I received an offer to sell our minerals in Section 19-6N-4W for $7,200/nma with 1/4 royalty held by production from Dry Creek. We have about 10 nma. Any opinions?
Not surprised. Ovintiv has an increased density case to drill an additional horizontal well in the Mississippian. They also have a case to drill two more horizontal Woodford wells. Lots of offers go out when increased density orders are filed. Check your offer. Did they say net royalty acre or net mineral acre-important to the amount you might receive. They want your royalties from the new wells.
Isn’t Casillas the operator of that section?
Who’s the buyer? I have mins here as well but have not received any offers unfortunately.
Yes, Casillas is the operator of the Stella 1-19-18 MXH current horizontal well, but sometimes the other working interest owners want additional drilling done and will force the issue. Sometimes they will let the current operator continue and sometimes, they take over.
We own some minerals in the Stella unit as well. We have not been contacted by Dry Creek. Ms. Barnes is correct about the increased density filings. I would suggest you ask them for a eval that includes the value they are assigning for the new wells.
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