I live in S10, Southern Hills Lambert Park. Early on, I received a flyer from JPD offering $5,000 per lot. There were some takers. Then SHGL formed as did SWSHC, all with homeowners in Section 10 as well as many other sections. According to SHGL website, Section 10 property owners have received an offer from Cheasepeke via JPD. JPD and Cheasepeke are telling SWSHC members to hold on, an offer is forthcoming---Not. Cheasepeke and JPD have looked at properties through both groups, figured out which group had just enough in the Section for them to have majority ownership and they are the ones getting the offer. The remainder of us will be force pooled. I would bet this happens in other Sections as time goes on.

Cheasepeke is saying they are working the groups in the order they were notified; however, I know that is not the case with these two groups as I straddled the fence as to which one to join and kept up with what was going on in both groups until the last minute and decided to go with SWSHC as they appeared to be much more organized and ready to go.

Views: 47

Reply to This

Replies to This Discussion

my husband belongs to swshc group.i think it is messed up how our group is being treated!first we are expecting an offer on oct.3,no offer now were going by order and our group is next,i think that is a messed up way considering our info has been with them since august 14.and to say that this is not going to be finalized by christmas is so messed up.chk and the jpd guy need to get there s*** straight.

There both running a tight race....and there both running for the same things....There pocket book and personal best interest, not the people! Hey thats the way it works.....You gotta love em' your either taking or giving it in the O&G industry....LOL
You forgot to pay attention to how close CPK is creeping up on S10. Keithville is leased, Burgundy Oaks is leased, Deep Woods leased a few weeks ago (I believe this included land that Mackey owns), and the acres & acres of property south of Williamson Way have been leased. It's important to research this. SHGLC may have been inexperienced, but I went to meetings with my parents and if they didn't have answers they went to professionals to get them. Their #1 priority is neighborhood protection, SWSHC's goal is to get a lot of acreage to get the best deal. Neither is good or bad, you just had to decide which goal was most in alignment with your own.

I believe some wise man on this site has been saying over & over ... "Be happy with what you do & ger."
I believe Kassi has also said this ... Kassi please correct me if I'm wrong. Mr. Buckner, would it be better to perpetually lament about who cut in line & what is in their deal, or be responsible for the choice one makes and be satisfied with the results one gets? My own coalition is taking it's time gathering acreage, but I'm fully aware I'm on the fringe of their package and stay abreast of leasing & permit activity in the vast areas of open land around my section. One can only say he did the best he could with the knowledge he had at the time, and be happy about doing the best he could with that. All this bonus money & % royalty is gravy anyway, not sweat from my brow earnings.
Don't misunderstand Sesport. I made my decision as to which group to go with and if I made the wrong decision, no one is to blame but me. I just believe that others should be aware that this could happen in other sections as well. As the oil and gas companies have time to review what they have and what they need to have majority ownership in the sections, they will be looking for the least amount of money to get to where they need to be. The economic meltdown could not have come at a worst time for us. However, for those that can hang on---maybe the future will be a lot brighter.

Also, if it sounded like I was whinning, I do apologize. That wasn't my intention.
Be patient. The fact is Chesapeake is pulling out of deals with people who ALREADY SIGNED LETTERS OF INTENT with them a month or more ago. Those they are commiting to are being told to wait until January to get paid. The large companies have leased all they can say grace over for drilling right now and the credit crunch has hurt their ability to borrow for leasing. As they drill and the market stabalizes over the next few months/years leasing will ebb and flow.
Lambert - no need to apologize, this site is all about getting the info out there. Keep in mind, it's 30 yrs. down the road in the Barnett play and leasing is still going on. That's the beauty of sticking with the group, if the group isn't ready to accept an offer and it holds the majority of acreage in a section, then there can be no forced pooling. And you can't beat Kassi's advice below. Think about it, if there's no money to lease, then there's probably no money to drill right now much less put in the pipeline to deliver the produced goods to market.
The economic meltdown could not have come at a worst time for us.

This is part of the chaos that is going to be on-going. My personal feeling is that gas prices will waver with the weather over winter. People are forced to cut back by the economic mess. With Obama a sure winner and an almost certain anti-oil sentiment in congress and the white house, pressure for higher prices will come...forced by the simple fact that oil is controled by those who hate us, not necessarily the economics of drilling. NG does vary with oil pricing and demand.

Nevertheless, the industry has taken a major blow as the banks who fund them are on the ropes. Look at Chesapeake. Their CEO believed in eating his own cooking....to his credit. He owned 55 MILLION shares of CHK....leveraged but leveraged very low...when CHK hit below $15 this past week, he was forced to sell off nearly all of it...With CHK being worth $68 a share in July....He lost $3.5 BILLION ...and that was HIS shares, not CHKs...

The whip hand has changed for the time being. Groups held some sway over leasing but demand for leases just fell thru the cellar and did so remarkedly quickly. Hopefully, this nation will not go into a depression like the 1930's but certainly the financial fallout rivals, if not exceeds, the 1929 crash.


© 2023   Created by Keith Mauck (Site Publisher).   Powered by

Badges  |  Report an Issue  |  Terms of Service