What should I ask for my MINERAL RIGHTS?

First off, I am an Oil & Gas Professional (36 years) so I don't need all the advice about how I should never sell mineral rights. I have small interests from my fathers estate scattered across 8 sections in Stephens and Grady Counties. I only know this because I have closed out his accounts at the State Treasurers Office and it contained a list of the wells that that the funds came from. The Sections are as follows : 2N-5W : Sections 1, 12, 13, & 14 (Stephens) and 3N-5W : Sections 1, 12, 13 & 22 (Grady).

I received a call a few years ago after I had filed the Proof of Death and Heirship in both counties but since I hadn't addressed the unclaimed property yet I wasn't interested and don't remember the offer or who made it. According to the Corporation Commission Data, there seem to be a lot of old plugged oil wells and a few that I guess by someone's standards continued to produce enough to hold the leases. There are also quite a few newer gas wells (some horizontal) which are producing but I can't find production information and also several that are "AC" (awaiting completion I assume). Has anyone received any offers in these areas? If so how much? Where can I get production data on a per well basis in Oklahoma? I doubt that I own much more than 10 acres and I stay pretty busy here in Texas and just can't find the time to mess with it much. ANY HELP YOU CAN OFFER WOULD BE GREATLY APPRECIATED.

Regards,

Dean

Dean, It is not easy since the OCC does not require operators to report oil production/oil sales. I would start by using the following link:

OTC Gross Production

Use the Legal option at the bottom. Be sure entries contain two digits, that is 2N is entered 02N, etc.

You may pull-up info for each well by clicking on PUN listed to the left. The production tab will give you a rolling twelve month listing of oil, gas and, if applicable, NGL's.

You may use the Well Data Browse feature on the Oklahoma Corporation Commission website to find additional gas production history (but no oil history) if the well has been classified as a gas well. If the well is classified oil there will not be any oil or gas production listed. Again, enter legal location as above; then look for the production tab.

Thank you, I kinda remembered the OTC was the source but couldn't get there from this brain. Excellent source of info.

Are these minerals leased, and at what royalty? If the are are open of record the offer will be considerably higher

I assume that anything that is not HBP is open as my father passed 20 years ago and we have not executed anything since then.

Hi Dean. If you are looking for a quote on your minerals, I may be able to help. Please send me a message if you are interested.

Remember : “THIS” The OCC swings A BIG stick. I’d contact them with my concerns/and OR Complaints.

THEY have a website which will reflect production data and which will define the Abbreviations used.

OCC WELLBROWSE will provide needed production data - something a Licensed Professional told me.

Don't use the OCC production data. It is from the well head and only measures the product that the company listed as the type of well, so you miss the other products. Also, especially with gas, there is shrinkage from the well head to the sales point, so the data is not helpful for matching with check stubs.

Use the OTC tax site which lists all products and sales amounts. That is where your royalty comes from.

Richard

if you have a specific list of wells that you would like production data on, I can use some of my subscriptions to pull the data up for you. Let me know if you are still seeking the info.

regards

Jeff