Thank you, Virginia.
Charlie,
I don’t own any minerals in Woodward County but I have in-laws who do. I know Randall Raulston, Inc. is a landman service in Woodward. He has been active to the south of your area. He took leases for WCT Resources LLC in Sections 20, 21, 22, 28 & 33 - Township 22N-Range 21W. He may also be working for Range Resources but nothing has been assigned yet. I think WCT Resources is out of the OKC area but am not 100% sure. WCT Resources took a lease from the school land commission in Section 22-23N-21W and paid $757.00/acre and 3/16 royalty. Range Resources is on their 3rd horizontal well on the west side of Woodward. In Section 28-23N-21W Range’s pooling order offered $450.00/acre and 1/8 royalty, $400.00/acre and 3/16 royalty & $0 bonus and 1/4 royalty. I know Trueblood Resources out of Denver was leasing in your area 2-3 years ago and I think they offered $100.00/acre 3/16 royalty and 3 years or $200.00/acre 3/16 royalty and a 5 year lease. Range has drilled horizontal wells in Sections 29, 28 and are currently in Section 22-23N-21W and have another location ready in Section 29 again. Hope this is useful and they move north toward your area.
Has anyone sold minerals in the South part of Woodward County, Oklahoma? If so, what are minerals going for? We have the option to purchase 220 acres of undivided minerals, the section has had 3 dry holes, but gas wells across the road.
I have an offer to lease 2.4 ac tract 5 & 6 of Section 7 - 23N - 21W Woodard County. Offer by R. D. Williams & Co Ardmore, OK. Offer is $350 - 3 yr primary term with 3/16th royalty. Any thoughts on any of this?
Lawrence Lindley, just saw your note to me, and I want to belatedly say thank you. Sorry for being so tardy.
What is leasing going for in SW Woodward County?
Has anyone leased south of 22-22N-21W?
Sec 20-20N-17W and Sec 21-20N-17W. Anyone know of leasing in area?
What rates?
My name is Troy Curtis, a landman, with Concho Land Company in Freedom, Oklahoma as well as Oklahoma City. I thought while times are slower, I would offer to help with any questions people may have in general and post my email, conchojobs@gmail.com for any and all questions. I also wanted to offer our services for individuals in need of mineral research or help with production-related concerns in all Oklahoma Counties and the surrounding states.
House Bill 2177 is being discussed in the Oklahoma House right now, and it impacts royalty owners. It’s worth the time to read and listen to this.
http://okenergytoday.vbulletin.net/forum/main-forum/324-a-must-read-and-listen-about-house-bill-2177
I own small mineral acreage in 18-20N-19W. Anybody have an idea of what the leasing rates are in this area?
Hi there I am a new owner of mineral deed. What is a NMA? What does a landman do? How do I find out if there is activity on the land?
Thank you in advance…
I have an interest in Section 32, Township 21N, Range 19W. Received a lease offer from Continental Land Resources for $700/acre, 3 years, 3/16 royalty and 2 years option at $700/acre. Anyone else with an offer? Don’t know if good or not.
I recently received a lease offer in 20N 22W. $100/nma. Interesting as I haven't seen many leases filed around here. (nobody is drilling either!) Would appreciate any news from other in this area.
Pato,
This is on the low side, I would try for a little more. There isn’t much drilling going on anyway right now. But, it will return once oil/gas goes up, maybe in a year or so. They did hit a good well about 6 miles east of your Range.
My 6 siblings and I own mineral rights on Section 4 Range 20 North-20 West. Danick Corp is drilling there, the Freedom wells. There used to be one called the Heather, and another the Norman, but I believe they are no longer. Can anyone in the area tell us what’s going on in that part of Woodward? We’re in the dark. My siblings live in Florida, I live in Texas, San Antonio. I know there is a worldwide problem with oil production right now, but we’ve virtually received nothing since April this year. Received $45.00 July each, and nothing until end of November, received $37.00 each. We do have one company offering to buy the mineral rights for $750/mineral acre. One of my sisters took that and got paid within 6 days. We each own 14.33 acres. We used to own the land 108 acres, but sold it in 2008, but retained mineral rights. I guess what I’m asking is this: does anyone know what’s going on in the area? The driller tells us to hold onto the mineral rights because when oil prices come back up we should be earning some money. Anybody have any opinions on this?
I and my 6 siblings own mineral rights on Section 4 Range 20 W Township 20 N. We used to own the land but sold it in 2008 but retained mineral rights. Danic Corp is drilling in that area. These are the freedom wells, although production way down right now. This used to be the old Adams property my great grandfather bought in late 1890’s, sold to my grandfather, and left to my dad and his sister upon grandma’s death. Was a total of 216 ac divided between my dad and his sister. Just wondering if anyone has heard of any real production going on in area?
Question. Three people own the same mineral acreage so are three leases required for the oil company to drill or just one signature needed. By the way anyone know the going lease rates for 7-21N-19W. Thanks for your help
7-21N-20W 3yr 3/16 $800/ac
Charles,
First 3 people have an undivided mineral acreage in some property. So let’s say, the mineral acres are 30 acres, so each person owns 10 acres of undivided minerals in the same property.
Does each have to sign a lease? Usually they will each be asked to sign a lease, the bonus may be different, depending on how good of a negotiator they are. Now let’s say, one of these people doesn’t want to sign a lease, usually the oil company will just pool them and they may not get a bonus. Regarding lease bonus, I have heard of $600 to $800 for 3 yr 3/16. You may want to try for 1/5, make sure you mark out you will pay for transportation, etc. Also, they may want a 2 year extension at the same price. I usually ask for more bonus for any extension.
Me again. The company offering me a lease (Continental) doesn’t want to raise the shut-in rental price from $1 to $10. Can anyone explain to me what’s the big deal for them to do that?