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Oil/Gas/Logan County Mineral Rights Value


I am trying to access the upside of keeping mineral rights (actually in Payne County 1W 18N 22) vs. selling for an offer of $3,100/acre just received.  We have 20 acres and got $375 bonus last year at 3/16th royalty.  The attorney we used had another client, 70+ year old farmer with surface and mineral rights of 10 acres somewhere in Logan County next door.  This attorney keeps advising not to sell and references this other client who was offered $2,000/acre and held out until a well was drilled and production started 1.5 years ago.  Production was evidently good and this client was given $5,750,000 for his 10 acres of just minerals.  This seems way too good.  The attorney can't explain exactly what production was and has called his client who has not returned calls so he can't share location in Logan county.  Does this story sound at all plausible?  I have looked at new production numbers in Section 22 of Payne and found ranges between 150 - 325 Barrels of Oil / Day.  I am looking for advice as this attorney is adamant that we could hit the jackpot but I think the $3,100/acre is a great offer and would net us $62,000 without the risk of waiting or finding a dry well.  We are also aware that Devon evidently leased 80 acres from the State of OK very recently and there are no new wells permitted yet in our Section (just Section 4,6,10 with 21 having a permit filed).  Any advice about out we could find out production numbers or is there a contact for a good geologist?


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.

$3100/acre is a great offer in my opinion as well. I'd take it if you are inclined to sell anyway. I see no evidence that a well will be drilled anytime soon, though the section does continue to be leased.

Feel free to list them for sale with us on the Mineral Hub if you like before accepting the $3100/acre offer. Having that offer in-hand may allow us to find a buyer for you who will beat it. I would think this buyer of yours would still agree to buy them after a few weeks if we can't find a buyer for you within that time.

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


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Frederick M. Scott


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.


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.

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

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

Certified Mineral Manager (CMM), Registered Professional Landman (RPL)

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