Welcome to scoopmineralrights.net. If you own mineral rights in the SCOOP Shale then you may be sitting on a proverbial gold mine. Your mineral rights are sitting on one of the largest deposits of oil and gas in the world. You could have future royalties coming to you or the ability to sell for a lump sum to an interested buyer based on the area you own minerals.
We have created a guide to help you understand the production in the area. Below you will find well information in your region helping to educate you on the value of your minerals.
Oil and Gas Wells in the Scoop Formation
The SCOOP formation produces large quantities of oil and gas over 12 counties in Oklahoma. Here is a breakdown of a typical oil and gas well in your area since the inception of horizontal drilling in the SCOOP formation:
There have been 1,475 wells drilled in the SCOOP formation with an average daily gas production of 409 Mcf per day and oil production of 32 barrels per day. Additionally, the cumulative amount of gas produced from each well on average is 1,858,331 Mcf and average cumulative oil is 96,745 barrels.
The average well in the SCOOP formation generates approximately $86,627.63 a month based on average oil prices of $60 per barrel and $2.25 per Mcf gas pricing.
Potential Royalty Calculator
Want to know what you could receive each month in royalties some day? Use our royalty calculator to find out what potential royalties you may receive one day. Numbers below are based on current market conditions and may fluctuate:
What are My Minerals Worth?
There are many variables involved with valuing mineral rights like commodity prices, location of mineral rights and activity in the area. In general, offers for acreage having a current oil and gas lease in this area tend to be worth much higher than unleased acreage. Buyers tend to view unleased acreage as less desirable since operators in the area have no plans to drill on your acreage in the near term. For a better idea of what your minerals are worth:
Are you Receiving royalties?
Let’s start by telling us how much your receiving each month in royalties:
You can expect an offer around the estimate above from a typical mineral buyer based on your stated royalties. Buyers will pay an average of your monthly royalty checks multiplied by 50.
Not receiving royalties
Unleased acreage can be below $500 an acre to $3,000 an acre depending on location. Acreage leased but not in production can be anywhere from $500 to $5,000 an acre based on activity in your area and production nearby.
In the end your minerals are only worth what someone is willing to pay for them. The only way to get an exact figure for what they are worth is have buyers place an offer. We recommend contacting The Mineral Market as they have thousands of buyers who may be interested in making you an offer. It’s free to list your minerals and you pay nothing to sell your minerals.
WANT MORE INFORMATION ABOUT YOUR MINERALS?
Fill out the form below and we can go over any questions you may have regarding your mineral rights within 24 hours.
Numbers indicated above are based on average well figures for producing horizontal wells in the SCOOP formation as of 2019. Common factors including decline curves, commodity prices, new drilling technology and engineering techniques, etc. can skew estimated royalties and value of your mineral rights.