Replies to This Discussion

Permalink Reply by Iris on January 31, 2009 at 2:48

You are so funny! The name they gave me could be interpreted as female. Course it could have been from some online purchase. Normally I don't answer calls I don't recognize, let it go to machine. Guess I have learned my lesson, & be more aware of possible ID thefts or other god knows what.

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Permalink Reply by Bobi Carr ("parker") on January 30, 2009 at 15:39

Caddo Tiger,

Ah, in this turbulent market it is good to know that such magnanimous corporations exist. How amazing that they would want to share in our sorrow. I'm just giddy that they would they would pay such an exorbitant amount for something that surely must be worthless in this horrible economy.

OOPS, I SURE HOPE I DIDN'T MISPLACE MINE AT THE BOTTOM OF THE CAT LITTER PAN. THAT WOULD BE A TRAVESTY!

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Permalink Reply by Rod B. on February 4, 2009 at 9:51

We have been offered $3500 @ acre in section 26 DeSoto parish from Chesapeake.

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Permalink Reply by insomniacnla on February 4, 2009 at 13:44

Rodney,

Do you mind saying which part of DeSoto Parish you are in? There are several section 26s. I am in northern DeSoto.

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Permalink Reply by fox on February 4, 2009 at 14:15

He is located in section 26 11-15.

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Permalink Reply by chattykb on February 4, 2009 at 17:45

Check your in box.

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Permalink Reply by fox on February 5, 2009 at 6:16

hey chatty--thank you. I did check my in box.

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Permalink Reply by chattykb on February 5, 2009 at 12:33

:-) Fox, that was a reply to Rodney Fisher, but you can check your wall now, I left a question for ya.

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Permalink Reply by Darrin McClary on February 10, 2009 at 6:59

This is my first post and I have a few questions. Forgive me please if I don't have this in the correct category.

I have read many posts on the lease bonuses and royalty rates. The question I have is, what happens if you do not lease? Meaning, you turn the landman's offer down and none show back up but eventually they drill in your section. Do you collect 100% royalties less all the fees I have read about?

How much of a section must be leased before they can drill? I have heard all sorts of numbers but most frequently 51%.

What if they drill in a section that is just adjacent to your property? Wouldn't there be gas pulled from beneath your property...wouldn't you be due royalties?

Is there a FAQ's section of the website that I have should have looked at before blabbing my questions?

Thanks,
Darrin

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Permalink Reply by The_Baron on February 10, 2009 at 8:15

search "force pooling", it has been covered at length in other discusions.

As far as drainage is concerned, if units have been established you receive royalty on production in that unit.

§14. Drainage of fugitive minerals; exclusion of liability; exceptions

A landowner has no right against another who causes drainage of liquid or gaseous minerals from beneath his property if the drainage results from drilling or mining operations on other lands. This does not affect his right to relief for negligent or intentional waste under Articles 9 and 10, or against another who may be contractually obligated to protect his property from drainage.

Acts 1974, No. 50, §1, eff. Jan. 1, 1975.

Required setbacks from unit lines are set by LOC to help prevent drainage. But keep in mind you don't own the minerals beneath your land, you own the right to explore for those minerals and reduce them to possesion.

PART 2. REDUCTION OF MINERALS TO POSSESSION

§7. When minerals reduced to possession

Minerals are reduced to possession when they are under physical control that permits delivery to another.

Acts 1974, No. 50, §1, eff. Jan. 1, 1975.

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Permalink Reply by Teresa Cathey on February 10, 2009 at 7:29

who is leasing in the Sabine Parrish area?

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Permalink Reply by Fierofly on February 13, 2009 at 2:35

19N-13W sec 16, Southern Star, Gas Well Pad is being Built, 25% and $750 per acre, Ive got 3/4 acre. Any advice?

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