In July 2010 my family signed a 3-year lease on the W/2 of S1, Township 2 South, Range 22 West that included a 2-year kicker.
I know the leasing activity started earlier in the year and as far back as mid-2009. These leases are getting close to the end of the primary term.
I am wondering what the operators are doing with these leases. Are they letting them expire? Are they paying off on the 2-year extension? Are they re-negotiating for a lower bonus?
We live in Texas and don’t have any local contacts.
Thanks for your help.
Mr. Etter I am curious who your lease is with as I signed one at about the same time with Okki Energy’s.
Folks I had leases in several locations around your leases. They all were leased to OKKI. Those leases expired on 5 April and have heard nothing. I have heard that a lot of the development is on hold waiting for more water for fracing. Lot of good wells across the Red River in Hardeman County.
Don,
We signed with Maverick Energy Inc. of Oklahoma City, OK, in July of 2010.
Our first offer came from OKKI in April of 2010 but they never paid on the 60-day draft but requested another 30 days. OKKI claimed they needed more time to verify title. Title was simple and I knew they were still trying to peddle the acreage. Milton, with Maverick, said he had run into that a lot with OKKI.
Maverick Energy, just as OKKI, are leasing companies. Neither would tell me who they were working for. I do not know who our lease has been assigned to at this point.
Don Scarbrough Jr. said:
Mr. Etter I am curious who your lease is with as I signed one at about the same time with OKKI Energy’s.
OKKI pawned them down a long line that I believe ended up in the hands of Panther Energy. Panther is in the process of trying to sell the package. They are going by the name of Holmes Exploration in Texas. Link goes to Panther Energy website with sale package numbers and general locations.
2612-panther_midcon_02262013.pdf (1.19 MB)
Thanks Pecan. Looks like we are not a part of the Panther holdings. I’m in the business in Texas. Down here I could look at a current ownership map and see who holds the lease, in Oklahoma I don’t know how to find that information. Any ideas that don’t include a trip to Altus?
Pecan One said:
OKKI pawned them down a long line that I believe ended up in the hands of Panther Energy. Panther is in the process of trying to sell the package. They are going by the name of Holmes Exploration in Texas. Link goes to Panther Energy website with sale package numbers and general locations.
That is the challenge in ok, some counties you can Jackson not without paying or going to court house and doing research. Some programs out there to look up but have to pay.