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 Snake Stewart on
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Please stay away from my place then.We don't need no stinkin dry holes !
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Only info I am privy too is from Uncle Floyd and Uncle Mac. If you guy's srcewed the frac job up or something I dont see how it was the shales fault !
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Permalink Reply by Grillin' - MmmMmm on -
You can hit these karsts without ever fracing the well. When you drill in to them you know it...drill bit drops pretty quick. Weight on bit to nearly zero. I think the karsts are nature's way of telling us to not get too darned cocky! And to keep geophysicists employed!!!! Good 3D data allow you to avoid them for the most part.
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Permalink Reply by Bob on
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There are virtually no dry holes in the Barnett, but there are damn sure lots of uneconomical wells. There is a difference.
This business is never close to a sure thing.
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Permalink Reply by PM on
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The thing is they will be making plenty off of our gas. If this is the biggest gas field in the nation and possibly the 4th in the world then they know it is worth much more. Channel 12 (KSLA) news said yesterday that Chesapeake was paying between $15,000-$25,000/acre. This is suppose to be huge, much bigger than Barnett. The way they are pushing Bossier City, or settle for less later (force pooled) just does not seem right to me especially since the largest producing well so far has been in Bossier Parish. OK Petrohawk or EnCana where are you? I know several neighbors and co-workers waiting to see if we hear from you.
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Permalink Reply by Seeking Information, Blanchard area on
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I know people who only got $400.00 per acre for 50 acres. Doesn't see fair to me. I guess we should feel fortunate that we got $5,000. However, everyone should be on guard regarding these BIG companies.
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Permalink Reply by Jack Blake on -
I got $4,000.00 per acre for my 20. Maybe I could have got $12,000 acre........Who knows..........but............I'm happy as a pig in shit with my $80,000.00 IN THE BANK!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
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Permalink Reply by JWS3 on
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Once again without Chesapeake, Petrohawk, Etc, There would be no money! Educate yourself, or get a lawyer, and make the best deal you can. Like it are not, these companies are the only business partners we have to choose from. Oh, I forgot! We shouldn't use lawyers, they want an un-fair percentage of the no-risk bonus money we may receive to explain complicated contract clauses that if misunderstood, have the potential to cost you maybe $100, 000.00 or more over the life of a well.
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If this is a partnership , then spank my hind end and call me silly !
Anyone receiving 1 % of "Royalty" could cost on average @ Barnett numbers ( Much lower then Haynesville ) comes to about $2500 per acre.
If you feel that you can't make an informed decision after reading all the info that is out there, then by all means an attorney working by the hour or for a small % of bonus would be a very intelligent decision.Unfortunatly some have stated that fee's ran as high as 4% on bonus and 4% royalty. That my friend equates to a large amount of money without the attorney enduring any risk whatsoever.
Scratching out someone elses name and filling in your's on a lease doesn't constitute that amount of payment in my opinion. With a $10,000 per acre deal you could be looking at (Barnett Prices) $10,400 per acre in fee's over the life of the play. If someone were not careful , those guy's looking out for your best interests, could be fleecing you almost as bad as BIG O & G .
In closing....There is one thing worse than complaining about getting ripped by BIG O & G , and thats people crying about people complaining about getting ripped by BIG O & G. Deal with it my friends because that is the way it is going to be.Unless of course they feel guilty or see thr error of there ways and come back and pay more to the ones they shorted. Good Luck With That ! Have a good evening gentlemen! Until next time.
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Permalink Reply by smith1 on
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My attorney did not want any percentage, none of my bonus money, he just charged me his normal fee, was very fair, worked long hours, even called & emailed us on Sat. & Sundays & evenings. Charged by hour, Very knowledgeable and honest. There are still some honest attorneys out there.
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Permalink Reply by Jack Blake on
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CSC must be dreaming or very lucky. I have NEVER met a Lawyer I liked. If you think a lawyer is OK spend about 10 minutes with him and you will decide he is an A hole like all other Attorneys.
I can't think any group in any profession that are an overall bigger group of Aholes than Lawyers!!!!!!!!!!!!
Landmen are great compared to Attorneys.
Jack Blake has spoken!
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