Sec 1-10N-9W

#1

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?

#2

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.

#3

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!

#4

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

#5

You should have some by the end of June.

#6

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.