I have mineral rights in section 7- 9N - 5W Grady County Tuttle area. It seems they are getting close to drilling as offers are coming more consistently and going up. I could use the money but don't want to make a mistake. Just wondering if any others are getting offers and have any news about this area?
Thanks
Make sure it is a lease and not a sale! That is the first thing.
Remember you have choices on your lease terms that if you wait to be pooled may not be there!
What is the amount of the offers? $ per acre at what royalty interest in any well. Seems 3/16 royalty is as common now as the old 1/8 royalty.
3/16 and offers started at $1500 8 mo. ago. Latest offer is $4500 per acre to buy not lease.
There is a horizontal well planned for your section. It was pooled in March of 2016, so I hope you are already leased or replied to the pooling on time. If I were you, I would hang on until the well is drilled and get the royalties from it and any future wells. If you live in AZ, then are are on the pooling list and they are trying to find you. Friend me on the icon above and I can send you the info.
I am new to this forum so I do not know how to friend you. My name is on the list provided in the "pooling list" so to speak and I had to update my address and then I don't understand the leasing part as these mineral rights were left to me and my sister when my dad died. There is a vertical well there that pays only $80 a year or so and I follow all of the court documents about spacing, etc that have been filed. We are getting offers to purchase the rights, not lease them. So that part confuses me as I am all new to this.
I just sent you a friend request to make it easy. Accept me. Then I can help walk you through it. Don't sell right now.
Hi. My sister, cousin and I own rights in section 31-7N-5W Grady County. We have been approached with an offer of $5,000 per net mineral acre on that section and $8,500 for section 1-6N-6W. Which I'm assuming is close to yours? We also are thinking about selling. We currently have a lease on some of the acreage. We are getting up in years and could use the money now. If we were younger we would definitely wait to see what happens with all the drilling that's supposed to start up.
I hope this info will be helpful. Good luck with your endeavors!
Hi,
Thanks for your reply. I am not sure how to read the legal description of locations but we must be close. Ours is about 2 miles east and a mile south of tuttle- or thats where our rights are in the section there. $4500 has been the highest so far. We are being told we should hang on for a while because these offers are generally half what they are worth as these guys making the offers flip them to others. Its pretty confusing I will tell you that much. I am most likely going to sell a small bit to get some needed financial help presently and hope I can make more on the bulk of it later.
Yes, it is all so very confusing! Our most recent offer is now up to $6,000 per nma.
31-7N-5W has approval for six more wells which must be drilled a year from December 4, 2015. 3 million barrels of oil and 14.094 BCF left to recover. Not a good time to sell. That is why you are getting offers. Worth a whole lot more than $8500 per acre!
Thank you for the info. Could please you clarify which section has the approval for six more wells? Is it 31-7N-5W or 1-6N-6W?
Thank you.
31-7N-5W CD 201504795 Order 647456 Bunch more companion clauses listed in the order. Friend me if you want the rest of the numbers or you can look them up on the OCC website in the Imaged Documents area. All public data.
Hi M Barnes. Thank you for the information. I have friended you. I have an offer for $8000 per nma for 31-7N-5W. I’m thinking I should hold onto it awhile longer? Thanks
Definitely hold on! Will chat on "friend" side
Hi. I was wondering if you tried to chat with me on “friends” side? I haven’t seen anything from you. Thanks Urrisa
Sent a reply tonight but it was really slow going out. Will try again tomorrow
I still haven’t seen anything from you. 