Quick question for everyone… I own some family land along with minerals in Oklahoma… I was contacted back in may about a lease… This is all new to me… Anyways I leased my 40 acres out, I had contacted the one other family member I have contact with that might have some of same minerals… I also gave land man info I had on other possible family members… Anyways others had thought older family members had possibly sold the minerals in this section… Well this week they were contacted about a lease with a separate company… How does this help or hurt us ??
If I were an operator I would drill where the seismic told me was best, if I had a choice between two spacings that were equal, I would drill the one that the leases were closest to expiration, after that I would choose by which spacing I had the largest leasehold in. If someone else held an interest in a spacing I am drilling I would try to convince them to assign their interest to me for cash and an overriding royalty. If the other interest holder does not want to assign their interest to me they can pay for their part of the well in participation and I would get a cheaper well. Just because two different companies hold leases in the same spacing does not mean it won't get drilled. I am under wells that have as many as 7 to 10 different interest holders, me included.
Thanks for info… Know interest is in area drill rigs around area with 1 completed about 4 miles away in last couple 3 or 4 months… Signed my lease about 8 months ago would like to see activity but also know its a waiting game also… I didn’t know if interest peak up with my company since someone else is leasing in same section or not now… Maybe I call my lease company and rattle a chain…
I forgot to mention that in Ok I would want to force pool people before someone else could come in and scoop up any unleased acres because if I couldn't get the leaseholder to assign them to me, I couldn't make money from the minerals produced and attributed to those acres that someone else participated in. I have also seen spacings where an operator was at risk of losing the spacing if more acres came up for lease and they weren't able to get new leases, the well got drilled pretty quick. Probably doesn't happen often but it does happen.