Robbed by Chesapeak
We were offered $5,000.00 per acre by Chesapeak, near Blanchard, and then they went down the road, two houses down. and the people got $8500.00. We were robbed by Chesapeak. Would love to hear from more loosers.
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Replies to This Discussion
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Permalink Reply by JWS3 on
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I leased to CHK, and was then offered double the money two weeks later, I dont see it as being robbed, I posted the following on another topic, but I will add it here as well, I think the same loginc applies.
If it were not for Chesapeake and the other O&G companies, what would the mineral owners (and I am one that has leased!) have gotten? ZERO!
Who else would have spent millions on sesmic surveys, test wells, etc, with no idea that there would be a return on their investment, they took the risk, they get the big pay back. What have the mineral owners risked? 20 -25 percent royalty with no risk sounded like a deal to me, and I took it. The bonus money is just that, a bonus. I know that it is possible to make 100s of thousands of dollars a day from a single well, but the wells production will decline rapidly, the well bore can collapse, they may have to re-fracture, it is a high risk business.
If you had 7 million dollars in the bank right now, and also owned 100 acres in the heart of the Haynesville shale, how many of you would put that money on the table to drill your own well, assuming the full risk? Probably none, but hey its fine for the O&G companies because they have deep pockets. They are also publicly traded corporations that have the responsibility to maximize the return on their stockholder's investment ( that means just about anyone that owns mutual fund shares, or is in a retirement plan, not just the fat cat CEOs). That means spending the smallest a mount of money possible for the raw material needed for their product, in this case mineral rights. It is nothing more than "business 101".
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Permalink Reply by BeatBama on
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I agree, I am tired of people complaining about this, if the companies were smart they would have kept quiet, and then everyone would be leasing for $150/acre. Stop complaining, most people never get leases. Robbed my ass!
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Permalink Reply by Snake Stewart on
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H E L L O , What do you think these clowns have been doing! How long have you been leased ?
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Permalink Reply by po boy on
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I don't know if i could use the word "cheated" very easily. Bought acreage for avg. $800 an acre w/timber and minerals, made $1200. an acre for the timber, sold a few 1/4 lots @$10,000 any rent most of the remainder. even at last years mineral lease avg of $100 an acre (state wide avg) it is still "gravy" in my thinking.
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Not to nasty , but at an average per rig cost of seven million dollars whether it strikes or not, and the cost of pipelines to get it it out, the energy companies are taking all the risk. If the natural market prices drop a few dollars Shale gas two miles deep will again not be worth the cost of even thinking about. What will mineral leases be worth then?
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What risk ? 8100 wells on the Barnett and no dry holes. They know a lot more now then they did on the Barnett. They aren't guessing , even Uncle Floyd isn't that lucky !
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Permalink Reply by alleyboy on -
you should have added, "how much are you guys getting paid to talk l;ike this. Only an ignoramus thinks the big boys are riskin anything. I can't get away with it , but you could!!!
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Permalink Reply by Ben Johnson on
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You go drill your own well then. It cost money to obtain the research, more often than not the research will lead to unfavorable news
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Permalink Reply by 442 on
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Its very plain you either got a decent deal of money for your lease OR you work for these pirates!
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Permalink Reply by Grillin' - MmmMmm on -
Snake...don't know where you got your "no dry holes" information on the Barnett but I can assure you there are wells drilled in the Barnett that don't produce gas in paying quantities. I have several chunks of my rear end missing from arse chewing by management to prove it!!
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Permalink Reply by Bob on
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There are virtually no "dry holes" drilled because it is a blanket resource play, but there are many uneconomical wells drilled, as you mentioned.
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Permalink Reply by Grillin' - MmmMmm on
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And there are many wells that hit karsts/faults that basically become water wells from day one. So while the play is "blanket" there are "holes" in there if you are not careful! Again, spoken from experience.
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