Robbed by Chesapeak
We were offered $5,000.00 per acre by Chesapeak, near Blanchard, and then they went down the road, two houses down. and the people got $8500.00. We were robbed by Chesapeak. Would love to hear from more loosers.
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Replies to This Discussion
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Permalink Reply by po boy on
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I read abstract on this geology from a umiversity published in 2002. Keep in mind it is TWO MILES in the ground. Technology and natural gas prices just barely reached the point where it might be cost effective to go after it. It is embeded in a vien of shale rock that has to be broken up to release the trapped gas. Last I heard there were only one or two companies the have experience doing this. This is not simply a matter of poking a hole into an underground gas bubble. Unfortunately a very small drop in the selling price would make it worthless as fast as it became valuable. As I understand it.
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Permalink Reply by kfly on -
Most of the landmen are working people just like most of us are... trying to make a living. I know a few of them and I'm sure they don't go out to f#%& everyone that they can. That's like all these people that refer to the "Big O & G's". They are made up of working people like you and me. Do y'all think the CEO puts out a memo directing his people to screw the landowners?
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Permalink Reply by kfly on
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How do you know that the landmen knew the magnitude of this play? I bet they didn't and gathered information a little at a time just like we (the land owners) did. I imagine the landmen are given an area and a budget and told to go out and lease it the best they can.
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Permalink Reply by Grillin' - MmmMmm on -
What a lunatic. "raped by those landmen"..."taking advantage of those folks". Are you for real? The land leasing business is very simple: get the lease for as little bonus money as possible and with the lowest royalty. That's all. If I know the minerals are worth $1 billion dollars under your land and I offer you $100/acre and a 20% royalty, is that taking advantage or raping? No, that's smart business. You folks are so full of yourselves.
Part of me (a very small part) hopes that this play just washes out and is a big dud. Then all of the greedy folks holding out for the big payday will get left behind. Only because of attitudes like those mentioned above. Now the rest of me, the O&G guy, hopes the play pans out even bigger than Aubrey says it is and makes all of the gas companies gazillions of dollars. But this "raped" and "taken advantage of" mentality is sickening.
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Permalink Reply by Spring Branch,mineral owner on
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The fact is most of the early leases bought by the various O & G companies from 2004 to 2007 in SW Caddo Parish were bought as a Hoston/Cotton Valley play. The company that originally leased most of SW Caddo in T15N/R15W had a free hand @ leasing because there had never been any production in the bulk of 15/15. They drilled a handful of very mediocre Cotton Valley wells and quickly decided they wanted out of the trap they found themselves in. They shopped their acreage in about 20+sections to several O&G companies before they struck the deal with Chesapeake. You
gotta take your hat off to Chesapeake....They were just smarter than the rest and for sure had better science! I leased my 80 acres for $250 and 1/4, but not to Chesapeake because they only offered me 1/5 royalty. A different company gave me 1/4 royalty and that company admits to me today that they were just trying to get some Cotton Valley Acreage. Do you think that if Chesapeake knew then what they know today that they would have let my 80 acres get away from them when it's only about one mile from their best well yet???? I think not. They are in a business and they all do it the best they can. As the body of knowlege regarding the play they're in grows, they adjust accordingly. Is it unfair that they can adjust more quickly than the average man on the street???? Of course not. They're in the business of finding and producing oil and gas. I'm just looking forward to that well being drilled in my section and that first royalty check. Without the Chesapeakes, Petrohawks, Goodrich's, Exco's, Camterra's, etc. of the world, it would never be a possibility. I am absolutely not in the O & G business. The company I work for wouldn't know a working interest from a royalty interest, a drilling pad from a Brillo pad. I guess you could say that I am sick
of hearing from these immature folks and their sour grapes. Thank you, Lord, for the Haynesville Shale and all the O&G company dollars that are being spent looking for it!
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Permalink Reply by P.G. on
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Too bad the Lesion Beyond Moiety law in Louisiana http://en.wikipedia.org/wiki/Lesion_beyond_moiety doesn't apply to mineral leases. I can't imagine who lobbied to get that exemption for mineral leases passed.
If there was ever a need for such a law, I would think we'd see quite a few exercising it around here now, huh?
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Permalink Reply by Shaleguy on
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I'm not in the business, nor do I own any property - but I've got to tell you from the outside most of the people complaining on this site look just plain silly (and greedy). Get over yourselves! Educate yourself - get the best deal you can and then stop whining. The oil companies work for the shareholders. Their job is to get the best deal FOR THEMSELVES - NOT YOU! Not too long ago the highest royalty was 1/8th! And, lease bonuses averaged $50 an acre on the good plays. You guys should be happy about your good LUCK and quit complaining.
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Permalink Reply by P.G. on
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No, greedy are those who are holding out for $30,000 and 1/3!
I wouldn't call someone who got a couple of hundred bucks an acre greedy!
Unless I was a landman maybe!
Those people sound like anything they offer a land owner for his minerals should be considered a gift of generosity, so it seems.
And I suppose that may be so considering if the landowner doesn't want to deal, they'll just take them anyway whether he likes it or not, huh?
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Permalink Reply by Snake Stewart on
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What would someone waiting for $40,000 and 40% be ?
If you knew anything about the Barnett and the bonuses there, verses here you wouldn't be thinking us as greedy. By the way the 40% was a joke. I guess.
Look , since the day that my eyes were finally opened to the facts of shale life , I have been on a quest to break the O&G's. Will I be able to do this ? Certainly not ! But I will continue to scream about the value of our properties and try to force people to see the truth.We are getting hosed when you figure the actual value of our land.
$27,500 is about the most I have heard of for a lease on the Barnett. The Barnett holds no more than 20% of the gas that the H/S holds. Thats roughly 1/5 of H/S. Simple math shows that $15,000 is a ridiculous amount for the H/S. Not because $15,000 isn't a huge amount of money because it is but because it is way short of the actual value.
Would you pay twice what the sticker price was on a new vehicle ? Of course not , that would be sheer stupidity on your part ! Why then would you be happy with 1/5 the value of your signing bonus ?
I stated in another post that people that were happy one month ago with their decission to sign aren't as happy as they once were about their decission. For every person that you can show me that is happy about that decission , I can show you 50 that aren't .When the bonuses start to sail past the $25,000 mark , many of the $25,000 and below are going to start second guessing their decissions! Not because $25,000 isn't a ridiculous amount of money , because human nature dictates that we are never totally happy if someone else gets more then we do.Especially when its a lot more.
Being informed and strong willed enough to try to take advantage of this life changing opportunity shouldn't be looked upon as being greedy.The O&G's are making the most of it , why shouldn't we ? It is my gas for Pete's sake ! Looks more like making the most with the cards we are dealt. An informed consumer will almost always make the best decissions. Especially when they do not allow themselves to be rushed.
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Permalink Reply by BirdDawg, plain ole' idiot on
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Shaleguy,
I have been involved in this business as a working interest owner and a royalty interst owner for about 10 years now. And I have never, in that time frame, encountered 1/8 royalties or $50/ acre lease bonuses, at least not by ANY reputable company. I am not advocating excessive lease bonuses, unless the mineral owner wants that. That is their own opinion. And it is worth to them what they will take, no less. And they have that right, because they are the owner of the minerals. If you are not in the business, or own no minerals, how can you opinion be very important to any people that do have a real interest? You are entitled to your opinion, and I respect it. Thanks for posting. I guess that is what this forum is all about. But I would like to know, if you have NO INTEREST, what makes you "SHALEGUY"?
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