Replies to This Discussion

Permalink Reply by Skip Peel - Mineral Consultant on October 9, 2009 at 10:51

Les. Go to the SONRIS Help Center group page. Read the topic, "Basic Well Search By Section - Township - Range". Make a copy of the township grid. In fact make three as you need to track the activity proximal to your Section 31 in 17N - 16W and 16N - 16W also. And, NO! Lease bonus offers are not down to $250! If you have any trouble or questions, post them. After you have filled in the HS activity in the three townships, come back and tell us what you think the bonus should be. Hint: You are right in a hole between Petrohawk and Chesapeake units. Nice place to be. Good Luck.

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Permalink Reply by J. A. on October 9, 2009 at 13:13

how many acres are there? to be leased?

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Permalink Reply by Les on October 10, 2009 at 6:15

I only have one acre, perhaps the reason the lot has been overlooked to this point. I see a well is going in Section 30 nearby.
And in response to Skip Peel, because I don't live in La. anymore, I have no idea what the bonus should be, thats why I"m posting here. All I hear is the days of $25K/acre signing bonuses are long gone.

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Permalink Reply by Skip Peel - Mineral Consultant on October 10, 2009 at 8:25

Les. Doesn't matter where you live when you can log on to GHS. And with the SONRIS database, it's quite simple to track development activity. Knowing the specifics of what is happening in proximity to your minerals, 1 acre or 100, is quite valuable. And there are no "blanket" offers at this point in the Play. Each tract is a case by case situation. What members post concerning bonus offers is worth noting but it's of little value unless your minerals are right next door to theirs and both tracts are approximately the same size.

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Permalink Reply by J. A. on October 10, 2009 at 9:52

One is better than none and the per acre rate in that are is around 5,000
good luck

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Permalink Reply by Skip Peel - Mineral Consultant on October 10, 2009 at 11:15

Care should be exercised when quoting HA lease bonus offers by field. Especially when those fields are located in the northern reaches of the Play and have a significant aerial extent north to south. The Greenwood - Waskom Field is a good example. The northern edge of the field is in Sections 7-12 of 18N - 16W and the southern edge in Sections 13 - 18 of 15N - 16W. A 20 mile north-south differential this far north is extremely significant. And it is doubtful that the current bonus offers for minerals in the 15N townships are applicable to those in the 18N townships.

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Permalink Reply by Les on October 10, 2009 at 11:52

J.A., thanks for your response. Not being in the area or in the industry I feel somewhat in the dark as what the going rate is in that area. Sure enough, I was offered about half what you quoted as the going rate.

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Permalink Reply by J. A. on October 10, 2009 at 12:52

There is a well near your land that IP'd @ 11.1 mmcf/day

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Permalink Reply by Bud on October 12, 2009 at 5:25

What section is this well in?

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Permalink Reply by Skip Peel - Mineral Consultant on October 10, 2009 at 15:18

There is no such thing as "the going rate" any more. The Play has matured. And the remaining unleased acreage is a relatively small fraction of what it was in the Spring of "08. The dynamics have changed but there are still opportunities to make informed decisions and get a good lease. It just takes a little more work to understand the value of your minerals. IMO, GHS provides all the basic information required.

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Permalink Reply by J. A. on October 10, 2009 at 16:07

I talked with a friend from one of the big nat gas companies this summer and, he or she said "the going rate" was around 5k.
Cheers

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Permalink Reply by Skip Peel - Mineral Consultant on October 10, 2009 at 16:22

No one in the "industry" that I know uses the term " going rate". Summer data is dated. And is no longer applicable.

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