# Questions about drilling or oil & gas leasing
**URL:** https://www.mineralrightsforum.com/t/questions-about-drilling-or-oil-gas-leasing/69380
**Category:** Grady County, OK
**Created:** [January 15, 2023, 9:25pm UTC](https://www.mineralrightsforum.com/t/questions-about-drilling-or-oil-gas-leasing/69380 "2023-01-15T21:25:36Z")
**Posts on this page:** 20
**Page:** 1
### Author:  [@francis6](https://www.mineralrightsforum.com/u/francis6)
#### Post date: [January 15, 2023, 9:25pm UTC](https://www.mineralrightsforum.com/t/questions-about-drilling-or-oil-gas-leasing/69380/1 "2023-01-15T21:25:36Z")
Does anyone know anything about these sections? Sections 20, 29, and 32. All 6N6W. Appreciate your time.
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### Author:  [@M\_Barnes](https://www.mineralrightsforum.com/u/M_Barnes)
#### Post date: [January 15, 2023, 11:14pm UTC](https://www.mineralrightsforum.com/t/questions-about-drilling-or-oil-gas-leasing/69380/2 "2023-01-15T23:14:03Z")
Could you please me more specific about your questions. Do you want to know about leasing, production or what else? At the moment, your question is too generic and our answers may not be targeted or helpful.
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### Author:  [@dbhoneyman](https://www.mineralrightsforum.com/u/dbhoneyman)
#### Post date: [February 17, 2023, 5:43pm UTC](https://www.mineralrightsforum.com/t/questions-about-drilling-or-oil-gas-leasing/69380/3 "2023-02-17T17:43:58Z")
CONTINENTAL RESOURCES INC Horizontal Woodford Wells in 32 and to the north of 20 and 29.
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### Author:  [@Don\_Bray](https://www.mineralrightsforum.com/u/Don_Bray)
#### Post date: [February 18, 2023, 3:35pm UTC](https://www.mineralrightsforum.com/t/questions-about-drilling-or-oil-gas-leasing/69380/4 "2023-02-18T15:35:46Z")
Continental applied for and was given a Permit to Drill the LEONA FAYE 2-20-29-32XHS
[https://imaging.occ.ok.gov/OG/Well%20Records/1DDDC4C2.pdf](https://imaging.occ.ok.gov/OG/Well%20Records/1DDDC4C2.pdf)
Edit: Continental now has permits for 2 wells covering those sections.
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### Author:  [@Don\_Bray](https://www.mineralrightsforum.com/u/Don_Bray)
#### Post date: [February 18, 2023, 8:43pm UTC](https://www.mineralrightsforum.com/t/questions-about-drilling-or-oil-gas-leasing/69380/5 "2023-02-18T20:43:52Z")
Looks like they are getting ready… there was a small rig there a couple of days ago, but it is gone now.
Edit: Location for the LEONA FAYE 1-20-29-32XHS… the LEONA FAYE 2-20-29-32XHS will be further east.
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### Author:  [@Don\_Bray](https://www.mineralrightsforum.com/u/Don_Bray)
#### Post date: [February 27, 2023, 8:12pm UTC](https://www.mineralrightsforum.com/t/questions-about-drilling-or-oil-gas-leasing/69380/6 "2023-02-27T20:12:29Z")
Not sure what is going on now… location is empty of all equipment.
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### Author:  [@francis6](https://www.mineralrightsforum.com/u/francis6)
#### Post date: [March 4, 2023, 5:37pm UTC](https://www.mineralrightsforum.com/t/questions-about-drilling-or-oil-gas-leasing/69380/7 "2023-03-04T17:37:16Z")
Have any idea what price minerals are priced at for sale/NMA for this well?
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### Author:  [@Don\_Bray](https://www.mineralrightsforum.com/u/Don_Bray)
#### Post date: [March 5, 2023, 3:13am UTC](https://www.mineralrightsforum.com/t/questions-about-drilling-or-oil-gas-leasing/69380/8 "2023-03-05T03:13:52Z")
The number of acres being bought and sold are not easily identified. You have to go back a few years to find any significant sale amounts (Sections 20, 29, 32-6N-6W)… $100,000 plus. Some nearby minerals (few miles NW of Section 20-6N-6W) sold for $12,000/acre back in the summer.
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### Author:  [@francis6](https://www.mineralrightsforum.com/u/francis6)
#### Post date: [March 9, 2023, 5:00pm UTC](https://www.mineralrightsforum.com/t/questions-about-drilling-or-oil-gas-leasing/69380/9 "2023-03-09T17:00:08Z")
Could you clarify your comment about Section 20, 29, 32 6N-6W. $100,000 plus? Are you saying $100,000 per mineral acre???
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### Author:  [@TODD\_M\_Baker](https://www.mineralrightsforum.com/u/TODD_M_Baker)
#### Post date: [March 9, 2023, 6:07pm UTC](https://www.mineralrightsforum.com/t/questions-about-drilling-or-oil-gas-leasing/69380/10 "2023-03-09T18:07:18Z")
The documentary stamps reflect a sales price of $100k. No idea how many acres.
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### Author:  [@francis6](https://www.mineralrightsforum.com/u/francis6)
#### Post date: [March 10, 2023, 1:10am UTC](https://www.mineralrightsforum.com/t/questions-about-drilling-or-oil-gas-leasing/69380/11 "2023-03-10T01:10:58Z")
I thought that was too good to be true… Would you entertain $15k NMA for Section 19-6-N-6W?
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### Author:  [@francis6](https://www.mineralrightsforum.com/u/francis6)
#### Post date: [March 10, 2023, 2:58am UTC](https://www.mineralrightsforum.com/t/questions-about-drilling-or-oil-gas-leasing/69380/12 "2023-03-10T02:58:40Z")
I read on this forum you could take the doc stamp, divide by 1.5, then multiply by 1,000 to determine the total sale transaction. With that number, divide by number of acres. Is that correct?
I did this calculation, knowing the acreage sold, and it was spot on.
So, if you are saying there is a doc fee at $100,000, that is quite a large NMA…
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### Author:  [@Don\_Bray](https://www.mineralrightsforum.com/u/Don_Bray)
#### Post date: [March 17, 2023, 7:29pm UTC](https://www.mineralrightsforum.com/t/questions-about-drilling-or-oil-gas-leasing/69380/13 "2023-03-17T19:29:32Z")
Equipment back on location… 3 mobile home trailers, crane and other equipment.
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### Author:  [@dbhoneyman](https://www.mineralrightsforum.com/u/dbhoneyman)
#### Post date: [March 17, 2023, 9:58pm UTC](https://www.mineralrightsforum.com/t/questions-about-drilling-or-oil-gas-leasing/69380/14 "2023-03-17T21:58:12Z")
Small rig for drill surface and setting surface pipe… probably.
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### Author:  [@Don\_Bray](https://www.mineralrightsforum.com/u/Don_Bray)
#### Post date: [March 18, 2023, 1:05am UTC](https://www.mineralrightsforum.com/t/questions-about-drilling-or-oil-gas-leasing/69380/15 "2023-03-18T01:05:49Z")
NOTIFICATION OF WELL SPUD filed yesterday has February 16, 2023 date for the LEONA FAYE 1-20-29-32XHS. A little bit of a delay before the big rig shows up.
Hope this gets the ball rolling on Continental’s applications next door in Sections 19, 18 and 7-6N-6W.
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### Author:  [@francis6](https://www.mineralrightsforum.com/u/francis6)
#### Post date: [March 18, 2023, 4:20pm UTC](https://www.mineralrightsforum.com/t/questions-about-drilling-or-oil-gas-leasing/69380/16 "2023-03-18T16:20:39Z")
Thanks for the info. I appreciate you keeping track.
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### Author:  [@francis6](https://www.mineralrightsforum.com/u/francis6)
#### Post date: [March 18, 2023, 4:35pm UTC](https://www.mineralrightsforum.com/t/questions-about-drilling-or-oil-gas-leasing/69380/17 "2023-03-18T16:35:25Z")
Could anyone clarify, the amount of doc stamp, divided by 1.5 x 1,000 determines total sale? So if doc stamp is $100,000, total sale would be 6,666,666. Assuming the number of acres is 50, the total sale 6,666,666 divided by 50 acres to achieve price per mineral acre. 1,333,333???
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### Author:  [@TODD\_M\_Baker](https://www.mineralrightsforum.com/u/TODD_M_Baker)
#### Post date: [March 18, 2023, 4:40pm UTC](https://www.mineralrightsforum.com/t/questions-about-drilling-or-oil-gas-leasing/69380/18 "2023-03-18T16:40:28Z")
Your calculations are correct. If you are trying to establish a “value,” remember the lease royalty is important. All minerals are not created equal.
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### Author:  [@francis6](https://www.mineralrightsforum.com/u/francis6)
#### Post date: [March 18, 2023, 4:54pm UTC](https://www.mineralrightsforum.com/t/questions-about-drilling-or-oil-gas-leasing/69380/19 "2023-03-18T16:54:08Z")
How would you calculate the lease royalty of 3/16 in this example?
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### Author:  [@TODD\_M\_Baker](https://www.mineralrightsforum.com/u/TODD_M_Baker)
#### Post date: [March 18, 2023, 5:13pm UTC](https://www.mineralrightsforum.com/t/questions-about-drilling-or-oil-gas-leasing/69380/20 "2023-03-18T17:13:55Z")
Theoretically, if all other things are equal, minerals on a 3/16ths lease are 50% more valuable than those leased on a 1/8th. But value is all subjective.
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