I live in Florida, and don’t get the opportunity to come back to Oklahoma very often. I have Mineral Rights in McClain county. S-12, T-5N, R-1W.
A couple of years ago I signed a 3 year lease no extension with Charter Oaks. I received noticed that the lease had been assigned (purchased?) by BP.
This property is a short distance east of Wayne. An old farm my grandparents owned.
This is the third time I have leased the property, and as I’m sure most of you agree, I’m anxious to see them drill on the lease.
Does anyone know what activity is occurring in that area?
I am assuming something is happening, or about to happen in that area as I have received two purchase offers in the last two years. One about a year ago for $1500 per acre, and a second one recently for $3000 per acre.
I am not really interested in selling at that level, but it’s encouraging that the price is increasing that much in a year.
Does anyone know what if anything BP has planned for that area?