I am trying to get educated on some mineral rights I have. I was awarded
an undivided 10/100ths interest in and to the oil, gas, and other minerals and mineral rights in and under and that may be produced from the SE 1/4 NE 1/4 SW1/4 and E1/2 SE1/4 SW1/4 and W1/2 NW1/4 SE1/4 and SW1/4 SE1/4 and Northwest 10 acres of Lot 17, all in Section 30, Township 6 North, Range 1 West, McClain County, Oklahoma, and
An undivided 1/4 interest in and to all the minerals and mineral rights in and under and that may be produced from the South half of Lot 15 and all of Lot 16, less that part of said lots lying West of the GC&SF Railway right-of-way, more particularly described in a deed to John A Bray recorded in Book 471 at Page 125 of the records of McClain County, Oklahoma, and W1/2 SE1/4 SW1/4 AND SW1/4 NE1/4 SW1/4 in Section 30, Township 6 North, Range 1 West, McClain County, Oklahoma, consisting of 65 acres more or less.
What does all this mean? I have had a couple letters requesting to lease. I do not know what is a reasonable offer. Any suggestions on whom I might contact to get the best price? Is it better to lease vs sell?
Any help is appreciated.
My suggestion, for starters, is to listen to the series of videos the National Assn. of Royalty Owners has on UTube. They've been producing about one video per week & have recorded at least a half dozen.
I have leased a lot of minerals but have never sold any.
As respects a reasonable lease offer, go back to the McClain County board and read mineral owners' posts. If there are no recent posts regarding lease terms in your area just list your legal description and ask. Mineral Rights Forum folks are very helpful, Jennifer.
I am the director of Exploration as Swan Resources, we drill McClain county heavily. I can tell you there is a lot of interest in your minerals right now due to some horizontal drilling in the immediate are and more to come. You have a small interest, your best bet will wait until you get pooled at which time the operator will have to offer you the best terms he has given in the are and you might even get better terms from a third party.
If you would like to have any questions answered, please give me a call
I agree with John. It does not sound like you have a ton of acreage, and to accurately figure out what you do have I would need to see the deeds. If you have 10/100ths your land has been split a number of times so each time it is split the total obviously goes down.
I have been looking for additional property in McClain Co. and would be interested in talking to you about yours if you would like, I will send you a friend request and we can discuss it further.