountyBaseMaps/CountyBase…
a map of logan co
Virginia,
Just the information I needed. I have a small piece over in 30, 17N, 4W that I just leased and I forgot to ask the Landman what the Lot 3 in the description meant
Larry & Harley:
I also have a small mineral interest in Logan Co. sec 33, 18N-4W 8 tracts and sec 4 17N-4W 2 tracts of the currently producing NW Crescent WF unit. I receive a very small check a couple of times each year for oil production. I guess I have two questions that possibly one of you or Ron McKenzie could answer. First does this mean that mean that my minerals are “held by production” by SUNOCO Inc.? Next does that mean that Larry & Harleys should have been receiving checks from SUNOCO? If so I can tell them how we finally received substantial monies back in 2006 from the Okla. Unclaimed property division. This lease number is
0137270100.
Looks like theyre getting things in order to start drilling?
Thank you for the informaiton Harley.
Also @ Ilikehunt I am rec. offers for 2000-2500 per acre for them to purchase my rights. Not sure that is a good offer after reading the information on the forum.
Military Pup,
**I don’t know if this will help, but it’s the legal/oil & Gas terms from an old dictionary. Lets have changed in the pass few years, so this is very general. ** I have never heard of a drilling bonus. Could you be call a damage/pad contract a drilling bonus?
BONUS - Usually, the bonus is the money paid by the lessee for the execution of an oil and gas lease by the landowner. Another form is called an oil or royalty bonus. This may be in the form of an overriding royalty reserved to the landowner in addition to the usual one-eighth royalty.
ROYALTY, LANDOWNER’S - A share of gross production of oil and gas, free of all costs of production. Occasionally, the term is used to describe an interest in production created by the landowner outside the lease and distinguished from the conventional lessor’s royalty. In this case the landowner’s royalty, outside of the lease, may have any specified duration. In general usage, landowner’s and lessor’s royalty are synonymous.
Marlo,
Now as far as selling your minerals, $2500 is about avg in the area. But, remember people don’t buy minerals unless they hope to get it paid for in a couple years or less. So unless you need the money, you will probably make more in the future.
Harley,
You did a good job of describing the section, etc. One more thing we may add just in case someone’s property is near a county line or correction line. Sometimes their isn’t 160A to a quarter of section. It may say, lots 2 & 3 and s 1/2 of 1-1N-1W, co name. This property may only have 156 A or even less and the oil company will only pay on the amount to total acres.
Somebody was wondering the other day about production numbers. Notice this article and the Burrow 2H well in Gonzales County Texas. 4,646 BOPD, 4,988 MCFD and 798 BNGD. That is a bunch!
http://eaglefordshale.com/news/marathon-eagle-ford-production-grows…
Don,
You ask if your lease could be held. These are a few question you need to check on. Does your lease have a Pugh Clauses? Is the well in paying quantities? Next, Is it being held by pooled water flood? But, does you water flood cover all the property and is other wells on the lease? You need to check and see how much of your lease is being held by water flood and you still may be able to get the part not being held released. You would need to get a good Oil & Gas attorney to help you on this.
Ronald,
You stated how much more oil reserve will be found in the future and we will see 20,000 BBD wells maybe in Oklahoma. I would like to point out how far we have already gone. Horizontal drilling was first tried in the 1930 and Hydraulic fracturing was first tried in the 40s. Now, Devon has been active in the Cana Woodford shale in western Oklahoma and has the deepest well and one of the longest on shore horizontal well, more than 10,000 feet. So, in another 10 years or more, we will see wells at 20,000 BB per day. So, keep dreaming, it’s dreams that change the world.
A bonus per acre for the execution and delivery of an oil and gas lease is customary. Meaning it doesn’t always happen, but usually. It’s usually called the lease bonus. It could be called a lease payment. To me the royalty payment from oil/gas produced would be what I would call a lease payment, but to each their own, as long as we can figure out what people are talking about.