I have been reading through the different posts and learning a lot! Thanks to all for their time and info on this topic. My family has a mineral interest in Logan County, OK property. We were offered a lease with Altex shortly after settling my father-in-law's estate. Not knowing anything about it, we held off to get more info. When we came back to them, they had withdrawn the offer. Should I assume that they must have gotten 70% of the other holders and didn't need our share? That lease would have expired by now (3 years).
Is there activity going on in Section 25-17N-2W? Or, is there reason to think that this would be of interest to any companies at this time, given the recent drilling in the Logan area?
Any info to point us in the right direction would be appreciated. Thanks!
Thanks! I had heard that the farm next to our land had been pumping a lot; we are brand new to this so trying to get up to speed. Probably idealistic, but as a novice, it seems that if the next door neighbor is pumping successfully, the land we have might could support a well. If there have been any hearings, spacing issues, etc., we would be clueless. Is it smart to contact one of the companies above to see if there is interest, or is that not wise? Also, am I right to assume if the majority of rights holders sign with Altex, there's nothing we can really do with our shares ('we' being two family members with combined 1/3 interest)?