You are here:

Oil/Gas/Mineral Rights

Advertisement


Question
My sister and I received letters regarding mineral rights from our grandmother's family.  The company sent us an offer to buy our rights.  Offer was $2200.  I would like more information regarding this area and the activity in this area of Oklahoma.  How many acres is this or what percentage do we own?  Would appreciate a prompt response.  Thank you

Lot 3 & NE/4 SW/4 of Section 30, Township 8 North, Range 18 West
Washita County Oklahoma

Answer
$2200 per acre, or $2200 total? $2200 per acre would be a great offer for these I think. However if the total offer was $2200 and you have more than a couple of acres then that would not be a good offer. The buyer should be able to tell you whether the offer was per acre not. I have no way of knowing how many acres you own, but the buyer would check your ownership before paying you I'm sure (if they haven't already checked.)

The Oklahoma Corporation Commission (the regulatory body for oil and gas in Oklahoma) has a wealth of information available online relating to oil and gas activity and production in Oklahoma. You can look up such things as drilling permits, recent production information, well completion reports, forced-pooling orders, and anything else that falls under their jurisdiction.

Hope this helps you out.
Frederick M. "Mick" Scott CMM RPL
www.mineralhub.com
The Mineral Hub  

Oil/Gas

All Answers


Answers by Expert:


Ask Experts

Volunteer


Frederick M. Scott

Expertise

Oil and gas leasing, lease negotiations, how to best deal with the oil and gas companies or their representatives, buying/selling mineral rights, forced-pooling, correlative rights, deeds and conveyances, and "post-production" costs. I am most experienced with Oklahoma properties and laws, but am able to answer questions concerning other oil and gas producing states in many cases.

Experience

I am a Certified Professional Mineral Manager (CMM) certified by the National Association of Royalty Owners (NARO) in Tulsa, OK. I am also a Registered Professional Landman (RPL) with the American Association of Professional Landmen (AAPL). I have managed my family's oil and gas properties in Oklahoma for over 10 years and have dealt with many landmen, title analysts, attorneys and other oil and gas professionals in the process. I have written several articles which have appeared in various oil and gas industry magazines and newsletters. I have negotiated and drafted leases, prepared deeds, affidavits, and other legal instruments relating to my own minerals, as well as performed title, legal research, and curative work for same. I have acquired a good deal of knowledge on the subjects of oil and gas law, mineral appraisal, and landwork over the past ten years, and also worked as a professional landman and lease buyer for a time. I've seen the business from "both sides" and therefore feel confident I can help out most of the folks who ask questions in this forum.

Organizations
National Association of Royalty Owners (NARO); American Association of Professional Landmen (AAPL)

Publications
National Association of Royalty Owners "Action Report" (ROAR); NADOA Magazine, The Mineral Hub, Landman Magazine, and several royalty owner association group's newsletters.

Education/Credentials
Certified Mineral Manager (CMM), Registered Professional Landman (RPL)

©2016 About.com. All rights reserved.