Value of mineral rights in Section 35 10 N. 6 W


#1

Hi, I’m new to this forum, & have some questions about the activity going on in Grady county. My mineral rights are leased at this time, & the company has been approved for increased well density in 5 wells. What does this actually mean? I have numerous offers to buy my mineral rights & wonder if anyone knows what the going rates are at this time? Any information would be helpful. Thank you


#2

increased density means that the operator has requested permission from the regulators to drill more wells in a unit than what previously was allowed. They do this to increase the recovery of oil and gas. This is a very good thing for you.

I received a request earlier today from someone to look at some acreage not far from you - 10N 6W (a couple of different sections) but close to your acreage. I will see what I come up with and how your acreage compares then circle back.

Are you leased at 3/16th’s or a different royalty rate?


#3

I’m leased at 3/16ths. I have about 10 acres that I inherited from my parents. Thank you for your quick response. I’m trying to find out everything I can.


#4

Hello, I am also trying to determine the “going rate” for a mineral lease. My brothers and I have 7.5 acres located in Grady county Section 22, Township 03 North Range 07 West E/2 E/2 W/2 and W/2 E/2. We have been offered a lease with a signing bonus of $400 per acre (3 year term). And a 3/16 royalty. From what I read here, the 3/16 seems about average - I’m more concerned about the $400 per acre as that seems low to me. All comments are appreciated! Thx!


#5

Switchplay, there’s nothing going on in that section right now but unless you need the money I would wait for better offers. Within 3 years there could be some action in the area and that $400 could be way under value.