Replies to This Discussion

Permalink Reply by keb on October 12, 2008 at 15:33

robert, what group are you in? and contact person for leader of the group? thanks

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Permalink Reply by Snake Stewart on October 12, 2008 at 1:50

Nobody knows until they honor the draft itself.There have been people across the road from each other that had totally different outcomes with their drafts.If they decide to honor it you will get paid.If they dont , you wont. There have been several threads started about the problems a draft can create and a big reason why I wouldnt accept a draft.Good luck to you and yours.

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Permalink Reply by HBP on October 12, 2008 at 2:38

Choice? What about trying to negotiate with another company instead of CHK? Whose brokers maybe had better authority to make decisions than Red River? (does Red River Land Srvcs even exist anymore?)

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Permalink Reply by MALCOLM WHORTON on October 11, 2008 at 16:18

IS it strange that the landman would tell you not to deposite your draft in the bank?But they would send me a real check by mail in 2 to 3 weeks.

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Permalink Reply by mike johnson on October 11, 2008 at 18:00

yes it is strange. Sounds like the landman is going to try and flip the lease and doesn't have an account set up to handle the draft maybe????

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Permalink Reply by shooks on October 12, 2008 at 3:24

We did not want a draft, we wanted the check. and with 2 weeks, we received it certified mail. The investment company wanted to put a 10 day hold on it, so we went to the bank in shreveport, and had them wire the money direct. and i guess it depends on which company you are dealing with. ours was jw porter

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Permalink Reply by HBP on October 12, 2008 at 3:33

KB,
Well, my response was a bit loaded. I have observed Red River Land and the warm bodies they sent out into the field and wasn't impressed.

But yes, companies divide up brokers into areas to have organization. Some of these brokers are groups that were thrown together and filed their papers just this year in Louisiana, and some are time tested land services companies that have been in the state for years. I saw a real disparity in brokers this year in NW LA. Some ethical, some not. Some trained, some not. But it is not always apparent on its face so landowners get burned by one green horn landman and resolve to throw out the baby with the bathwater just to be safe next time. That lack of trust stalls what could have been good deals, then economics change and alot of deals disappear - landowners get more confused.

A lot of brokers will get winnowed away in our current economic environment. Some just because of economics and others because they were excess fluff to begin with.

There will be some leasing in areas to be drilled, but like every other market in the world right now, more attention will be paid to how the suject lease is valued. No more competitve drives up into the 20k-30k/acre - not in the current environment. And if anyone can predict when the current economic environment will change - that would be impressive.

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Permalink Reply by Jerry Bruce on October 12, 2008 at 5:44

Ok look the Land Brokers have agreements with the companies but they do not exclusively represent for those companies, if one does not want the acreage for whatever reason then they try to flip it to someone else, the agreement basically states that the companies will consider any and all acerage within this area.

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Permalink Reply by Snake Stewart on October 12, 2008 at 8:47

I have it from a good source that for instance....BE USA uses Pin Oak as there agent.At the same time , PTHK uses them as well.Depending on what section they are leasing in depends on who they tell you they are leasing for,if they tell you at all.In this part of Webster they are leasing for BE USA.

Early on in operation "get it all before the market crashes" , it was discovered that several companies actually were raising the bids on each other without knowing it.They certainly couldnt continue like that even for the small amounts that they were paying.

If they didnt have a giant team meeting to split it all up early on , then every company involved has a different understanding of where the best parts are and we wont know for many years who guessed the best.Just doesnt sound right does it.

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Permalink Reply by ChelleA1 on October 12, 2008 at 4:07

I will post the outcome of the DRAFT in question later as it is honered or NOT by the bank I was told it would take up to 30 days to actually get the money.... If I were a nailbitter right now I'd have nothing left!!I think we'd be more fortuante if we were sitting on Gold itsself...and if the draft isn't any good-Hey it's been fun dreaming!!!

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Permalink Reply by Snake Stewart on October 12, 2008 at 8:52

Hey ChelleA1, If the draft isnt any good then you can do what we are doing around here. Waiting until the market corrects itself and stabilizes.Unless of cource they have enough money to just leave the leased acreage around here to come back up for lease again.The shale isnt going anywhere.May be someone totally different then the current players but someone will come for it. We dont have any better current options besides N/G. Good luck.

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Permalink Reply by ChelleA1 on October 12, 2008 at 14:19

Thanks neighbor I appreciate the reply as I understand from your post you hav'nt gotten anything yet I guess I feel lucky in a big way funny they said the shale was thin here yet they still wanted to lease...Makes one wonder I am one to believe that every time it comes an election year there is always upset in the market oh we do have a little more under our dirt it is the oil and it is very plentiful I guess it's all a game of patience ..

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