T7N-R3W:Sec. 4

Good day everyone. I was just contacted to lease a small tract of minerals in Section 4 of T7N-R3W. The initial offer is 1. $2,150.00 per acre, 3/16th royalty, or 2. $1,990.00 per acre, 1/5th royalty, or 3. $1,730.00 for a lease with 22% royalty. I know nothing about what is happening in my mineral acre hence I would appreciate informed feedback. Are they getting ready to drill here? How does this offer compare? Also what is the current value of minerals in this section...if someone were to sell? Thank You for your valued feedback.

I got offers of $3500 per acre @ 1/5th, $3000 per acre at 22.5% and $1500 at 1/4% in sections 8 and section 17 in McClain county.

Thank You Larry for your valued information. I have not seen prices like these being offered. Does anyone know if Section 4 is hot right now? I would like to get better offers before I lease. My mineral tract is quite small 1.667 under 100 gross. Anymore feedback would be greatly appreciated. Who is leasing around Sec. 4, and as an aside- what is the approximate value of mineral acreage there?

There is nothing filed against section 4-7N-3W. The last permit filed in that section was in 1994.

The gentleman above did not mention the township and range he was offered that in. Could be a completely different township miles away.

Leases in your township are going for about $2,000-$2,500 per acre with a 3/16th royalty.Depending on the section.

Thanks Chance... for the feedback. It then appears that the offer I received from Sven- was more or less in line. Lets set leasing aside and let me ask,1. "What is the approximate current market value of a mineral acre in T7N-R3W: Secion 4. ? 2. what zones are producers looking at around Section 4? and #3. What is the nearest producing wells and approx. how many bpd do they average. Thanks for these answers folks. Michael

Thanks for the contact Tom Butler. I appreciate your taking the time to help inform me. It is Sven Energy, and Patriot. Does anyone know what the production on the well in the section west is, i.e. how many bpd are being produced? I realize that two neighboring wells can produce very differently but I am trying to gain a perspective of probably expectation of revenue with 1.667 net acres leased at 1/4th royalty from a perspective well being drilled in 4. Yes- it is a reach but I am trying to understand this. (My lease would not allow marketing or gathering fees to be charged to me. Does anyone have a rough guesstimate of what I might be looking at? It is a fair question. lol Best Regards, Michael