Section 10 Carter County–I have some minerals in this section and have been receiving offers to buy or lease. There is a proposed well to be drilled sometime after the Corporation Commission, and any other concerned courts finally settle the current disagreements including which drilling company will do the well. Can anyone that knows anything on this area please tell me recommended lease offer amounts to consider? Thanks very much
There are many section 10s in Carter County. You need to give the full township, range and section to get help on the forum.
I’m wondering about the potential drilling that’s causing all the paperwork a lot of people are receiving on legal hearings involving minerals on and around Sections 10-3S-1E and 15-3S-1E.
Thank You
The Cases themselves tell the story. Look especially at the Multi-unit horizontal cases exhbits to see where the pending horizontals are planned to be. Sycamore, Caney Woodford reservoirs.
Mineral owners in the sections are likely to get lease offers from various companies. You can either lease or wait for forced pooling. Pros and cons to each. If you are new to leasing, recommend that you get a good oil and gas attorney to review any draft lease as they are rarely in the favor of the mineral owner. Most savvy mineral owners would want the highest royalty because the revenue from one or more horizontal wells over decades will far outweigh a one time bonus for a lower royalty.
Our family owns 116 nma in Carter county. We have not received any lease offers lately but would you give clarification of how pooling might work. I assume it depends on which direction the proposed horizontal well will be drilled regardless of the particular section unless that section is within a pooling order. How far out laterally from the drilled well does the pooling reach . Is it always 640 acres or depend on the length of the drilled well? Some have indicated to us that there is an advantage to owning a contiguous 116 nma. Thanks so much.
We hold in S1-2S-3W and are being offered 1/4 royalty with a $500 per acre lease. This is significantly less than a few years ago when it was almost $3,000 per acre at 3/16.
1/4 and $500.00 is better than 3/16th and $3000.00.
They were only offering $750 for 3/16.
Pooling in OK is usually for 640 acres although there can be an oddball here and there. Many horizontal wells are two or more sections, but the pooling is usually at 640 for each section.
The offer for a 1/4th is a good royalty percentage. The clauses in the lease are more important, so wise to get good legal advice before signing the draft as they are rarely in the mineral owner’s favor.
Yes, learned that from attending the OKC NARO convention along with other useful information. I would encourage all to join and attend one of these as time permits!