Northern pottawatomie county, southern Lincoln

are the many operating oil and gas wells around the area. Whats the best rate your getting for gas and oil leases? of course, I got a lease not signed from Universal Land Services in Tulsa, about Calyx energy wanting to drill. This is the only offer ive had........How can i get better offers, from other well producers..........????

this lease has mult offers: 250 per acre- 1/8 royalty, 200 per acre- 3/16th royalty, 100 per acre, 1/5th royalty.............

which is the better offer, and can i get other offers?????? thats better........

The different offers represent the different bonus prices they are willing to pay in order to get your lease. The best prices will come from the people who are going to drill the well, if you can figure that out.

The different bonus prices and the recommendation for which is best depends on your circumstances but basically, do you want more up front money and less royalty later, or less up front money and more royalty later.

One factor is how many acres do you own?

Another factor is when was the last time this section was drilled. And was that successful. If it was a long time ago and there have never been successful wells in the section, then more bonus and shorter lease term on the premise that they won't get a well drilled in time before the lease expires and they have to lease you again.

Need Section Township and Range to answer some of those questions.

Good luck.

Which is the better offer ? If there is no oil under you the 1/8th and $250 per acre would be the correct choice because both 1/8th and 1/5th royalty of nothing is nothing. If there is a fair amount of oil under you, I would want $0 and 25% to 30% because the money is in the ground. The question now, is there oil under you? This you need to find out as best you can through research.

Matthew…Calyx is the ones drilling…so, is this paper from Universal land services, im guesing it is. they prob want a share of it also…somehow…ive been reading alot on it… 160 acres plot or the actual acres i think…is the acres…section 23-12N-3E…lincoln county… according to the okla commission stats…2011 completions in Lincoln, Pottawatomie, and Oklahoma counties. None has been Dry. Hitting Oil and gas… im now looking on OCCOG, Oklahoma corporation commision-oil and gas info. about the wells in lincoln county. Most are active and producing…it seems…

Just looked at your deed. Yes you have 80 acres that you own with two others. @261/3 net mineral acres each.

Calyx Energy is Leasing.

Reagan Resources is leasing.

Take your current offer Reagan Resources and ask them to beat it.

Then repeat that process with Calyx.

Make sure you get a depth clause. Also called a Pugh (Pew) clause. This says that all lands not producing after the primary term are not leased and you ahve the ability to lease those landss again someday or to someone else who wnats to drill a deeper well to a different formation not reached during the primary term of your lease.

Make sure you get a Gross Proceeds Lease.

You have to read the fine print to be sure that it truly is a Gross Proceeds lease. In other words no post production expenses are to be assessed to your royalty payments.

Ask for the shortest term possible. 2 years if you can get it. They will want you to sign for a 5 year lease. 3 Years with a Two year extension is acceptable as long as they pay bonus again if the three years comes up without a well.

Don't sign the Warranty clause unless you are certain that you own the mineral interst they are leasing.

Good Luck.

that was alot of infomation Matthew, thats awesome, Whats the best way to get a hold of Reagan leasing, phone, person to person? I work in Tulsa, live in CLaremore… Depth clause. It has the depth on the well proposal, vert at 5,100, and total of 9,500 feet or horizontally test the woodform formation. Is that a clause??? whats my bargaining? did look up all of 2011 completed wells, through okla corporation commission, and the area, lincoln, oklahoha, and pottawatomie, there were 83 wells drilled, and none of the were dry…

what does the Gross proceeds lease do?

Gross proceeds means you will be paid based on what they pull out of the ground before marketing expenses.

I don't have contact information for Reagan Leasing, I would look them up via google search.

The important information re: wells drilled in Lincoln county is not how many, but where. How many were drilled near you.

The depth clause that you want is only however deep they drill during the primary term. They may only drill to 5100 during first three years. In which case you would get to lease the 9500 level again to someone else.

If I were leasing, I would want high bonus and minimum of a 3/16th royalty. You can ask for a favored nations clause which means if they pay anyone else a higher bonus, they have to come back and pay you the same bonus.

Ask the landman asking for the lease, when he thinks the well will get drilled.

Ask the land man about wells in neighboring sections, how good they are, how deep they are and how much they are producing.

matthew, i checked on the OCCOG web page, typed in section 23, 12N, and some wells popped up that were producing. that must be close to the land…Oil and gas… i did look up Reagan resources…i can contact the leasing manager strait through email… high bonus, meaning, what…200 per acre, 3/16th??? i have a phone number to, well, seems to both Calyx, and universal land services…

also, in the lease proposel, it says that calyx will proceed with applications for the drilling of this well, including pooling and spacing at the oklahoma corporation commission…does this mean they are already started the process??

Depends on if you are in the correct Range.


The 12 and 3 Represent a 6 square mile area with 36 sections in it.

Each Section is one square mile with 640 acres in it.

Section 23 is 3 miles to the South from Section 2 and 4 miles the East of Section 19 but only one mile away from Section 13, 14, 15, 22, 27, 26, 25 and 24. What wells are producing in those sections and how good are they. Those sections are far more impt than what might be happening in Range 4E.

Universal is probably Calyx's leasing agent.

Try to get $300.00 per acre and a 3/16th.

so, how should i represent it to reagan leasing?

The deed you looked up. Whos names were on there, what deed was it? My mom willed it to me and sister and brother, but they say his name isnt on there. only my mom, and her brothers wife is still alive. How do we know if other kids name arent on the list?

Should I E-mail them, asking if they have an interest in drilling on it. How should I ask? What do I ask?

Tell Reagan REsources the offer you have received and ask if they would like to make a better offer.

grady garrett said:

so, how should i represent it to reagan leasing?

Reagan Resources is probably not a driller and is just a leasing company. I don't know that for a fact, just guessing. If they leased you, they would assign their lease to Calyx which is why Calyx should be able to offer the best deal for you.

grady garrett said:

Should I E-mail them, asking if they have an interest in drilling on it. How should I ask? What do I ask?

are you saying, I should ask Calyn directly? leave the middle man out of this??

Clyde, Grady, and Brenda.

October 2012 deed.

grady garrett said:

The deed you looked up. Whos names were on there, what deed was it? My mom willed it to me and sister and brother, but they say his name isnt on there. only my mom, and her brothers wife is still alive. How do we know if other kids name arent on the list?

Matthew, thank you so much for taking your time to deal with me, someone who dont know much, but willing to learn. You are very knowledgeable. I appreciated it so very much…

ok, thats me and my siblings…