New Offer on Sec 1 18N25W

It’s been 3 months since you all gave me advice. I now have been offered $3,000/nma for my acreage in Ellis county, Sec 1-18N-25W by Castlerock Resources . He said it ‘s a little east for him but he may increase the offer. It’s a $1,000 more an acre than in June. Any more advice will be appreciated. Thanks

John: The royalty on your current lease is important when trying to determine what is a “good” offer. Also, the number of acres can play a difference too.

It appears that Mewborne Oil is slowly working its way towards your section with wells 4 mils to the south & east, but there are no guarantees in the oil & gas business. In essence, the offer is for future production that may or may not happen. Buying and selling minerals is all about financial risk management.

Good Luck.

Thanks Todd. My lease is a 25% royalty and it is with Castlerock. I executed it with them on 1/24/12. I don’t think they ever drilled a well as I never received anything so if not the lease would have expired. Is there a way to check on this to see if there is a well. I know I sound a little naive on this but I just can’t recall if I ever received any royalties on it.

EOG drilled the Parker 1-1H in 2012 in 1-18N-25W. If you have not received royalties, then you should contact them and see why not. The well is still online.

Ok thank you for your input.

https://imaging.occ.ok.gov/OG/Well%20Records/1DD08AA3.pdf Completion report - EOG address included.

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Mewbourne just filed cases for another well in section 1 & 36 to the north. That is why you are getting the offer. If you sell and are owed royalties, the buyer will get them. Plus any new royalties for the new well. Is your name and address on file in Ellis county courthouse?

Wow thank you very much.

Thank you for your input as usual you are very helpful. I inquired about the Parker well and this is what was emailed to me: You must not have received by prior email to you from 07/07/2021 regarding this matter.

I’m sorry to be the bearer of bad news, but according to EOG’s records, you do not own a mineral interest in the lands. The reason being is outlined below, but in summary, because you would have been a successor to H.D. Flemming, the interest you would have otherwise succeeded was foreclosed upon back in 1935.

John J. Henry owned all of the surface and mineral interest in Tract 5. John J. Henry and Myrtle M. Henry, his wife, executed a mortgage dated January 4, 1926, recorded in Book 38, Page 288, to The Pittsburg Mortgage Investment Company, covering all of Tract 5. By Assignment of Mortgage dated October 25, 1926, The Pittsburg Mortgage Investment Company assigned this mortgage to Marian E. Stutterd. Then, by Mineral Deed dated February 15, 1929, and recorded in Book 19, Page 37, John J. Henry and Myrtle M. Henry, his wife, conveyed a one-half (1/2) mineral interest to H. D. Fleming. On December 18, 1935, Marian E. Stutterd recovered a judgment against John J. Henry and Myrtle M. Henry, his wife, and against all of the successors to H. D. Fleming. The court found that the mortgage had not been paid and awarded Marian E. Stutterd a judgment in the amount of $677.33. Under the terms of the Journal Entry, if the judgment was not paid within 6 months, then Tract 5 was ordered sold to satisfy the judgment. On July 28, 1936, pursuant to an Order of Sale, Tract 5 was sold to Marian E. Stutterd. By Sheriff’s Deed dated September 5, 1936, recorded in Book 37, Page 396, the Sheriff of Ellis County conveyed all of Tract 5 to Marian E. Stutterd. Thus, Marian E. Stutterd acquired all of the interest of John J. Henry, and all outstanding mineral interests as well. Therefore, Marian E. Stutterd was vested with all of the surface and minerals in Tract 5.

Thank you, Jon Johnstone Independent Landman Quest Exploration o/b/o EOG Resources, Inc

So looks like I lose out. I had another 8.5 nma near here and they told me the same thing. I was hoping this would not be affected. ):

So sorry to hear that news. A lot of families lost acreage in sheriff sales back in the day.

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