Lease offer??????
We were offered $4,000 per acre and 25%. I have no idea if this is a good deal or not. Can anyone give us a clue as to whether this is something we should go forward with or not???
Views: 419
Replies to This Discussion
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Permalink Reply by Landowner on
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Skip, Sorry if I sounded like I was bashing my friend. I surely did not mean to. I think it is a personal choice about how much anyone wants to accept and if they are happy with the amount then that is their business. I just hate to see him get less than he should, but then there again that is his choice.
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Permalink Reply by Skip Peel - Mineral Consultant on -
No, I didn't think you were bashing your friend. I was making reference to numerous past derogatory comments that have been made in site discussions concerning the actions of "neighbors". It is fortunate that the tendency to bash others over their personal decisions has abated. And you are absolutely correct that it is their choice.
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Permalink Reply by Henry on
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Skip,
Even if the landman went back and asked Empressa if they were going to drill a horizontal or a vertical well, would you believe the answer? Plans change as leases begin to expire. And companies don't have to provide that information. It seems that once the lease is signed, unless there is a written requirement for a horizontal well, the landowner is at the mercy of the driller.
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Permalink Reply by Skip Peel - Mineral Consultant on
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Henry. Maybe, maybe not. What I am looking for is specific information from the lessee to cross reference with other sources of information, like GHS and SONRIS. It is my desire to drag out the discussions until hopefully two things occur. One, I have a clearer picture of my options. And two, the lessee (or their chosen operator) begins development activity in my section. I might tell the landman that Empresa is drilling verticals in some sections and I do not wish to lease and have a vertical drilled in my unit. When he/she is adamant that it will be a horizontal well, I would say, "are you willing to place language to that effect in my lease?" I read leases on a daily basis and see numerous examples of unusual and specific language. If you never ask, you will never know what a lessee will agree to.
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Permalink Reply by philpapa on
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I got a call from Empresa today. (8/19/09). He is looking up our land. Sec 3 T16N R8W
When he gets back to me with his offer, It will be posted here. I will ask him is they plan on drilling.
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Permalink Reply by Skip Peel - Mineral Consultant on
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philpapa. Empresa has no HA Drilling & Production units in 16N - 8W. No operator does. You might use that knowledge to your advantage. It shows the landman that you are paying attention. It is extremely rare that operators make there best offers ahead of drilling units being formed and wells being permitted.
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Permalink Reply by Kathy Morgan on
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Taz, you might check back through my group (http://haynesvilleshale.ning.com/group/deathandtaxes) and find the answers to some of your tax related questions. We've had quite extensive conversations there, on my page, and in the Fiscal Issues section under Talk Shale (http://haynesvilleshale.ning.com/forum/categories/fiscal-issues-eco...) in the past year. Let me know if you have any other questions.
Kathy
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Permalink Reply by denise bailey on
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check with your accountant you should be able to get a 22% depletion on that
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