Lease or be forced pooled?
Once you have recieved a notice that you are to be forced pooled, I understand that you can still sign a lease with the drilling company. My question is: Can you still expect to recieve a lease bonus? If so, is this considered holding out for an "eleventh hour" bonus amount ? We have a small amount of acres in a group consisting of the last 40 acres still holding out in a section in Blanchard. All offers have been pulled off the table. Would it be correct also to assume that we have no leverage since the majority of the section is under lease? Too tired to make sense any longer!!!!
Views: 112
Replies to This Discussion
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Permalink Reply by Bobi Carr ("parker") on -
You've waited this long. Why not wait for some production numbers now.
They may think that they can really lowball you then if they are only drilling a vertical well. They know the numbers wont be good on a vertical well, but it will hold the other leased property by production.
I don't have any crystal ball, I am only giving you my uneducated opinion. Order one of Shale/Geo's maps and then you will be armed with some real information.
If they agree to your terms, hire a good oil and gas attorney to review you lease. Look for someone who is AV rated in oil and gas law.
With 40 acres, you could stand to gain or lose some "real" money. You've held your ground so far.
Get yourself some real "expert" advise (i.e. an attorney and the geology that you can order on this site from Jay) then make a decision that is influenced by people who can really help you.
Not just someone offering you their humble (less than expert) opinion such as myself.
GOOD LUCK TO YOU. I HOPE YOUR WELL IS A GUSHER!
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Permalink Reply by Kat S8/T18/R15 on
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My bad!!! Of the 40 acres holding out, we have only 2 acres. Now that I am back in town, I am finding out that the 40 has fallen to 20 acres unsigned. We are thinking now to sit it out for a while since there is yet any proposed drilling in our section. Maybe even thinking of riding it down. Do you have any experience with this? Do you think that with just 2 acres we should accept a reasonable offer or sit tight and see if the bonus money goes up?Thanks, Kathy
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Permalink Reply by boo on
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I just found out that I was forced pooled. Yes the well has been drilled. Yes I can still sign a lease but nobody but the original oil co. has yet to offer me anything. The land that i own is under an acre. I was told by the oil co. that I was on the backburner cause they had to get other leases signed. They are not worried about me, i guess cause its not much land. The lease offer they offered me 1st was $500 and then went up to $1000, but I have not seen anyone yet to this day and its been 2 months. I talked to my lawyer yesterday and he said that I probably needed to take this offer cause It is not good to be forced pool. That I would never probably see any money if I was forced pooled because every Well that they add, I would have to pay my portion.
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Permalink Reply by boo on
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i had a lawyer look at this and he called me back and told me I was forced pooled. No I never received any kind of letter from the Office of Conversation just the notice for the hearing back in March or April.
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Permalink Reply by boo on
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Nothing from the operator to consent or non-consent
I do know of one that is fixing to be in the same situation.
the production rates are not good, the landman told me that this was a small producing well do to the small pipeline.
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Permalink Reply by J Todd on
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Are you in Caddo parish? If so, what Section, Township, and Range. Our unit has already been forced (Sec 28, 19N, 15W). I talked to the geologists who work for Goodrich because Goodrich is drilling the well. We received several letters from Goodrich's attorneys in Lafayette re: the forced pool. When I spoke with the Geologist co. and told them I was interested in leasing, they offered to have someone from Goodrich call me. We'll see.
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I understand the O&G company has to make a final offer from the legal department before sending notice of force pooling. Can someone verify this?
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I would at least think that some notice by mail would have to be issued to mineral rights holders if force pooling had taken place.
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I'd be curious to know that myself. Although I did receive offers from a couple of companies for leases, the company that force pooled my interest was not among them.
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Permalink Reply by jkw3 on
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Not correct. There is no requirement that the operator make a lease offer to you before they apply for establishment of a unit and force pooling of all interests within the unit. The notice reuirement is that all record title owners must be notified of the proceeding.
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Permalink Reply by Rick on
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Kathy, I am in a similar situation except the well is being drilled and not finished yet. I have some of the same questions and issues. I received a letter from Chesapeakes attorneys dated May 15 (Pre-application) telling me of their application to "force pool" and unitize the section for the drilling of a specific well.I had the right to call a guy at their office and express any concerns, which at that time the HS was still getting started and I didn't realize any concerns just like alot of people that leased low didn't realize any thing out of the norm. Then later I got another paper dated May 29, from the same attorneys letting me know that they were filing for a permit (Application) to drill and then later I got a legal notice dated June 10 of a hearing in Baton Rouge on the matter.
The rig started drilling around July 12-15 and I have not heard another word from anyone. I have not received anything about Consent/Non-consent and would not have even have heard of it if not for this site. I don't know what to expect but one thing I do eventually expect is to be PAID for my mineral rights or revenue, I can wait if they can, I never had it before and can get by without it now. However, the O&G's need to realize that this site and other forums have opened the eyes and minds of landowners and the days of O&G's pulling fast ones and not paying L/O's properly and doing all kinds of behind the scene deals is about over. If they think I won't get mine, they need to THINK AGAIN.
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Permalink Reply by Grice on
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I am still researching the law, but here is something that may be of interest to you.
"Where the owners have not agreed to pool their interests, the commissioner shall require them to do so and to develop their lands as a drilling unit, if he finds it to be necessary to prevent waste or to avoid drilling unnecessary wells."
"All orders requiring pooling shall be made after notice and hearing."
"Failure to give timely written notice of the election to participate shall be deemed to be an election not to participate."
You can contact the Commissioner of Conservation, James Welsh, at (225) 342-5500 and request information (public record) pertaining to the pooled lease.
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