Sec 1-10N-9W

I have mineral rights in Section 1-10N-9W in Caddo County. Lease with CIMERAX expired Nov. 2017 but I believe they recently drilled/completed a lateral well and the area is "pooled". I do not yet have info on the well. I have been receiving offers to buy the rights on a regular basis and just had a land man/company leave me a phone message with an opening offer to buy at $8,000 per acre. The opening offer prices to buy the rights have been going up as the area is getting a lot of play.

Anyone have any additional info?

Steve,

The DRIES 1H-0136X well was spud 8-13-2017 (API 3501523282)
The Production unit number (PUN) is ■■■■85-0-0000

It appears to have went into production in January selling 2213 barrels of oil. I don't see any reports from February. We don't know if that is a day of production or 30 days.

It would be interesting to see the calculation made by the buyer to arrive at his offer. I’m sure a knowledgeable buyer has access to the expected amount of barrels of oil equivalent (Boe) to be recovered, which is something a typical seller would not have. Knowledge is power as they say.

Good luck!

Thanks much for the info. Looks like we might be seeing some oil money in the future.

You should have some by the end of June.

Based on what I found on the Cimerax it looks like it was 2213 barrels of oil a day in January. No idea if that is a lot of oil per day or not.