I should explain - my sisters and I own 13.33 acres of the mineral rights. The property was sold.
My sisters and I own a total of 13.33 acres. Thanks for the info!
OCC shows frequent drilling permits for the lower half of 22N 03E in Noble County recently. Wonder why it’s not reflected here?? Sure would like to learn a little about that area.
Ron, What is your experience in oil leasing? Do you own oil leases yourself? Also, how can we find out much they’re getting per acre for the lease on the property close to ours, on Section 23?
Ron, It’s so good of you to share all of your knowledge!
Third generation oil & gas, training 4th. Have minerals in several counties. Check your mail at top right of this page, accept friend request and I will give you my number in Edmond and will try to answer your questions. I type about ten words a minute.
Cynthia,
Devon is drilling a well on the Red Rock road by Highway 77 and it looks like it’s going to be a very good well. I have property about 1 mile south of this area and 2 years ago the leases were going for about $200 with 3/16, now it’s about 3 times that much. I don’t use any attorney in Noble County, even though there is a good one, but he mostly does probates/estate. I only use oil and gas attorneys in Oklahoma City. I see Devon is spacing the land next to yours, so you may want to give them a call if you are in a hurry to lease and ask for at least $600 per acre with 3/16. Or wait till they hit a well and then ask more. But, if the well isn’t any good, the price will go down.
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Cynthia,
If you will email me, I will give you a couple of names of oil & gas attorneys in OK City that I use. They are great. I can’t figure this friend thing out on this site either.
I know what it is like to live out of state as we live in TX, but we do make it to the farm a lot since we retired. Plus I have some great renters and friends in the area that help me with information.
I know that several oil companies have contacted the city council looking for houses to rent, buildings to make into offices, etc. So, if it rains and they get some water, I think drilling will increase in the fall. If Oklahoma doesn’t burn up first.
Virginia
Virginia, thanks for all the info. Sounds encouraging! If things progress, I would appreciate it if you would share the name of your attorney in Oklahoma City. Our whole family is in California, so it’s not easy to get recommendations. I’m not sure how to add you as a friend, so I can privately email you.
Ron, thanks for the copies of the leases. You have been great!
I don’t know much about the oil business but I do live in the area if anyone needs any “eyes on the ground” info about their properties. I have some family interest in the Devon well on Section 23, Township 21N, Range 1E. They have just finished fracking and the only info I am getting at the moment is gossip. It’s good gossip but helps to know hard information.
Gayla,
Once they get it online and start producing it, you can get on OCC site and find information about it. Then you can call and get the purchaser number and find out how much oil was sold each month. Remember, they have to pay you within 6 months from the first sale of oil or you can ask for interest.
Virginia,
Thanks for the information. We shall see how it goes.
Not sure if I am now a member of this website yet but will try sending a comment anyway. I am a part owner of a parcel of land in Section 23 and would like to know about production rates of surrounding sections and about drilling activity around Section 23. Have received an offer for mineral rights and don’t know if it would be feasible to sign or not. Any help would be nice.
What about west or east?
2 west
I will see what I can find. Is your offer to buy or lease?
Yes, we own surface also. What do you mean force pool?
At some point an oil company that had an interest under your Section could go to the Corp. Comm. and make you lease or take a working interest in the well, and pay your share of the cost of drilling. This is forced pooled.
23-? N-? E or W 23 what Township ?