We leased mineral rights in September 2022 on 14/23-T13N-R20W. Lots of filings for this were copied and sent to us from the courts shortly after. That has since stopped. I now have calls at least 3 times a week, emails and offers have ramped up recently to buy our mineral interests. So my question is, can I look up anything to find out if they are drilling yet? Is the time frame 3 years to drill?
The operator has until Sept 2025 to spud a well if you have a three year term on your lease and you have the clause that allows that. They do not have to be finished with drilling. Offers in Custer are picking up due to permits in the area. I do not see a permit on your sections yet, but there are several close by. You can watch the OCC well records site for the permit (Form 1000) Spud (1001A) Completion (1002A). They are posted by surface location, so I would start with 11 just north of 14, 14, and 23 and 26. Wells are often spud fro a surface location just over the border in the adjacent section. Nothing yet, but time will tell. I suspect you will see new activity later n 2024 or early 2025 since the pooling has not been finished for the sections.
In cases like this where I am already pooled or leased, I just sit back and thank them for their calls, tell them I am not interested and wait for drilling. Unless you have a need to sell, don’t get caught up in the emotion of all of the buyers bugging you.
2 Likes