Replies to This Discussion

Permalink Reply by Frank Coday on August 15, 2010 at 4:46

Jffreel, Yes, balance due in 13 mo. @ end of old lease. Devon making offer. Don't know survey, But it's about 6 miles south of Shelby Co. line near Hwy. 87.

Permalink Reply by jffree1 on August 15, 2010 at 5:23

Thanks, Frank. I am guessing that the royalty offered would be 25% (since that was what Devon was offering in 2008 and I doubt that the lessor would accept less now)?

If the lessor is not of a gambling nature, he could take that offer. It is very good for an unproved area.

Or, he could choose to wait until nearer to the expiration date of his present lease and possibly get news of well completions in his area (that may or may not have an impact on offers in the future).

It sort of looks like Devon may either want to postpone development until gas prices improve or they aren't certain of getting all their leasehold HBP in the primary term. It is a gamble for lessor to wait in the sense that, if there are poor well results in the area, all future offers could disappear. I'm a bit of a gambler and I would choose to wait at least until the end of this year.

Permalink Reply by Joanne W. McBride on August 18, 2010 at 10:37

I think it is either the Richard Slaughter or Richard Haley and the offer is by Devon if it is where I think it is!!

Permalink Reply by mike vickers on August 24, 2010 at 15:59

Hello Marie LaVue.......Paloma has offered 5000.00 ac and a quater with a 3 year lease with 2 year option for my land in the Haley and said they were not interested in the Slaughter at this time. I have interest in both surveys. They told me 15% up front and the other 85% is due Sept. 18 2011 unless a well is drilled before that date.

Permalink Reply by mike vickers on August 24, 2010 at 16:06

I haven't heard anything out of Devon since I signed with them in 2008. Paloma is the only offer I have received so far. It is hard to pass on a deal now to wait on one in 13 months. But.....Southwestern is drilling on the old V8 ranch behind the old ranch house and they have 2 more locations finished and a 3rd started, all on the ranch property, that is 4 total, they must like something they have seen. Whats better is the pipeline on 353 and 87 belongs to them. $$$$$$$ is what it looks like.

Permalink Reply by Joanne W. McBride on August 24, 2010 at 16:08

Glad to know exactly where it is! Where is your land in the Slaughter? Didn't know you had any there! Never heard of Paloma -- where are they located?

Permalink Reply by Frank Coday on August 25, 2010 at 4:20

Paloma was formed in 2004 and has oil and gas exploration and development operations in the Haynesville, Barnett, and Eagle Ford areas. Home office in Houaton- their web site shows a Center office at 109 1/2 Shebyville, St., Center Tx. 75935, 936-598-7766.

Permalink Reply by Fred W. Smith on August 26, 2010 at 8:22

hey Mike, good to see your knowledge on the screen. Haven't been contacted by anyone on property on Reeves Rd. Lease has one more year. Know of the Hall pl but was told that there is one staked out either starting or ending on my north boundary on Nat For Land. Do you know anything about that?

Permalink Reply by mike vickers on September 10, 2010 at 8:18

Mr Smith i have not heard anything about a pipeline lately. At one time I was told of one that was to start on National Forerst land above you and across Patroon Creek from where old picnic tables were, just south of Sexton on 87. That line was going to come down the Reeves road and tie into the Hall PL along with the one they are getting ready to start laying across 87 to go to the well they are drilling now in National Forrest on west side of 87 south of Sexton. I think that once these lines are laid and have production in them you and others in this area will be leased again for drilling. You cant move the gas without the PL's.

Permalink Reply by darla kaye low sepulvado on November 3, 2010 at 5:59

I'm an heir of the Eli Low survey, I'm wondering with all the activity going on around fm 2928 why I haven't been contacted about leasing, do you know who to contact.

Permalink Reply by jffree1 on November 3, 2010 at 6:59

The wells have been disappointing.

Lacy Operations
www.rlacyinc.com

You will find contact information there.

Permalink Reply by Joe King on August 25, 2010 at 10:25

I got a question for some of you that have some experience in this , I have 200 acres in sabine co, 90 minerals, the other was from Temple 25 yrs ago, and they retained the minerals, does this include the haynesville shale minerals also, since it is so much deeper. Just asking if anyone knows how this works.

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