Replies to This Discussion

landownerPermalink Reply by king john on October 6, 2010 at 5:15

i believe a patient mineral owner could get 5k. has your friend heard anything from paloma? i recently heard of some competition , in the near about area, between those two. 3k is great money and the 25% is great too. i just hate to see anyone leave money on the table.
kj

Permalink Reply by CheetahBait on October 6, 2010 at 9:02

I would recommend going with the $3000 per acre and trying to get a well drilled. The royalty is right. I'd accept it. Please let us know if the lease goes through.

How much Haynesville or Deep Cotton Valley drilling is going on around Shelbyville? Thanks.

PF

landownerPermalink Reply by True Texan on October 6, 2010 at 11:12

Taking into account the following I would ask them for $5,000 per acre and 25% R. They must need your friends land to make a pool or get themself into one that they know is going to be drilled soon.

PetroHawk - Pulled most landmen for Shelby about six months ago.
Not many people are getting approched for leases right now because NG is so low.
Lots of drilling in your area.

P.S. The worst they can say is no and you are back to $3,000 per acre.

Good luck! Please keep us posted.

landownerPermalink Reply by Cactus on October 7, 2010 at 3:57

We signed with XTO last week for 3K per arce. We think it is a fair bonus and are more interested in getting a well drilled than in the signing bonus. Hopefully everyone in the pool area see's it the same way and we can get on with the wait, of getting on the list for drilling.

Permalink Reply by Endwise on November 1, 2010 at 9:16

Same here Cactus! I want a well more than a bonus. I must admit, the offer couldn't have come at a better time, and I wouldn't have signed if I didn't need it, but now I'm glad I did. I'm a betting person and I bet it would get me into a Unit faster. Guess I'll just have to come back in a few years and let you know if it pay off or not.

Permalink Reply by KatOnTheRun on October 25, 2010 at 3:28

Thanks to everyone for their comments! I have pass this info on to my friend.

Permalink Reply by cynthia lynn graven on November 12, 2010 at 12:09

Good Afternoon, my family was contacted reguarding 46 acres six miles southeast of Shelbyville, I know it was a part of the G Neil survey, at one time; my great great grandfather was J H Jordan who had once owned a big share of it. The land company was in a hurry for info, up until last week; he said things had slowed and he would get "back to Us". How is it going with your friend? And if I have any "Kin" reading this.. I would like to say "Hello"! Love ya!