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Question
I have received an offer to buy my lease.  I the lease is in Grady County, Oklahoma, Section 8-6N8W.  I live overseas and have no idea if the offer is a fair one, or the company legitimate.

He offer is through Mordhorst  in Tulsa Oklahoma.  From what I have been able to figure out online, they also have a company called Aspen Land and Exploration.  

How can I find the information whether the offer is fair and the company legitimate.

Hank you very much for your assistance and advice.

Sincerely,
Lesli Mayhew-Driver

Answer
Grady County Permits
Grady County Permits  
There are other companies leasing in your section currently, and I would suggest contacting them as well to see what they may offer. Additionally, a former client of mine had a very bad sales experience with a Mr. Dan Mordhorst of Tulsa several years ago. If Dan is the same guy who contacted you I would recommend using extreme caution if you choose to deal with him.

My guess would be you should be able to get between $800/acre and $1200/acre for a lease in this area currently, with no less than 3/16 royalty and no more than a three-year primary term.

You should also contact Calvin Energy, LLC, Unit Petroleum Company before you sign with anyone. Both have purchased leases recently in the area. You can "Google" their contact information. Tell the person who answers the phone that you are a mineral owner in Grady County, OK and would like to speak to someone about leasing your mineral rights. You could also ask them for an email contact if you can't talk to someone right away. This would save you some money on the phone bill.

Should you desire to SELL these rights rather than leasing them I can certainly help you with that. You are in a good area though so may not want to sell, but if you do please consider posting them for sale on my website, the Mineral Hub (see below link.) You could obviously get more for selling than you will for leasing, but of course you would not own them anymore after selling, which is not the case with leasing.  

Note: I've attached a map showing where drilling permits have been issued over the past year in your area (blue dots.) The "little black dots" in the background represent older wells that were drilled in the past. Your minerals are located in the NW/4 of the 6N-8W Township shown on the map (the town of "Norge" is included in the township.) The map is courtesy of Drilling Info, a subscription-based oil and gas information website that is available to the public for a fee.


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

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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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