I was contacted by McDonald Land Services on behalf of Corterra Energy and United Land Company for Silver Creek Oil & Gas regarding my mineral interests in Sec. 2, T6N, R9E. has anyone had dealings with either of these companies. Their offers were:
McDonald: $175 per acre with 1/8 royalty; or $150 with 3/16; or $100 with 1/5
United: $310 per acre with 1/8 royalty; or $300 with 3/16; or $100 with 1/5.
Has anyone received different or other offers? In 2015 I was offered $350 per acre with 3/16 royalty by Continental Resources but they quit talking during negotiations for lease terms. I appreciate any and all information regarding this matter, thank you.
Virgil Barksdale
Virgil, United offered me $300 with 3/16 for 3 years in Sec. 2, T6N, R9E. I came back at $400 and we settled at $350.
Thanks for your response Robert. After talking with United I was able to get the $350 and now we are negotiating lease terms as their lease form is broad and ambiguous.
Additionally, under force pooling order an owner has 3 options. These options are based on greatest terms in area. If an owner makes no election they receive the highest bonus and lowest royalty.
Virgil - I'd give some of the elected officials around the Holdenville area a call and ask them what they think of Silver Creek before you sign.
Virgil, Have you had any luck with re-negotiating United's Lease? I received one for 14/7N/9E for $300,3/16,3 yrs. and like you stated, it is very broad and ambiguous.
Virgil, Have you had any luck with re-negotiating United's Lease? I received one for 14/7N/9E for $300,3/16,3 yrs. and like you stated, it is very broad and ambiguous.
Kirby I'm still negotiating with them regarding a no post-production cost clause also increasing shut-in royalty payment and term limit regarding shutting the well in continuous and aggregate. They did strike the warranty clause, added a depth clause and to negotiate bonus when executing option to extend primary term.
I agree with David. I have been told that they have torn up roads around the county and are difficult to deal with. Has anyone heard anything about Corterra's dealing?
Virgil and Kirby. I received a lease offer back in April in ref. to Sec11 7N 9E from United.First offer was $200 per acre for 3/16. I responded this was to low.The landman came back with $300. Then I received another letter from a different named landman also employed by United with an initial offer of $300 and 3/16,both men representing Silver Creek.I replied to both as to who was the landman representing Silver Creek and that the second landmans first offer was the same as the others increased offer. I assume the second offer could have been increased, but I have never heard back from either men. I also found the lease wording they were offering was very confusing.I have not proceeded with this any further as it seemed to much work on my end to figure things out. Now I also have acres in Sec14/7N/9E and was approached by Corterra back in March for $150 per acre and 3/16. I replied it was to low and never received a response Now I received a packet from the commission of a hearing back on May 16 for Corterra for horizontal drilling and spacing units on the 640 acres and I guess for pooling of those who have not signed leases. Then last week I received an OGL from Needham Energy Advisors for $450 per and 3/16 or $450 per and 1/5. They are representing Council Oak whom I have not heard of and Needham was not sure of any outcome with the commission hearing.Needham was also unsure of my amount of net acres. and said they would determine that if we could come to some kind of agreement to proceed.I think maybe they just got a hold of the ones listed on the commissions notice and perhaps just sent out some letters.Anyway I have not done anything with this yet and will give it more thought. Any comments or advise from anyone. Hughes Co. appears to be active Robert Blair
Hello Robert, the last offer I received from United was $300 per acre at 3/16 royalty, however I've not heard from them since sending them my clauses amending their lease agreement. My latest offer from McDonald on behalf of Corterra was $400 per acre and 3/16 royalty but we have not negotiated a lease agreement yet. Although I've been contacted by two different companies wanting to buy my mineral interests, I've not heard anything from Needham Energy. My interests are located in in Sec. 2 T6N R9E and Sec. 36 T7N R9E
Virgil--- I'm still sitting on the sideline with Needham.My error in my last correspondence. with you; Needhams 1/5 offer was at $350 not $450. With the pooling hearing and Needham not wanting to send me their written lease until I agree to show real interest in them,I'm just not in a hurry to do anything. I have also recently received two letters from companies wanting to buy my mineral interests As I stated before my interests are i Sections 11 and 14. Robert.