Linda, I just turned down $2,000 & 3/16 yesterday in 6-1N-4W, which is less than 1 mile away from 31-2N-4W.
Yelp, Joe, that sounds very promising for you to maybe get a well going through your two sections plus getting some really good bonus money!
Thanks M Barnesā¦yes after you posted I looked for myself who had been leasing lately and it looks like several of those were Continental and the other half mainly some other oil companies. Glad to see thatā¦gets my hopes up. Would sure like to know how much they paid for those leases(just to know how interested they are) if anyone wants to share.
Eleanorā¦thatās great to hear!
Linda, 31 new leases in 3-1N-4W in the last 999 days. Variety of players.
Eleanorā¦do you mind telling who your new lease is with?
Eleanor, thanks so much for sharing that information! Itās wonderful news.
Jerry Hire & S D Mier: I own a small mineral interest in section 7-1N-5W. I manage 39 small mineral interest in locations all over Oklahoma and Texas and keep detailed records for all of these interest. I donāt know why Continental has not taken any action toward drilling in this section as there are several good producing horizontal wells in adjacient sections. When Continental failed to respace this section in 2014 the huge drop in oil price obviously caused oil companies to drill just those locations which offered the best chances for large production or in which the company expected to gain vital information about how to best produce this shale formation. I did not lease after an offer from Jackfork in 2014 nor have I received any subsequent offers to lease. I have received just one offer to buy, from a small Colorado energy firm dated 8/4/2017, to which I did not respond.
The following record of this section from my file may lead you to a better understanding of what your minerals may be worth. If anyone has any more info about what has spured Continental to not respace and not drill in 2014 and why they have apparently decided that it might be adventagious for them to drill in the forseeable future please share it with us.
Starting in the year 2014, Jackfork offered $1600/nma bonus for a 3/16 net revenue interest to us as agent for Continental Resources on 7/29/2014. Jackfork stated that they proposed to drill to test just the Woodford formation in section 7-1N-5W with a well to be called the
TBD 1-7H. I received a drilling and spacing application filed by Continental Reources to vacate the existing spacing and establishing new spacing units for formations underlying section 7-1N-5w as Cause CD no. 201406969 filed with the Corporation Commission on 1/12/2015. Jackfork acting for Continental did nothing until they offered the same bonus and lease on 7-1N-5W on 1/29/2015. The spacing hearing scheduled for 2/11/2015 apparently never happened but was continued to 4/20/2015 then was dismissed on 4/27/2015.
Don Fry
Thanks Eleanorā¦yes Jackfork was the one that leased our interest in 34 2n4w the last time. It was while the boom was still going on and we felt like we got a good lease at $1800. for a 1/5th so your offer was certainly encouraging. Sounds like they are really interested and hopefully will drill soon and want to come on up through our 34.
Thanks Don for the helpful information on 7-1N-5W and surrounding areas! Our family interest is very small in this particular location so any bonus amounts would likewise be small. The lease that recently expired was a particularly nice one with many desired clauses and a 1/4 RI. If we could get the same lease provisions, Iām leaning toward leasing now. Hopefully Continental is closer to moving into that area now. I donāt know how the āfriendā thing works but I did accept Jerryās friend request. Maybe we should all become friends and share our experiences and knowledge. I appreciate so much all the expertise that is available on this forum and say a big thank you to all who share. Diane
Dianeā¦the friend thing is so you can talk to any one of the ones that you are friends with on a private or semi private line instead of on here where everyone can see it.
Anybody had any dealings with Zephyr Operating Co., LLC out of OKC?
Joe, have you had any offers for 6 1n 4w lately? Thatās getting pretty close to ours in 34 2n4w so Iām wondering about all activity close to there. thanks
6-1N-4W specifically, but anywhere in Stephens or Grady counties generally, JDrig.
Linda, Iāve had an initial offer of $2500 and 3/16 from a landman. I countered with $3000 and 3/16 and he verbally accepted. The inept, arrogant young landman sent me a lease document but the written offer that accompanied it was for $2500 and 3/16. I called him and he told me it was āclericalā error. Made me so mad I told him the new deal would be $3500 and 1/4. That was day before yesterday. I donāt care if I ever hear from him again. Iāll let you know if I get a lease in the mail
Is anyone aware of any lease action at all in 2 1N 7W?
What Section-Township-Range Joe?
Good for you Joe. Sounds like he tried to pull a fast one. Glad you caught it.
Linda, I just FedExed back a signed lease for $3,500 and 3/16 for 6 1N 4W. I should bet the check next Tuesday. Weāll see if it clears the bank. If it doesnāt, EVERYBODY will hear about it.
Thanks Joe, love hearing about those great lease offers. Makes me think they know of something big fixing to happen.
John, do you mind telling me who leased your rights?
Thanks.