Replies to This Discussion

Permalink Reply by Cathaus on July 9, 2008 at 1:37

Yes, residents of Bostwick Road signed for $15,250 an acre but it was through Arnie Castellano. They are paying him 5% of their bonus. The contract that they signed will guarantee Arnie an income for the life of the Haynesville Shale production. Every 3 years he will receive another 5% when the option is picked up by the O&G company. He is slick and my mother always told me to beware of a "slick" man.

Permalink Reply by Theunknownquantity on July 24, 2008 at 12:14

Bad lease terms.

Landmen should get no more than 4-5% of the signing bonus, not part of he life of production.

While I don't know "Arnie", he should be ashamed.

Permalink Reply by Cathaus on July 24, 2008 at 13:36

Arnie is so ashamed of himself that he will be crying all the way to the bank! He promised all of the landowners that signed with him that they could expect a check within 4 weeks. By my count, he has 2 more weeks to get those checks in the mail. I don't know about you, but I seriously doubt that anyone will see a check for many many weeks to come.

Permalink Reply by SharonB T18N R15W S8 on July 9, 2008 at 6:06

Two weeks ago $15,250 would have sounded great to me, but after the news released on July 2, about the monster wells, that figure does not sound so sweet any more. I really think they are rushing to get as many people as they can for under 20K, then new "offers" will go out. If you read some of the business reports of these companies, they use up to 20K per acre to calculate the rate of return, which tells me they expect to pay that much. The fact that a lot of people have signed for less, means there should be more money to go around.

Permalink Reply by RAY on July 9, 2008 at 8:28

would I be wasting valuable time by dealing with Petrohawk since it seems that this is mostly Chesapeake area ?

Permalink Reply by Reggie on July 9, 2008 at 15:19

I own rights in Township 18 North - Range 15 West and have not signed a lease yet. One thing I've not heard discussed too much is the risk of being "boxed in" (basically all the rights around your property are purchased and they horizontal drill into your property) which a person in the business said could result in me getting no lease offer at all. Does anyone in this area have a idea of how big a risk of being passed over is being run by waiting too long? By the way, I'm in with a few other people on about thirty acres of land.

Permalink Reply by SharonB T18N R15W S8 on July 10, 2008 at 3:08

I'm in 18N 15W and have not signed as well....dealing with 25 acres in section 8 and 3.2 in section 3. There are other threads on this board that deal with the issue of going unsigned. You become a party to the well and do not receive a signing bonus, but you get to keep 100% of the royalty less your share of the production cost. Some say it is risky to "ride the well down".

Permalink Reply by RAY on July 17, 2008 at 6:37

I'm sure everyone is now aware of the $18,000 / 25% offer
that was placed on a plate by the representive from Chesapeake for those within a 5-mile radius of T18N R15W Section 12 & 13.

I'm trying to wait until the holidays before I fill my plate.

but a $25,000 / 25% would look tempting..

Permalink Reply by Jaime T on July 20, 2008 at 19:16

My brother and I each own 8 acres in Section 16,T19N,R15W.Our origional 3 year lease just expired at 250/acre and 1/5 royality. Their new offer is 1000/acre and 1/4 royality so we're waiting for a better bonus. Are we within the 5 mile radius?

Permalink Reply by louisiana lady on July 24, 2008 at 11:25

My son is a landman and he wants me to be a landowner at large and "ride the well down". I have 4 separate parcels and I might risk it for one, just to see what happens. I haven't signed any lease to date, I want to see the August bid results.

Permalink Reply by lilsfriend(t19-r15-s36) on July 20, 2008 at 19:56

Anyone on from 19-15-36? I've been reading about alot of activity around us but nothing from anyone in our section that I can tell. We haven't been contacted by anyone directly nor has our immediate neighbors. Blanchard seems to be the focus of attention right now, just wondering what those in our section might be thinking.

Permalink Reply by MOMOF3 (19-15-36) on July 21, 2008 at 14:09

We live in 19-15-36 and have'nt been approached. We have'nt received a letter or a phone call. To my knowledge no one in my neighborhood has been approached either. I'm hoping they just have'nt made their way to us yet.

• ‹ Previous
• 1
• 2
• 3
• 4
• Next ›
• Page