10N-11W is in Caddo County, not Canadian. I do not see any horizontal well in section 8 yet, but they are moving that direction with leasing.
2 Likes
They basically desire to purchase your mineral at less than 10% of future value because the operator will drill more wells they hope a nice check you will take it. If this is your first property will production you get 3-4 offers from different people every month these people will purchase all the minerals they can get some unknowledgeable person to sell but if you did sell in some state you can carry them to court within two years and cancel the sell
3 Likes
Make sure you tell your children who will receive the minerals when you die never sell the minerals
3 Likes
Answered your question in your other post.
I am still new to this whole thing about owning mineral rights but have learned alot from this great community. Although I still have a lot to learn. The mineral rights I own are in 20-08N-10W. From the paperwork I received they’re drilling 2 horizontal wells. Is that correct? I have been receiving some buy and many lease offers over the last 2-3 months including Melbourne and Cotera who I believe are the end operators. I have received options with different cash bonuses all over the place and royalty interests ranging from 1/8 upto 1/4. Definitely going with the highest 1/4 royalty. I’m just not sure if $800 cash bonus per NMA for 1/4 royalty is low or a fair offer. What are others are being offered for this area??? Also, I believe there was a pooling hearing 12/22 but can’t seem to find any info on it and what was determined. Any hearing info and additional and addition ifno as to what happens next is appreciated. From what I’ve read, does a pooling order come next after the hearing? If so, how long does that take to be issued? Is that when the 20 day countdown starts to make a decision or be forced pooled? Should I wait for the order or should I sign a lease before then. I will definitely have the lease reviewed by a lawyer before signing anything to make sure all the necessary lease clauses are there. Thanks again for any advice!
See above, Forgot to mention they’re in Caddo County, Oklahoma.
Not sure what you meant by changing the NMA. You cannot change the NMA (net mineral acres), can only lease or pool what is actually owned.
The bonus amounts offered at pooling will be market competitive to what has been offered in the section of interest and the eight contiguous sections within the last year. What you quoted above may not pertain to this township and these sections.