My mother received a letter from a company named Black Oak asking to purchase my father’s mineral rights. We had no idea he had any and aren’t really sure of what to do. I contacted an attorney who has assisted in negotiating, however, I am not sure that is that selling is the right thing to do. It has been 45 years since the purchase. We recently received another notice to sell as well as an order to drill on property that my grandmother owns. I have anxiety over the “quick” payout as I am not sure if that is the smart thing to do. Does anyone know what is going on in McClain county that would spark interest in the acres? The section is 34, township 7 North, range 4 West. Any help is greatly appreciated! Thank you
First thing you need to do is get the title on the mineral rights straight. The attorney should be able to do that quickly.
Two companies have filed for horizontal wells in 34-7N-4W. That is why you are getting the offers. If you do not need to sell, then totally ignore the offers. Given that the section to the south of you has multiple horizontal wells, hanging onto your acreage might be a really good idea. “Quick payout” is not the smart thing to do until you really understand what you have. Common pushy sales technique. Go online and also check the Oklahoma Treasury office unclaimed funds and see if he has unclaimed funds waiting from any other properties.
I think I saw an answer to this section already. The Kroix #1H-34 has already spud. There may be quite a few wells coming in this section. I would not sell.
Use the magnifying glass at the top and query on 34-7N-4W