First Friday Q&A on Oil & Gas This Week – OGTW158

Welcome back to another episode! This week’s episode is First Friday Q&A taken over by Matt Sands and Justin Williams of Mineral Rights Podcast. You ask the questions and we answer them. Big thanks to everyone who wrote in. If you want to get a question answered for next month’s FFQA, click the link below. Enjoy!

Have a question? Click here to ask.

 

Show Notes & Links:

My family received an offer to lease mineral rights we own. How do we know if the terms of the offer are good? And what should we negotiate for?

My grandfather acquired interest in 50-70 mineral rights, spread out over 7 oil-producing counties in Oklahoma. Sizes range from just a few acres, with the largest just over 80 acres. My sibling, cousins, and I now own these, but due to lost records, we do not have a clear idea of what we own and also they are geographically scattered so I’m not sure I can find these people or get in contacts with them. How do we learn exactly what we own, the value of the property, and maximize our income from it?

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We have 0.822 net mineral acres in Section 1, Township 5 North, range 2 West – McClain County, OK.

BP America is pulling this area and are trying to obtain oil and gas leases. They have offered to lease, not buy and will pay $500/net mineral acre. What do you think? Please advise.

 

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I leased my minerals several years ago, can I lease again?

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Weekly Rig Count

As of 11/5/2018 – The American Rig count is 1147 active rigs.

 

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Monthly Happy Hour

We will be hosting a happy hour on November 27th at The Cannon from 6-9 PM. RSVP here.

This month’s happy hour is brought to you by mongoDB, HEB and Karbach Brewery.

mongoDB is a document database with the scalability and flexibility that you want with the querying and indexing that you need.

Karbach– OGGN’s official drink sponsor. Bringing you Texas-brewed beer!

H-E-B– OGGN’s official food sponsor.

Want to sponsor a Happy Hour? Email our project coordinator, Julie McLelland, by e-mail for more information.

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9th Annual Summit on Operational Excellence in Oil and Gas
What: Over 300 Operations, Operational Excellence, EH&S, Asset Management and Reliability leaders are meeting in Houston to learn the latest strategies and technologies for managing change, increasing efficiency and optimizing productivity – without compromising reliability, safety, and compliance. Learn how to unlock value and deliver large – and lasting performance improvements.
When: November 5-7, 2018
Where: Houston, TX

Time Machine
What: Time Machine is your passport to the future. SparkCognition’s annual summit brings together world-leading creative minds in technology, government, industry, and academia to debate the most pressing issue of our time: artificial intelligence. Register here.
When: November 6-7, 2018
Where: Austin, TX

Managing Aging Plants Conference & Expo USA 2018
What: The aim of this dynamic event is to create a community dedicated to operating aging infrastructure safely & efficiently through the use of materials, inspection methods, best practices, etc.  Use code OGGN2018 for 50% off your registration.
When: November 13-14, 2018
Where: Houston, TX

Petrochemical Supply Chain & Logistics 2018 
What: The Petrochemical Supply Chain & Logistics Conference & Exhibition is positioned at the forefront of the booming Petrochemical industry in North America.  This industry leading event is regarded as the most significant meeting place for supply chain & logistics professionals, where they meet to do business.
When: November 15-16, 2018
Where: Houston, TX

SpaceCom
What: SpaceCom is where professionals from the aerospace and commercial sectors convene for two days of forward-looking conference sessions, a packed exhibit hall showcasing cutting-edge technology, and an Entrepreneur Summit that promises to transform markets.
When: November 27-28, 2018
Where: Houston, TX

 

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