I unexpectedly inherited mineral rights in Love Country from my grandparents in 2013. I believe the rights are for sections 36-6S-1E, 31-6S-1E, and 6-7S-2E.
Not long after the will went through probate I received a letter from Lowry Land Co., acting on behalf of Continental Resources Inc, offering a lease for section 36-6S-1E (no mention of the other two sections).
Section 36-6S-1E is 225 acres, and the offer was $600 per acre for a 3 year term with 3/16 royalty.
Not knowing anything about mineral rights, I just set the letter aside and did nothing about it.
Now, 5 years later, I would like to do something, and I am not sure the best place to start? Is it best to go back to Lowry Land Co. and ask if they are still interested? I also wonder of someone might have been simply taking the minerals since I did not respond?
Stephen I just posted about a leasing offer. I would message you privately, but the website seems to of disabled the ability to message back and forth, so others watching at the companies can see what we are saying about them.
Hello,
My name is Bryan Thomas,
I live out of state, it is hard for me to get information on leases going on in Love County.
My family has around 120 acres of mineral rights in this section;
FOUR (34) ALL IN TOWNSHIP SIX (6) SOUTH AND RANGE TWO (2)
Would you happen to know if there is any leasing going on at this time or any activity.
Also is it a good idea to sign up on the Oklahoma mineral registry?
Thank you.
No current leasing in that section. I do not find it helpful to use the registry. The landman are going to use the courthouse as the legal repository of any information.
This cannot happen in Oklahoma. However, it is possible for property to escheat (be claimed by the state) if it lies dormant for a sufficient period. 84 O.S. Sec 271.
I share mineral rights with my sister for sections 36-6S-1E, 31-6S-1E, and 6-7S-2E in Love County. Recently we received an offer for leasing 6-7S-2E of 750/acre, 3/16th, 3 Years from Trailhead Oil and Gas. I wanted to share this information for comments, as well as to learn about possible activity in the area (no interest in the other two sections, I believe).
More generally, before Christmas oil was close to $40 a barrel. Now it is around $70. Is this a sign to expect more activity in Love County?
If these were inherited, then it is likely that each owns a fractional share. Not to split hairs too finely, but sometimes people are under the impression that all heirs must sign a lease. In most cases, one leases their fractional share in the minerals.
