Companies pay more than $1M to drill on Oklahoma land
June 21, 2017
OKLAHOMA CITY (AP) — Two oil and gas companies have each paid more than $1 million for the right to drill on state-owned land in Oklahoma, the highest payouts for the state since at least 2011.
Paloma Partners IV, an operation by Houston-based Paloma Resources, has spent a total of more than $1.1 million to gain mineral rights in Kingfisher County, just northwest of Oklahoma City, The Oklahoman (http://bit.ly/2rRq4zv ) reported.
Another company won 40 acres of drilling rights in Garvin County at more than $13,000 an acre in February. And Tulsa-based Armor Energy LLC paid about $6,500 per...