Section 8 6N 1W Cleveland County OK


#1

We got an offer from Cochran Land Company LLC here. It is 1/8 $200 or 3/16 $150. Seems really low, and 1/8? I can’t believe anybody offers that anymore! Anyways, does anybody know who currently leases this area? Maybe another bigger name? We have quite a lot of acres here so we are going to take our time on it.


#2

That amount is about right as this is gas country and Charter Oak just pooled near you for the same amounts. BP bought quite a few sections from Charter Oak recently and only has two rigs to drill those sections up first. Cochran is a land company that leases for companies like BP. Operators don’t often lease in their own names much anymore. Red Sky land, Masters Oil & Gas are the other ones in the area. Cochran is the biggie at the moment. Be sure that you get a good lease that is more favorable to you. The one they offer is in their favor, not yours, but is negotiable.


#3

I’m seeing some comps up around $2k & 3/16 from 2017, so you might hit back around there. They weren’t too far away, maybe a couple of sections over. The site didn’t have the name for who paid the highest, but you could reach out to Armer & Quillen, LLC. Or like @M_Barnes said, Charter Oak seems to be paying a good amount as well.


#4

Thanks for sending that map. Can I tell what they paid people in those purple dots? I see the one to the SW. It has a 2 on it. That does not mean 2000 does it? I am trying to see what each one pays. thanks again.-Joe


#5

A guy sent me a message saying they got 1500-2000 a section or 2 over. Those might be just inside McClain. I am sort of debating the whole thing, A couple years ago I leased one cheap for 125 and got an offer a month later for 450! I am still sick about that. I have that lease you emailed me so I am going to be very happy to use that soon. A bunch of my leases are expiring and that could be a blessing since the one you sent is much better.


#6

The bubble is the number of comps for that section, but you can see the details when you hover or click on it. I’m a beta user, but I’m assuming you can probably set one up too. The site is mineralinsight.com. If not, let me know and I’d be happy to help you out.


#7

Thanks a bunch!


#8

I looked at that map. It looks like the good money is too far away, 3 or 4 miles. I might ask the moon and see what they will do.


#9

These people are slow playing the lease which makes me wonder if it has to be a not so good lease with an extension to do a deal! We have about 55 acres so I may have to shop it around!