Replies to This Discussion

Permalink Reply by Tammy Brown on May 3, 2010 at 13:44

Ross,
The mere fact that you have been made an offer like that to BUY your mineral rights tells you that someone is very interested!! Do you think they would pay you that kind of money if they didn't plan on making it back double or more once drilling starts??? Chereno is a HOT area just read about the production of the wells there. I can NEVER understand why anyone would SELL their mineral rights. You can shear a sheep many times but you can only kill it once. You sell them they are gone forever and I guarantee you no one pays that kind of money unless they have some info on the seismic data on your property. You can call up EOG, or Perto Hawk or Goodrich or any of these companies that are drilling in your area and ask if they are interested in LEASING your mineral rights and you could make a NICE chunk of money from the lease. Just go online start typing in " How much are mineral rights being leased for in the haynesville shale areas, you will be schocked in LA as much as $6,000.00 an acre for leases. Why sell when you can lease for big bucks and get in on the royalties. Don't get the " I want it NOW mentality" Go on the TRRC website and look at wells approved in your area, that will tell you a lot! Also you can see who is drilling those wells , what companies and contact one of them if you want, although everything I've heard about Sonerra has been fairly good. But don't forget about your surface damages make sure your lease pays you "Fair Market Value " for your surface damages make SURE you get paid for surface damages!

Permalink Reply by RBH on February 17, 2010 at 8:05

maybe Cabot wants to drill where they have more acreage to drill and maybe they have lease expiration issues?

Permalink Reply by RBH on February 17, 2010 at 8:27

what they could possibly do:
Cabot could let the lease expire at the end of the extension

Cabot could ask you for another extension

Another company could "top lease" your acreage effective at the the end of the Cabot term

Cabot could simply release the acreage--and then another company could lease it--such as sonnera resources, pinnacle energy group, llc, petrohawk and eog all working together in an ami on the DEEP play

Permalink Reply by RBH on February 17, 2010 at 8:37

what I pulled showed you had given a 3 year lease of minerals with a 2 year extension with Cabot taken 2/08 so you have a while to go. Look at it this way..if the wells being drilled now are good and gas prices go up--the acreage becomes more desirable and more profitable down the road.

Permalink Reply by adubu on February 17, 2010 at 16:02

If EOG or anyother oil&gas company is the major company that controlls most of the acres in your area don't worry about your lease with Cabot -- EOG will include them as non-owner WI in the well and your minerals will get drilled in the unit

Permalink Reply by adubu on February 17, 2010 at 16:55

correct above I mean non-op WI ( non-operator working interest) not non-owner. Cabot would not operate nor drill the well but pool their lease with who ever drills the well to make up the unit. Cabot pays their % cost and the royalty to the mineral owner in their lease out of their % of wells production as RBH explain below

Permalink Reply by RBH on February 17, 2010 at 16:14

IF EOG permits a well with the Cabot acreage that you have under lease with Cabot--it will be after EOG and Cabot pool the acres together or Cabot assigns them and participates with EOG in a well--you will not be cut out and neither will Cabot; The current Permitted well does NOT appear to include your leases with Cabot and Cabot has told you so. I am guessing if you have teenagers..you are not old..so try to be patient, stay current with activity on this site. KEEP positive

Permalink Reply by jffree1 on February 18, 2010 at 3:21

I think you are right, RBH. Cabot probably still has drill some of the PXP acreage acquired in 2008(?). They don't have that HBP issue in Nac. right now.

Permalink Reply by j garrett on February 19, 2010 at 12:30

Looks like another Hassell Unit well is forthcoming as a new pad is being built near the #3 well. This might be the 4h, as the 5h is drilling now. The Hassell #s 2 and 3 are fracing (fracking?) right now. It looks like they are fracing them at the same time. Perhaps this is an experiment to see how it effects IP of both wells. The frac points of the two wells are as close as 95 feet apart. Curious why the adjacent Hill and Pop-Pop units, and the nearby Gammage only have one well each.

Permalink Reply by RBH on February 19, 2010 at 12:33

j garrett- also seems like Mora 827 survey heating up with both Petrohawk Petroleum Creek #1H and Sonerra Resources Standing Pine #1 off Baker Hughes 2-19-2010 report and new EOG Permit in same survey

Permalink Reply by j garrett on February 19, 2010 at 12:47

Samson's Silver Hammer horizontal haynesville well and Valence Operating's Walton, Hollis vertical haynesville well and their vertical Teutsch well are all between the Mora wells and the EOG wells. The Teutsch is permitted for the Haynesville, Travis Peak, James Lime, Cotton Valley, and Pettit stratas. I maintain that Valence is HBPing their leaseholds with deep verticals and maybe mapping stratas in advance of selling all or part of their holdings. They are de-risking the acreage to maximize their asking price.

Permalink Reply by RBH on February 19, 2010 at 12:53

j garrett-agree-valence will sale to someone--they do not appear to be drilling horizontals

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