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Oil/Gas/Royalty offer from Legacy Royalty LLC

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Question
I have 30 acres of mineral rights in Garvin County, Section 30-1N-1W.  I received a letter from Legacy Royalty, LLC in Oklahoma City to purchase these rights for $2000 per acre.  Is there an interest in drilling in this area and is this a good offer.

Answer
Legacy Royalty in Oklahoma City are good peeps to deal with in my opinion. I've never had a problem with them and they've always been fair in pricing as far as I know. I took a look around here and I think $2000/acre is a pretty good offer really. Not too much going on in this immediate area in the way of drilling activity. I'd consider accepting the offer. It ain't too shabby in my opinion.  

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

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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)

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