Owner has a copy of the index for this section, and can provide a copy of most or all of the relevant instruments. Section 16 is HBP X 2 wells. The most recent of which is the Cotton 1-17 16XH, completed in July of 2018. This well produced at least 46,000 BO and at least 129,000 MCF of gas in 2018 per OTC production info. Check for January, 2019 oil production was $255. Gas for January, 2019 was about $70, so $325 for January, 2019 production from the Cotton well. 

Owner decimal is 0.000482148 NRI in the Cotton (per owner) for the three acres they are selling. Check stub (see link) shows a decimal of 0.00053572 which is for the entire 3 and 1/3 acres they own apparently. 16-1N-1W Check Detail

Cotton well is a 1280 looks like, though as much as 66% of the income is probably going to this Section 16 due to completion intervals noted on the application to drill. The below map link shows where leases have been purchased, and by whom, over the past twelve months, as well as current permits in the general area. Map provided by and used with the permission of DrillingInfo. 

Current Leases and Permits

The older, Janet 1-17 well has minimal revenue. Owner decimal on that well is .00097657 per 2017 check stub we were provided from owner. It’s a 640 spacing looks like. NOTE: Owner owns a bit more than 3 nma but is selling only 3 nma. 

 

 

Property Number

1611

Legal Description

16-1N-1W

County

Garvin

State

Oklahoma

Net Acreage

3.0

Price

$4500/acre

Interest Owned

Mineral

Leased

3/16

Producing

Yes

For more info, or to purchase or make an offer on a listed property please contact us