I almost want to say “thanks for the memories” as I don’t read this much anymore but wondering why I’ve been offered $14,000 per acre when nothing is going on in Section 5 (5-5-6) and these other offers are lower… puzzling. We’re not selling even though. Yea, don’t accept low offers… once it’s gone, it’s gone.
Several sections very close to you have multiple wells, so maybe the buyer types are hearing news that isn’t public yet about future wells in your area.
Does someone know about the Elmer well in Section 3, Township 8N, Range 7W? I heard it’s been in production since November, also with my Section 34, Township 9N, Range 7W.
First sales were November 1, 2018. You will probably not hear anything until March or April.
Thank you so much for your reply. I’m just really new to this and just wondering if this well looked promising. Thanks again.
Ha, right on… Very cool to see somebody take the time to give a thorough and logical answer. Tip of the hat.
We have been offered $2,000 an acre to lease at 1/8th, $1,500 at 3/16th, and $1,250 for 1/4 from Turner Oil and Gas on behalf of Continental. Blue Chip Energy Partners offered $2,750 for 1/8th, $2,200 for 3/16th, and $1,750 for 1/4 in Section 2, Township 9N, Range 8W in Grady County. Do these seem like reasonable offers for this section?
Thank you.
Can anyone tell me about the following section in Grady?
'Section 1, Township 8 North, Range 6 West- 7.50 Net Acres
Moved your question to a new topic in Grady.
We got $3,850 and 3/16 in Section 4 almost a year ago from Prairie.
Sheryleb,
Did you have any luck? We have some property in that area, and I too could use some help. Pretty please 
Thanks that’s very helpful! Can you, or anyone, tell me if you know of any Landmen in that area?
Thanks! Do you know of any Landmen in that area, as we have properties in Bryan County as well.
We signed a lease with Blue Chip Energy in Section 2 Township 9 North Range 7 West last week and received a relief request from Continental in the mail today. This will not affect our current lease offer since it’s not official yet because they are still doing title work, correct? Turner had been trying to lease us on behalf of Continental but wouldn’t budge on numbers until after we got another offer, then tried to pull top lease on us but luckily we had no official offer until after the lease expired. Then we received the relief request, so thought Turner and Continental were trying to lock us in on their lease terms. Is this the deal or nothing to worry about?
If you signed a lease and turned it over to Blue Chip, then they will hold the lease if they file it at the courthouse. (Hopefully, you didn’t turn it over without getting paid.) Blue Chip will either flip it or they are leasing for another group that wants a piece of the well. Continental will most likely be the operator of the well and has to abide by the terms of the lease no matter who holds it.
They are still verifying the title work, they said 15 to 30 days. We will get paid once title is verified; this is how all our leases over the years were done. I’ve never had anyone pay prior to verifying. Is that something they can do? Thanks.
Encourage you to read the comments by Richard Winblad regarding the trouble with turning over a lease without getting paid. Search his name with the magnifying glass above.
I never turn over a lease without getting paid unless I know the landman and have had perfect results in the past. The way to get around it is to have a third party such as an accountant, attorney or bank hold the signed lease and not turning it over until the check arrives. I also have a cover letter that says if the check does not arrive within the mandated time frame, the lease will be returned to me and destroyed and negotiations will begin again. There are too many instances of leases being filed with no payment being tendered. Causes legal issues.
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That’s great information, and much appreciated! My family’s been leasing in these areas for many years; we’re currently looking to sell these properties.
Given all the activity in 9N-6W, you might want to reconsider selling. A lot of infill drilling pending with permits already filed or cases at the OCC. Depends on the section, but don’t be in a hurry as you may get lowball bids.
Hi,
I really appreciate your expertise and knowledge. That being said, how would one know if it’s a “low ball”? I’m thinking along the idea of 3-4 proposals?
Again, thanks,
David Fournier