I work for a nonprofit that owns some mineral rights in various parts of Oklahoma. We recently were contacted re:
SE/4 of Section 34-26N-8W, Grant County, OK – 120.00 net mineral acres
S/2 NW/4 of Section 3-25N-8W, Grant County, OK – 58.95 net mineral acres
We have been offered 3 year term, 3/16ths royalty, $300 per acre bonus. Can anyone tell me if these are good terms for these sections in Grant County? The landman said he did not know the type of drilling being planned.
Hi Kelly,
I am right by Grant County and had heard a few months back about the leasing and drilling that was going to be coming from Sandridge and others. Who is offering to lease from you? That is probably the best you'll get on terms, you might counter for $350 but they are offering fair terms.
Thanks for the reply Tim. The contact I have so far is from Canyon Land from Edmond. Do you know what kind of drilling they’re doing in that area?
Tim Metz said:
Hi Kelly,
I am right by Grant County and had heard a few months back about the leasing and drilling that was going to be coming from Sandridge and others. Who is offering to lease from you? That is probably the best you'll get on terms, you might counter for $350 but they are offering fair terms.
They will be drilling vertical mainly but also some horizontal wells in the county if that is what you meant about what kind of drilling. I worked on rigs back in the 80’s when they last came into the county drilling and have recently looked at all the wells in the county when some minerals were offered up for sale, it never seemed like they produced very good but are more oil than gas. I hope they drill your organization some strong wells.
Hi, Kelly, I am a Certified Petroleum Landman and would be happy to discuss your lease offer with you. I can be reached at 918-625-7355.
Try Chris Brummett at Sunwest Energy in OKC 405-420-6840.
Does anyone have any information on what leases are going for in Section 6, Township 26N, Range 8W in Grant County, OK?