My family received a proposal to lease deep rights in 15N-25W. We do not have a copy of the current lease (HBP) so do not know if there is a depth clause. I have a couple questions if anyone can provide information. Thank you in advance.
Is there active drilling for deep rights in this area?
Is there any information on the going bonuses for this type of lease for 3/16? 1/5?
Can anyone recommend an attorney or mineral rights consultant in or who is knowledgeable about this type of leasing in Roger Mills County?
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You may be able to find the previous lease on www.okcountyrecords.com. You can also ask for a copy from your current operator. It is possible the current well was pooled, so ask the Division Order Analyst which one you are held under and get a copy.
Sounds like there may be a depth clause in the earlier lease or the pooling was for a shallower horizon.
VERY active leasing and pending horizontal drilling for a new Cherokee shale play in Roger Mills and in this township. Upland and Mewbourne are just a few of the operators drilling right now.
Most offers may start at 3/16ths, but it is better to try for 1/5th or 1/4 royalty as the royalty payout will be much better for a well and potential infill wells over the decades than a one time higher bonus at a lower royalty offer.
You can search the OK Bar association for qualified oil & gas attorneys with a specialty in oil and gas. May take a few calls to get someone with no conflict of interest. You can either lease or you can wait for pooling which has its own advantages.
If you read the forum carefully, you may be able to figure out the OK attorneys that post here. They are quite knowledgeable.
Contact Robert Stell at Bass Law in El Reno, OK.
Thank you! Appreciate the information.