Got an offer to buy my mineral rights out of the blue from Pentex. I inherited 1/15 after my grandmother passed away 3 years ago. Have not received any royalty payments in the 3 years. Looks like there is some activity going on in the area now. Anyone know what is happening there?
Oklahoma is part of the Public Land Survey System (PLSS) also known as the Rectangular Survey System that divides real property into 640-acre Sections by Township and Range. It will be helpful if you give not only the Sections, but also the Township and Range.
You might want to look at:
3N 3W. It’s just south of Wallville in Garvin county.
Per an April 20th letter, "Casillas Petroleum Resource Partners, LLC and Casillas Operating, LLC (collectively, “Casille’) has determined that at this time it is going to abandon the Massive 1-34-27 MXHR for mechanical reasons.”
Massive 1-34-27 MXHR, 27 and 34-3N-3W
That said, if you are not in dire financial straits selling may not be a good choice in the long run.
I dug around and found the paperwork. Here is what it says W/2 NW/4 AND W/2 SW/4 AND THE NE/4 SW/4 AND THE NE/4 SE/4 SW/4 in Section 27, Township 3 North, Range 3 West of the IBM, Garvin County
W/2 NW/4 AND NW/4 AND SW/4 AND THE NW/4 SW/4 SW/4 section 23, Township 3 North, Range 3 West of the IBM, Garvin County. Section 34 came from the Pentex letter. Thanks for the responses. And as far as dire straits, we aren’t there yet but it could happen at any time. My husband has Leukemia, so I would like to pay the house off so we don’t have to worry about losing it when he gets to the point where he is no longer able to work.
The Massive well has all 640 acres spaced in 27 and another in 34. That well was placed at the far west side of the sections, leaving plenty of room for other wells to replace it.
Casillas has a horizontal well pending in 23. It will probably start halfway up 26 on the far east side and go all the way through 23, so that will help you on the percentage payout on the well. It will be called the Apex 1-26-23XWH.
The pooling order just finished on August 7, 2018 with commencement of operations in 180 days, so that is a fairly short time frame to get started in. Good for your time frame.