From reading forum posts I gather that you should not take the first offer?
Any information on this section would be much appreciated.
I have not been happy with the landman that contacted me about leasing the rights. He would tell me he would call back the next day with more legal questions and I would not hear from him for a couple of weeks until I sent him a text. Then he would call me and ask more questions and say he would call back. I would wait a couple of weeks and text him again.
I called Centennial Friday because I received a letter from him with no lease and W9 included. I was told he was no longer with the company.
They told me his replacement would call me today. That has not happened so far today.
Is this the normal business procedure when you are contacted by a company?
Hi Pam, the exact same thing happened to me and my sister from someone at Echo Energy. He was interested in purchasing our mineral interests. This was really weird behavior to us.
I also would like to know if this is normal business.
Thanks for sharing.
Urrisa
Hi Pam and Urrisa. I can imagine this is very frustrating and it does not sound very professional at all. If you are interested in an independent, third-party, appraisal of the value of your minerals my company, Stack Energy Consulting, can provides these for minerals owners. It would be like getting your house appraised before you sold it just our reports focus on minerals and are made by oil and gas professionals with many years experience working in Oklahoma. We typically recommend 1) the fair market value if you sold your minerals and 2) the fair market combination of cash-bonus and royalty rate if you lease your minerals. If you are interested please do not hesitate to add me as a 'friend' on this site and send me a personal message. We typically charge around $500 per report, but it can be more or less depending on your acreage position. Thank you and all the best.
As a landman, I am ashamed to say that there are individuals who are not a part of the National Association of Professional landmen and do not hold themselves to a high standard of business ethics but there are still some of us landmen out there who value good business practices and see the need to keep landowners needs and concerns a priority. If you happen to need any help from a trustworthy group getting the best possible offer and terms we would be happy to help you out either by giving advice or getting a chance to beat any other offers you might get.
I own mineral interests in Grady County, section 28-township 6N-Range 8W approx. 160 acres. Also, 31-7N-5W (not sure how many acres) and 6-6N-5W approx. 13.5 acres. Do you know what these are worth and/or do would you be interested?
I have been contacted today by the new land man from the land company. He has called me three times today getting everything as it should be. He is sending an affidavit concerning deaths in the family. He seems to know what he is doing and apologized for the lack of communication from the previous land man.
It would of course depend on the royalty being offered, but if it is for a 3/16ths lease, $700 an acre sounds a little low. I can check to see what a competitive price is in this area.
I will send you a friend request so I can send what I find through a private message.
Vitruvian is drilling the FOWLER 4N6W 3-9X16H in section 9-4N-6W right now. Section 9-4N-6W borders the east side of your section 8-4N-6W. They have a pooling application before the Oklahoma Corporation Commission right now, but a final order has not yet been issued. When it is it will have the bonus amounts for the various lease percentages.
Also, a rig is now on section 12-4N-7W which is just a mile west of your section 8-4N-6W. Vitruvian is the operator there as well although I have not seen the drilling permit yet.
That’s pretty low!I got offered 2500 11 7N7W. And they made noise like they would go higher.Im new to this also and definitely don’t take the first one unless it’s the best.Good Luck!
