The South-Central Oklahoma Oil Province Play, also known as SCOOP, is a southern extension of the Woodford Shale’s Cana Play, encompassing 3300 square-miles of south-central Oklahoma and with most of the interest focused on four counties: Stephens, Grady, Garvin and Carter. Here’s what’s important to know about this, though – as the South-Central Oklahoma Oil Province Play continues to evolve and expand, it is becoming more enthralling to additional oil producers by offering high yields or oil and condensate.
Ten Cow Holdings Fact Corner: With break-evens ranging from USD29 to 43/bbl, Oklahoma’s SCOOP Shale Play enjoys a reputation (as one of America’s hottest new areas for horizontal growth) that proceeds it, with more effective completion designs and core area development yielding a ~70-percent increase with regard to initial production (IR) rates (now competitive with rates for the Permian and Eagle Ford).
So how does the South-Central Oklahoma Oil Province Play apply to mineral rights?
If you own mineral rights in the South-Central Oklahoma Oil Province Play, there is a possibility you’re sitting on a proverbial gold mine. That’s right: in this scenario, your mineral rights are connected to one of the largest deposits of gas and oil in the world. As such, you’re faced with two choices – insist that future royalties come directly to you or sell for a lump sum to an interested buyer based in the area in which you own minerals.
Before we go any further, we want to share with you some interesting statistics concerning the South-Central Oklahoma Oil Province Play.
- The region encompassing the South-Central Oklahoma Oil Province is known as the “SCOOP formation,” and this formation produces copious quantities of oil and gas in over 12 counties in Oklahoma (the most important four we highlighted above).
- There have been more than 1,475 wells drilled in the South-Central Oklahoma Oil Province Play formation, with an average daily gas production of 409 Mcf per day and oil production of 32 barrels per day.
- The cumulative amount of gas produced from each well on average is 1,858,331 Mcf; average cumulative oil is 96,745 barrels.
- The average well in the formation generates about $86,627.63 a month based on average oil prices of $60 per barrel and $2.25 per Mcf gas pricing.
The right company with the right experience in actively buying mineral rights and oil/gas royalties in the South-Central Oklahoma Oil Province Play can value your mineral royalty and even, in some cases, override royalty interests to purchase those assets at a competitive price. You can receive a lump sum upfront, which allows you to realize the value of your asset – right now.
If you are looking to sell mineral rights, call Ten Cow Holdings today to discover why we’re one of the leading oil and gas mineral rights entities in the country. We can be reached at (210) 960-1564.