Leasing on "Hold" ?
I received a phone call this evening from a professional in the O & G business (a friend), he told me that some companies have stopped leasing at this time and if I had offers on the table, I needed to seriously consider them. I don't and I didn't. But he had some offers "dry up" today from Petrohawk and CHK. Anyone else with this experience?
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Replies to This Discussion
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Permalink Reply by po boy on
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OH NO NONE of us ever used wellhead in our trucks when we were kids!
I converted on old car to natural gas during the Carter years . I Was on the road 200 miles a day and the 5gal every other days did not cut it. Cost $150 to convert it, Then.
I was not being flippant. If these new high tech computer cars can run natural gas that would be good for luisiana,the country, and (shudder) even the enviornment. Market price of $20 would make some wonderful royalty checks.
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Permalink Reply by M. Mcwilliams on -
Po boy, I didn't think you were being flippant. Conversion of vehicles is permitted, isn't it? I was referring to the old practice of tapping into the well or pipeline for home use. I once helped a friend buy some pipeline right of way, and for a couple of the landowners, that was the only thing that convinced them to agree to let the line go across their land.
I just wish with all this natural gas coming and going through DeSoto parish that we could get natural gas lines run to our homes. Propane is going to be horribly expensive this winter! I know it's off topic, but does anyone know how communities go about getting gas lines? I asked Foster Campbell and I didn't really get a good answer.
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Campbell is a good start. We had to put in our own electric poles to get electric service, and our phone service is still on par with Greenacres {the TV show)
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Permalink Reply by M. Mcwilliams on
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Well talk to Foster! At every opportunity he gets in a public gathering, he talks about getting phone service to those two little communities that had never had it. Foster, that was a great thing ya did, but it was quite a few years ago, now. Of course, he's politic-ing this year, has opposition for the first time. Don't get me wrong, I like Campbell and like the job he's done, but he does keep bringing up the little old lady in Mink who got a call from Jay Leno when she got her first phone.
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And of course there is always a letter or to to the media to put pressure on him.
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Permalink Reply by Snake Stewart on
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Harsh! Po Boy , Harsh!
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Permalink Reply by TCB DS3 on
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It will happen in 2009 in a big way. Congress is allowing a $90K tax break for each cng pump a gasoline station installs. They also are giving tax breaks to auto mfgs for cars they build that use ng and to consumers who purchase these ng cars.
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Permalink Reply by Got Rooked on
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Well Boone Pickens is all for it! And being a Louisiana gal transplanted to Stillwater America I kinda like Boone Pickens-he has been a great supporter of our football program and he made a lot of money in the oil business-don't make money being dumb!
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Permalink Reply by TCB DS3 on
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Boone Pickens owns 15% of a Canadian company that makes ng truck engines. The Port of Los Angeles has been using these ng engines in their trucks.
Google "Phill" and read about a home ng connector you use to fill up from your home's ng line. It takes about six hours to fill up at home because of the low pressure but that is ok. You will also be able to get a tax credit in 2009 to purchase a "PHILL".
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Permalink Reply by DrWAVeSport Cd1 on
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Could it be that Mr. "Chesapeake" has decided...a long time ago...which of his "shale holdings" to flip...and which of his "shale holdings" to hold?
You cannot stay in all of them...
I pick NWLa!
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Permalink Reply by Gone Fishin on
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http://www.nola.com/newsflash/index.ssf?/base/business-6/1218728347...
Haynesville shale fuels big state sale
8/14/2008, 12:14 p.m. CDT
The Associated Press
BATON ROUGE, La. (AP) — The Louisiana Mineral Board collected $93.8 million at its August sale of petroleum lease rights to government-owned land — with almost all of the money coming from operators trying to develop a potentially huge natural gas find.
Wednesday's sale was the second largest in history, exceeded only by a $157.7 million sale in May 1980.
Officials said $92.2 million came from leases granted within the Haynesville Shale in northwestern Louisiana. The Haynesville Shale is a formation that lies in parts of Texas, Oklahoma and Louisiana. Researchers say it could eventually produce 29 to 39 trillion cubic feet of natural gas, making it one of the largest U.S. gas finds ever.
Wednesday's leases covered 4,070 acres in Caddo, Bossier, DeSoto, Bienville and Red River parishes. The royalty rates paid to the state range from 25 percent to 30 percent.
The names of the winning operators will be released later.
Since Wednesday's sale involved almost all state-owned land and water bottoms, the lease sale total will go to the state, along with 90 percent of future royalty payments. The other 10 percent will go to the parishes where the leases are located once production begins.
During July's sale that took in $48.7 million, seven of the Haynesville leases were located on Caddo Parish-owned land and averaged over $30,000 per acre in bonus and 30 percent royalty. The bonus money received for the Caddo Parish leases amounted to $17.7 million and covered about 585 acres.
Another lease sold in July covered 1,045 acres in DeSoto Parish and brought in $28.8 million in bonus, which tallies $27,512 per acre, and 27.5 percent royalty.
Those bonus payments went to the Caddo Parish Commission and the DeSoto Parish Police Jury.
Private landowners in the area also have been cashing in with some becoming instant millionaires from selling drilling rights and having the potential of collecting future royalty payments.
© 2008 Associated Press. All Rights Reserved.
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