Replies to This Discussion

Permalink Reply by MARG on January 25, 2010 at 8:20

Etola, is the land near FM 139 and Tenaha Creek Crossing (just south of that) in the area of the Castleberry and Ashton included in the area of the well on the govt. land? It , I think, was in the seismic work about two months or so ago. They phoned me they would be there working; however, I realize that they make several trips. That land is unleased. There are approx. four or five families of land there and USA Land. Ellora has asked to lease in that area as they had it once before. I would like to get a decent lease; I suppose when we all release, we shall have to wait to get in a well as they will drill up old leases first unless we were really blessed. I do not have any mineral maps for that part of the country. Thanks!

Permalink Reply by Rodney Anderson on January 25, 2010 at 12:35

Has anyone leased in this area recently? If so what were the terms.

Permalink Reply by MARG on January 25, 2010 at 14:10

Rodney, some who leased north of the lake on FM 139 around Ashton in the list that was on one of these notations (several names). One called me about price of lease, other items, but was willing to lease for only $500 as they had told her on the telephone that they would give her that, and she had the idea that there was a rush to do it. She is across the U.S. and had no idea of the shale, and other things that Shelby is now appears to be blessed with, etc. I explained to her that since she did not know that she should not hesitate to talk to them and tell them that that was too cheap. She has lived out in the northwest for several years with health too bad to return to Shelby even for her brother's funeral, etc. So, I felt that she did not have a chance to get a good lease. Her conclusion was that she was a woman of her word and she had told them she would accept the deal, etc. so she should go through with it. Seems five hundred is the recent offers; those of us who had been told would get the good deals who got caught in the crunch, really lost a lot. I suppose it is a COL as it is definitely not a LOL!!!!! Perhaps it will pick back up some. Maybe someone will get a gusher and will cause leases to increase. If you get a good offer moneywise and good provisions, let me know as I have unleased minerals there too and would love to see them become royalties. LOL

Permalink Reply by Etola on January 25, 2010 at 18:17

The lease I am familar with was a 3 yr lease and 1/4 royalty made with CHK on Feb 09. It was a big block of land in A Castleberry and E Hammers surveys. It seemed to cover all the issues so it was probably handled by an attorney. I don't know the bonus amount, but I would bet at least $1000.

MARG, this property is about 2 miles north of your interests. I think CHK has you surrounded! That could be the reason Ellora wanted to release you.

Permalink Reply by MARG on January 26, 2010 at 6:59

Ellora did not drop us; our lease was up. I like the gentlemen who is in charge of the company there. His family lives fairly near me, etc. He has been to my home, my son liked them, etc. My cousin has been asked more than I as I was totally not interested until I had seen further, etc. Another cousin and her in-law has land up by Ashton Hill that is not leased. They talked to her once, she missed them the next time and has not heard anymore. Our lease expired very soon after the crunch. Actually, big bucks had been talked-------then the FALL!!!!!! Glad I do not get too excited as I believe in pleasant surprises not bitter disappointments. I feel that had Chesapeake stayed there that perhaps some of the other companies around like Ellora and others might would have had joint venture wells, etc. I will be watching to see if another company or individual tries to lease it as they might want a profit and lease it to sell to Chk. LOL
After the big sale, Ellora should have more drilling money; however, it is getting totally surrounded down there by Chk. LOL Thanks!!!!!

Permalink Reply by cicero on January 26, 2010 at 3:52

Etola, thanks for your input. I live out-of-state and I really appreciate your update. My family has leased with CHK in that area and we're trying to stay informed.

Permalink Reply by Etola on February 15, 2010 at 17:16

Cicero, CHK has filed 2 permits for HS wells in the H. Ashton survey and S. English survey. It looks like the 2 wells will be on USA land between their Harvey 1H well and FM 139. These surveys are about a mile or so north of JW Harvey survey and MD White. They will not be visible from FM 139. They are getting closer! Maybe the next well they permit will be yours. I still believe they will permit the area south of there because they have all that area leased until 2011 and made a big investment in that area in 2008.

Permalink Reply by cicero on February 16, 2010 at 4:00

Etola, thank you so much for this information. It's getting exciting as they get closer to our leases which are in P.W.Harvey, G.H.Patterson and M.D.White surveys. We appreciate any information in this area that you are willing to share with us. Thanks

Permalink Reply by Etola on February 16, 2010 at 5:43

I noticed I had put JW Harvey and I meant PW Harvey. You are right about it getting exciting. I had some land on FM 139 in Huxley surveyed last week and the surveyor put out some stakes with pink ribbons on it. My neighbor across the road thought it was being surveyed for a well. That's how rumors get started! Ha! Everyone is waiting for the move to Huxley. It may take a couple of years.

Permalink Reply by DJG on February 16, 2010 at 5:35

Here's the links to those 2 new CHK wells in that area:

Blankeship Creek FED DU 1-H:
http://webapps.rrc.state.tx.us/DP/drillDownQueryAction.do?fromPubli...

USA FED DU 1-H
http://webapps.rrc.state.tx.us/DP/drillDownQueryAction.do?fromPubli...

Permalink Reply by GoRicky on February 16, 2010 at 12:13

I don't hear about landmen pouring out of the courthouse & lease bonuses going up. It feels like the co.s keep landmen around & they call... but the co.s just keep drilling old leases. I heard Ellora is holding out for a fortune & I guess whatever co. finally gets their ac., THAT co. will be busy (& not buying leases) for a while!

Permalink Reply by Etola on February 16, 2010 at 16:22

That's true, Ellora owns thousands of acres both in leases and HBP units. I'm not sure though that they are the ones holding out. Devon was interested in their holdings but decided to pass. Chesapeake's deal in 08 fell through on their end. I don't think Ellora really wants to sell. They can make more $$$ by JV with bigger companies that have equipment to drill the HS. But they have proved to be a strategic O&G company and are still acquiring leases as we sit here and discuss their business. I know that, for a fact, but they are not paying big bonuses and people are still signing the lease. I also know for a fact that if I could lease my land right now, I could get $2000 an acre from Paloma. I think as time goes by, bonus offers will continue to grow. I talked to ShelbyCounty Clerk a couple of weeks ago about the upcoming election and she said they are swarmed with landmen every day.

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