Replies to This Discussion

Permalink Reply by TCB DS3 on August 15, 2008 at 10:11

Time will, of course, show which o/gs prepared well for this play to maximize their profits.

My reason for listing some of the details of CHK's CEO is to answer others questions on this site about if the o/gs can handle obtaining enough rigs, pipe line space, and more gas will the price go down etc. The answer is CHK said they have spent the last two years preparing for this play.

If you listen to the reportm he tells why they "laid off" about 25% of the play--they got free money (only taxed on part of the sales revenue) and the sale set a value per acre price for the play which increased their asset value. At the same time, CHK is paying down their debt which is not a sign of a company in trouble.

Not risky for CHK, because they are acting on their own obtained info. CHK has the well cores, 11 wells producing, one for over 300 days, and other actual geo reports per his statement in the briefing. There is no hype when a company has actual wells producing.

You can not draw comparisons between IndyMac who purchased loans based on someone elses "supposed" research on credit worthiness of the underlying borrower to CHK who has done all the research for this play with their own in house geologist.

I am not for or against any o/g company and, as of today, I don't own stock in any. I only want to share factual, first hand information, in a non-personal way, that I think might answer landowners' questions and calm their fears that this play is over when it has not even begun.

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Permalink Reply by Iris on August 14, 2008 at 13:23

Could someone tell me how to interpret this latest tract (huge) sale yesterday...Caddo #40011, & 40012....how do I find out more specifically what the area & block is ...sounds like some of acreage is in my T & R....

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Permalink Reply by Duncan McGehee on August 14, 2008 at 18:35

40010 covers State lands in Sections 4, 5, 7, 8, 9, 16, 17, 18-T17N-R15W
40011 covers State lands in Sections 1, 2, 3, 10, 11, 12, 13, 14, 15-17N-15W
40012 covers State lands in Sections 4, 5, 6, 7, 8, 9, 16, 17, 18-T17N-14W

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Permalink Reply by Iris on August 15, 2008 at 11:19

Ok thx to both of you Jim & Duncan except I thought it included T18

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Permalink Reply by Theduker25 on August 14, 2008 at 15:06

Leasing hasn't stopped but the outrageous offers will slowly come to an end. The bigger companies have lease more acreage then they will be able to drill in 3 years when many leases expire. Most of the acreage will expire before they get it drilled. So why should I pay 27000 per acre when I can get it cheaper in 3 yrs. Announcements of large acreage positions are for 1 thing....temporarily increasing stock value.

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Permalink Reply by Iris on August 15, 2008 at 11:23

Why do u think it will be cheaper in 3 years? Do u think La. hillbillies will forget? I can wait....

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Permalink Reply by louisiana lady on August 14, 2008 at 16:29

Thursday PM update. Today, my neighbor attempted to contact the Manna landman who was leasing acreage on the northside of Cross Lake. His cell phone had been disconnected. She contacted a second Manna landman working the Blanchard Latex area and was told that Manna was directed to not lease any new acreage. Manna obtains leases for CHK.

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Permalink Reply by Randy on August 14, 2008 at 16:31

Mopping up and getting ready for surface negotiations.

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Permalink Reply by louisiana lady on August 14, 2008 at 16:59

Thanks for explanation...a large portion of the land in our section is lake bottom and leased by CHK.

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Permalink Reply by ETOilman on August 15, 2008 at 3:52

I doubt that the brokers are switching companies. There is too much confidential information for them to switch. It is also looked upon with much disdain in the profession.

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Permalink Reply by slowpoke on August 15, 2008 at 0:48

I dont doubt that this is what your friend heard, but I doubt that leasing is on hold. Like someone said, these O&G companies are collecting leases like a kid collects baseball cards. They may be taking a short timeout to see who wants to trade this for that or buy or sell. In the meantime, some of the smaller independents will keep right on chugging.

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Permalink Reply by Deacon on August 15, 2008 at 4:33

a Petrohawk rep from The Mitchell Co told me that they have stopped leasing small tracts. they had not made me any offer. said they'd keep me in the spreadsheet. i contacted CHK two weeks ago. never got a reply. 30 A S of Mansfield

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