It's a windfall,educate yourself surely..but hire a top lawyer
It seems like all landmen are getting a bad rap.I've had to hire landmen since 82 for oil and gas leases every since my Ol'man died and he did'nt tell us anything about O/G or our familys interest.Best money I've ever spent was on a CPL.... and their advice?...Hire a top lawyer.MY advice? hire a top lawyer.When James Mcconnell comes on this website(best advice I ever got)and gets little respect it starts looking like paranoia is taking a big hold.Back off on the paranoia. Educate yourselves as much as you can but when your ready to sign a lease take a deep breath and hire a professional.This is something you don't want to triffle with. I never could afford the fees but it was money well spent,we got it all back.
Views: 133
Replies to This Discussion
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Permalink Reply by Renee S Cd1 on -
I'm sure all of us agree it's money well spent, but respect has to be earned.
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Permalink Reply by po boy on
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Speaking of landmen, Our resident landmen seem to be noticably absent today.
Wonder if they are just busy (good) or being pulled out (bad)
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Permalink Reply by Renee S Cd1 on
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Noticed that! They're probably all together, comparing sales.
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Permalink Reply by Renee S Cd1 on
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Simba, po boy and I don't mean to make light of your thread. At this hour of the morning you just happened to get stuck with us. The landmen on this site aren't bad guys, they see both sides and go out of their way to be helpful. I'm sincerely glad you had a good experience with Mr. McConnell. I notice you're from Atlanta GA. What part of the Shale are you leased in?
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Permalink Reply by Snake Stewart on
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I have found during my feather ruffleing days on this site that if you are respectful of others , generally speaking , you will find that most will treat you with that same respect. Not always but most of the time. If you start a post with spew it will come back on you 7 fold. There is no doubt that some of the pro's have a huge advantage over the novice on this subject knowledge wise but that certainly doesn't mean that the novice are stupid or easy prey either.Once someone crosses the line of selfrighteous indignation it can be a long trip just to get back across that same line.Not to say it can't happen , its just hard.
No matter how hard someone may be trying to help , if they are viewed as being from the " Dark Side " , they will have a difficult task ahead of them.Its not fair but then again neither is life. Ask anyone on this post that signed 2 months ago and see what they say.Most of the Pro's will part ways with us plain folks right about here.Because this is how they have plied their trade for many years, they have to justify this behavior or loose credibility . They couldn't say that they feel guilty about what some of these landmen are doing because thats just how its done. Not all are in the ugly boat but the industry as a whole is viewed like that at this point.Lose / lose for them. In our quest for self preservation we must view the Pro's with a certain amount of disdain or a lack of trust. If you didn't then you have probably already signed and you do now.
I have said on numerous occasions that I would rather have to say I am sorry tomorrow then to have to say , Oh No, today! This is not the best approach, I am sure, for the masses. Sofar it has raised the stakes in my community considerably compaired to where the O&G's would have liked to have kept them. At the "victimized" level. See how easy it is for people on my side to slide down that path ? It's just human nature. An ugly part but human nature non the less.
Thanks for the post and have a good day.
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Permalink Reply by Simba on
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Renee-
At present it's the shale to the southeast along Ms/La border,that deep dark monstor that eats drill strings,busts casings,swallows any tool you put in it known as the TMS.I lived in S'port a while and I miss the short drive to Toledo Bend and the damn fine people.I can't help but follow what's going on up there,quite a phenomenon. Since I'm in Atl and our minerals are elsewhere we have been in the position of hiring local CPL's and I think very highly of those who did important work on our behalf.There are good and evil individuals in any industry, IMHO, wholesale villification is rarely justified.
Snake- I appreciate the post
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Permalink Reply by Renee S Cd1 on
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I went to a Toledo Bend assoc. meeting recently, they are great folks who would give you the shirt off their back. They're trying to be pro-active with that weed that's completely taking over the water.
The TMS sounds like a big production-cost eater, too. I'm curious, do the O&G companies pay less bonus/royalty because of increased production costs?
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Renee-
Encore Operating has just finished It's 3rd well in the play and has drilled the longest horizontal lateral in the TMS to date at 4200 feet and the well is waiting on a completion rig as of this morning.The good news is that they are 45 days ahead of the last well's drill log and the cost is that much less.If they can put economical production behind the pipe in this play then our bonus/royalty situation should improve.
It won't ever be anything like the HS but the estimates are 7-10 billion barrels recoverable from the TMS.The 2nd well cost estimates were anywhere from 10 to 15 million to drill and complete the well and then the casing parted and they were left with only 10% of the horizontal for production.As of now that 10% (300ft) is producing 50 bopd.4200 ft of lateral might bring this well in respectably.
The first well only attained about a 1500 ft lateral and initial production was 175 bopd.There again something got stuck downhole and they were'nt able to extend the lateral.
A forth well has been approved in Amite county and will spud soon.I hear Encore is still leasing and some speculators are starting to move into the area.
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Permalink Reply by bullbayou on
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If anyone needs help in leasing their land or whatever, I would strongly suggest they hire an experienced landman instead of an attorney, because they would be much more knowledgable of your needs. Most attorneys are so tunnel visioned about what they think they learned in law school that they miss the big picture. All of the lease clauses they provide you are basic clauses they provide for anybody, but everybody's situation is a little different. So don't just think that someone that has "esq" behind their name will be any better for you than joe landman. And you can get them without that ego that most attorneys have.
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Permalink Reply by bagger on
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The only people you can't trust more than a landman is A LAWYER!
We know up front the only things they want more than air is your money.
Three sure bets... A rattle snake will bite you... The Saints will never win a superbowl.....A lawyer will always find a way to take you money...
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