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Oil/Gas/3/16th Lease interest


I have inherited 3/16th interest in the minerals of 5+ acres located Section 28 Township 15 North, Range 12 West, Blaine County, Ok. I am receiving offers from mineral companies that vary in price. I would like to know what the mineral rights are worth. Can you help or direct me to someone that can estimate the value. We were collecting royalties from Devon Energy Corp but they have stopped. Thank you for your time.
Barry Brady, Hollister, California

It's a good idea for you to check with a trusted advisor when you are dealing with oil and gas matters.  
The industry is a complex and many people come and go in this business so unless you are dealing with a licensed professional, do handle with care.
The interest you own represents less than 1 acre or 0.9375 of an acre, if I am interpreting your statement above, and that is you own, 3/16ths of 5 acres.
Consequently, with small undivided interests, the value begins to diminish because a producing well usually pays for all owners in a unit with the unit sizes ranging anywhere from 80 to 640 acres +.  Typically shallower zones have smaller units, but now with the widespread development of the shale plays, which are quite deep, these units are anywhere from 640 to over 1200 acres.  Take your 0.9375 of an acre, and divide it by the unit size and that is your decimal interest in the unit. You can see, it becomes quite a small number.
I'm not sure what the market value is currently for Blaine County, but if you have been getting several offers from different companies, then they should all be around the same amount.  If they aren't, then you can judge for yourself that something looks a little off.
You did not say whether your revenue has stopped because the well is no longer producing, but if this is the case and your lease has expired, then of course this is important to note.  It is more valuable if it is producing.
If I have misinterpreted your ownership and you own 5 acres that are leased for 3/16ths, I would be interested in helping you evaluate it.  You can reach me at  
Best of luck.  


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Laura M. FitzGerald, CPL


PLEASE READ CAREFULLY BEFORE SUBMITTING A QUESTION. I can answer all questions related to oil and gas ownership, mineral interests and working interests concerning the leasing and selling of your minerals, any questions concerning pipeline ROW's, units with the Louisiana Department of Conservation; pooling provisions, depth limitations, vertical or horizontal pugh clauses; and oil and gas terminology. I can offer assistance in negotiating for leasing your property, assisting in locating owners of suspended funds or to receive the best offer for your oil and gas interests, should you desire to sell. I am only able to answer questions regarding oil and gas leases, minerals, royalties, or offers to purchase mineral/royalty interests if I have complete information. Please provide a full legal description for your interest(s). If the question pertains to a lease, please include all terms of any current (or desired) lease offers, including lease bonus amount, royalty and lease term. If the question is regarding a mineral or royalty interest offer to purchase, please provide the offer amount, date of offer, other offer terms, and further details on the mineral/royalty interest, such as lease terms, and if producing, the average monthly income. Since I receive numerous inquiries daily, I am only able to answer your questions efficiently and effectively if I have complete information. I must decline any questions submitted with incomplete information. If your question is non-technical in nature and you simply need assistance understanding an oil and gas matter, please submit your question with as much information and detail as possible. Any background information that has led to your question is also very helpful.


I have over 34 years experience as an Independent Petroleum Landman. I became a Landman after working as a paralegal for Oil & Gas Attorneys for 8 years. My first 2 years were spent specializing in Well History and Research with the Louisiana Department of Conservation, then moving into clearing title defects and handling title curative for oil and gas properties for the next 6 years. Subsequent thereto, I handled title issues, buying oil and gas leases and settling surface damages. I also acquired acreage for drilling prospects in excess of 10,000 acres. I also became a mineral/royalty owner commencing in 2004 and have found that I can help many people when they have reached the point in their lives they feel converting their minerals or royalties into a cash asset benefits them.

American Association for Professional Landmen, ArkLaTex Assoc. of Professional Landmen, and Dallas Association of Professional Landmen (DAPL), Certified by the Women's Business Enterprise National Council (WBENC)- South. This certification is one of the most widely recognized and respected certifications in the nation. This designation is reserved for only those women-led businesses that exemplify the characteristics of integrity and professionalism to which the WBENC adheres to so strictly.

Attended LSU, became a Certified Professional Landman in 1994; Notary Public with dual authority in multiple parishes in North Louisiana; Bilingual in English and Greek

Awards and Honors
Expert Oil & Gas Professional assisting attorneys representing landowners. Involved in 2 lawsuits and both suits were awarded to the landowner. Ilios Resources, Inc. has been awarded the Best of Shreveport Oil and Gas Mineral Buyer Award for 2016, 2015, 2014, 2013 and 2012.

Past/Present Clients
Consultant Landman for Texas Oil & Gas (TXO Production Corp.), Anadarko Petroleum, Comstock Resources,Independent Geologists, Pipeline ROW Clients, and Oil & Gas Attorneys. For the past 5 years my practice is primarily an advocacy for the landowner. I also assist royalty owners recover suspended payments or incorrect royalty payments, or sell their mineral or royalty interest.

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