Oseberg data highlights intentional land strategies, reentry into legacy formations, and value-focused leasing in a constrained market
As oil and gas operators navigate rising costs, softer commodity prices, and tightening margins, Oklahoma’s leasing landscape is undergoing a strategic transformation. While overall deal volume may appear muted, recent activity reveals a more deliberate, focused approach. According to Oseberg’s Unexpected Value Analysis and Time Series Analysis (as of June 1, 2025), along with lease instrument data from the past six months, the last 45 days have been marked by calculated land positioning, stealth acquisitions, and a resurgence of long-dormant acreage. What we're seeing isn’t residual movement, it’s intentional deployment.
Three counties tell the story of Oklahoma's evolving land strategy:
Custer County is seeing depth-stacked mineral buys in Township 15N-19W, plus structured leasing campaigns in 13N-18W that prioritize long-term value over quick flips.
Carter County activity in Township 01S-03W focuses on leasing designed to support near-term permitting.
Roger Mills County just broke a 13-year drought with the first Cherokee formation permit in Township 15N-24W, Section 14—suggesting operators are testing new technical hypotheses based on reprocessed seismic or legacy core reinterpretation. The Cherokee formation hasn't been actively pursued here since Anadarko's 1980s work and a brief Chesapeake campaign in 2012.
The mix of land instruments offers further insight into the operator’s intent. Lease-only townships point to grassroots horizontal development, while deed-heavy areas suggest early-stage mineral speculation or fund positioning ahead of lease flips. In contrast, townships like 05N-04W in McClain County and 15N-20W in Custer County, where leases, deeds, and assignments converge, indicate diversified and full-stack consolidation aimed at long-term control. Notably, previously inactive sections in Love, Stephens, and Roger Mills are coming back online with new leases, deeds, and permits emerging after decades of dormancy.
Operators are taking action. Meadows O&G has returned to Caddo County with new lease and acquisition activity for the first time in over six years. Mewbourne and Camino appear to be advancing toward pad-scale development, while Continental Resources is actively positioning across Carter, Stephens, and McClain counties. Figure 1 highlights the TGS Well Data Analytics application displaying 2025 approved permits from these three operators, overlaid with all Oklahoma lease activity from the past two years.
Using TGS data, we analyzed production type curves for a set of Mewbourne-operated Cherokee wells drilled between 2021 and 2024 near the new permit clusters. With an average lateral length of 10,000 feet, these wells demonstrated peak rates of approximately 1,200 BOE per day. The renewed focus on legacy formations like Cherokee, Morrow, and Hunton, many of which have seen little to no activity for decades, underscores a larger trend: the rocks remain the same, but enhanced models, improved data, and rising confidence are reigniting development. 
Figure 1. Well Data Analytics application displaying 2025 approved permits by Mewbourne, Camino, and Continental, overlaid with all Oklahoma lease activity from the past two years.
As 2025 unfolds, Oklahoma leasing reflects a broader industry shift, from widespread land grabs to focused, value-per-acre strategies. The WDA application, powered by Oseberg, gives users the tools to track lease filings in real time, benchmark strategies against top operators, identify high-interest areas, and evaluate the economic viability of any position by layering in permits, performance, breakeven prices, and IRR models. In today’s volatile market, data-driven leasing isn’t just a competitive edge, it’s a necessity.
To explore TGS Well Data Analytics lease analytics or schedule a demo, contact us at WDPSales@tgs.com.
