Also Sec-17-7N-3-W and Sec-29-7N-3W any word on who some of the leasing companies are besides a offer I received from Energy 29 for my acreage in Sec-20-7N-3W.Im just wondering if any others may be interested in leasing as I only have the offer and I sent it in over 3 weeks ago and haven’t heard back.The operator is Native and the proposed name is the Rising Sun in McClain county Oklahoma Thank you in advance
Lots of leasing in the 7N-3W township in the last 24 months. Alvarado, BNR Assets, Bridgeport, Continental Resources, Energy Twenty Nine, Gulfstar, Holt, Longreach, MD Family ventures and quite a few more.
Validus has filed for pooling, so looks like the operator. Hearing is supposed to be 8-10-26, so you may not have much time in which to lease. Pooling is a good choice as an alternate with its own benefits. You are likely to get additional letters as pooling gets closer. You only have 20 calendar days from the pooling order in which to choose your options if you go that route.
We signed a LOI with 89 Energy 6/2024 for Rısing Sun 0703 8-17-20-3WXH Well Proposal
and have never heard another word. Why are they even sending out these LOI’s if they are not
going to proceed with actual leases?
Thank you,
LB
Many agents are out there circling. Agents are given a certain amount of money to spend in a certain amount of time on a certain amount of acres. If they get the acreage they need, they move on. If they run out of time or money, then they move on to the next job. Personally, I never sign a Letter Of Intent because I do not want anything in writing until I sign an actual lease with whomever offers me the best clauses and the best bonus. The draft leases are not in the mineral owner’s favor and need significant edits to get into a more fair state of affairs. Some agents are allowed to negotiate those terms and some are not. Devil is in the details!
The well 35-087-22457 Rising Sun 0703 08-17-20 was spud 8/1/2024 and completed 1/17/2025, measured depth of 20,713 feet and a lateral of around 10,000 feet. It is mapped only in sections 8 and 17. I do not know why but could be trouble with staying in the formation or a spacing issue that kept them from drilling into section 20. If Section 20 is where your minerals are that would explain not having heard anything. You can always reach out to the owners relation department and ask them questions. The current operator of record is Validus. ownerrelations@validus-energy.com