Replies to This Discussion

Permalink Reply by Cheerleader on March 15, 2010 at 12:43

J.R. Ewing...As large as your Southfork Ranch!! You should be looking for oil. Isn't that what you Ewings do???

Permalink Reply by k on March 15, 2010 at 13:49

I am looking for advise and not to sure where to post my question.
I own 70+/- acres of minerals in san augustine. I have been offered a lease and I am just not sure what to do.
Do I need an o/g lawyer? Abstract 142 is the location and I have been reading these blogs for a while. From reading all of your posts it seems as though the rights are worth something but I am just not sure how to find out if the offer is the best. My Granddaddy would have had fun with all of this. I do not want to mess this up.
open to any advise, and thank you.
k

Permalink Reply by reallyoldguy on March 15, 2010 at 13:55

I would ahve an atty. negotiate a lease for you. Personally, I use Rebecca Brightwell in Lufkin. She's very knowledgeable as to the going rates in your area. Just remember. Your bonus money is just that; bonus money. There are other important things to negotiate in a lease, as well. Most importantly being your royalty percentage! GOOD LUCK TO YOU!!!

Permalink Reply by k on March 15, 2010 at 14:06

Thank you reallyoldguy. I am more concerned about the royalty percentage part of the lease. That is the part I know nothing about. Today I cold called a lawyer and just asked if he handled this sort of thing and he kindly said no. Then he gave me to the Same lady's name. I will Call her tomorrow. Thank you for your advice and I will take the luck!
k

Permalink Reply by RBH on March 15, 2010 at 14:09

Good Luck K!! glad you got an attorney to call. as has been said..primarily EOG leases in that survey..with 20% royalty and 25% royalty shown

Permalink Reply by reallyoldguy on March 15, 2010 at 14:12

You really do want good legal advice where leasing is concerned. You could be 'married' to your lease holder, and lease terms, for a VERY long time.
Rebecca works closely with most of the O/G companies. You'll find her very helpful. LUCK!

Permalink Reply by ALongview on March 15, 2010 at 14:00

I don't know the terms but EOG has the majority of the leases in this survey. That is important to know as well in my opinion.

Permalink Reply by RBH on March 15, 2010 at 14:01

survey 142 --leases show to be mostly EOG Resources and with 20% royalty..and it is directly East of the new Cabot permit for the Walter #1H; definitely use an attorney

Permalink Reply by RBH on March 15, 2010 at 16:17

J R EWING..
HAS IT BEEN FRAC'D OR TESTED?

Permalink Reply by reallyoldguy on March 16, 2010 at 13:32

RBH: Microseismisc Inc. was out on our property, last Friday, placing access points. Im about 4000' W. of the well. Looks like they're getting ready to start fracin' the Blackstone soon.
JR Ewing: Can you elaborate at all?

Permalink Reply by RBH on March 16, 2010 at 20:31

That is great news reallyoldguy!!

Permalink Reply by JWC on March 16, 2010 at 1:35

Thanks J.R. That is good news especially since this is the southern most (did I say that right?) well in San Augustine County. Good news for us southern folks I hope. Maybe others will follow.

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