Replies to This Discussion

Permalink Reply by DoublEagle on October 23, 2008 at 15:43

KB Somewhere I have seen a post that after about 5 years a well will deplete its use. but you say we will be partners for decades, can you say more about your thoughts on this..

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Permalink Reply by Two Dogs, Pirate on October 28, 2008 at 12:42

Make sure that you only lease the depths that they want, nothing above and nothing below.

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Permalink Reply by Prosperity on October 23, 2008 at 14:41

Smiles can definitely be deceiving, just like their negotiations. Be aware of Chesapeke. No integrity behind the smile!

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Permalink Reply by Snake Stewart on October 23, 2008 at 14:46

Hey KB, Thats my old Uncle MAC. Kinda looks sneaky in that pic tho.

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Permalink Reply by Gas Baron on October 23, 2008 at 15:16

I am in the Greenwood Hills Group and have not been given anything in writing to say that we will not get paid in November
Until that occurs I will continue to believe that my Draft will be paid.
If I remember correctly there was around 100 landowners in Keithville. I believe there are around 350 to 400 in our Group
So the Bad PR for JPD & CHK would be 3 1/2 to 4 times as Bad in Greenwood

Again this is all hearsay until I get something in writing from JPD Energy or CHK

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Permalink Reply by shawn on October 23, 2008 at 15:28

Gas Baron first call the Clerks Office and if your lease has been filed if it has call Toya Wells at Chk to see when your draft will be paid 405-848-8000

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Permalink Reply by Antsu-in-Japan on October 23, 2008 at 16:22

Many sincere wishes to you and yours, Gas Baron!! Hopefully, CHK will honor the drafts they sent and your family can make use of this for years to come!! :-)

It is my understanding that there were 104 Keithville landowners in the group that CHK agreed to honor AFTER media exposure regarding their decision to not lease after contracts were signed. Our group in Keithville (a second group), which was dropped after signing 'Agreement to Lease' forms, has about the same number of landowners as in your group.

Actually, when you think about it...CHP has been somewhat "smelly" from the start. Some people in here chastised the landowners who leased early on for prices around $200 or $500 an acre for not being 'knowledgeable' about their land. Well, please tell me who amongst us can be truly knowledgeable when you have O&G companies and/or landmen tiptoeing around the area buying up land or leasing land when THEY, the experts, know what's underneath it but refuse to share that information with landowners who have virtually no access to that very same information. I can imagine them actually salivating, rolling on the floor like children without a care in the world, over OUR gold mine when they started snatching up land secretly in the shale zone years/months ago. This may be a game or merely another piece of property to be drilled on to them but as many of you have so passionately noted...these are people's lives and financial futures that we are blogging about!!

Playing fair means releasing relevant information so that people can make INFORMED choices regarding their land...their asset. Taking advantage of people/manipulating a situation is when you intentionally hide information so that others will not be on a level playing field with you. I have seen very little 'good will' from O&G companies come as a result of the GREAT news regarding this shale. Hopefully, good news is coming soon. I understand that we cannot control forces governing the domestic and/or global economies...but O&G management are definitely expected to honor the agreements that come out of their mouths. Yes, hindsight hurts but CHK and others who made verbal agreements should suck it up (as our early signers are expected to do) and learn from their 'mistakes.'

Frankly, I'm happy that the shale will provide northern LA and parts of Texas with some financial stimuli to help their communities, schools, etc. But I truly resent the selfish nature of the O&G beast that I have personally witnessed lately. These companies seem to forget that they are ABOLUTELY NOTHING without the permission to lease given to them by the average Joes like us out there. Hear of them going back on Agreement to Lease contracts or final Leasing Contracts with our government? No. So why is it OK to do that to us? Is it because they perceive that we are weak and will do nothing about it? Probably...but as I already knew before they arrived in my life, I don't NEED gas money to survive. Sure, it would be REALLY nice to have that monthly check but I'm not selling my soul for it. (We can wait until you realize you need us, CHK...and others out there. Better yet, force pool us, PLEASE!! Hahahhaa!!)

I suggest that we make LOTS of noise regarding the way these companies have chosen to play the game in our neck of the woods. Not just noise regarding their reversal on leases and bonus payments or non-payment of drafts...but also the manner in which they cut early signers from the higher bonus payments they deserved (by withholding pertinent information that they kept from the public in order to hold the advantage in the shale!!) or strong-armed neighbors into signing by using fear tactics. You know how cockroaches scramble when the lights are suddenly turned on?? TURN ON THE LIGHTS HAYNESVILLE SHALE!!!

Call somebody...write somebody...let's stand up and make ourselves heard! R=E=S=P=E=C=T!! That's what Haynesville means to me!

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Permalink Reply by RJ on October 23, 2008 at 23:51

GAS BARON,JPD has said point blank that the Drafts will not be paid in nov. Cheasapeake says they want to maybe pay them in Jan now. The Greenwood group had paperwork saying they would get paid and it seems that it was not enough. I doubt you will see any paperwork unless JPD sends you another draft with a longer pay date on it.Even then, if they can back out of the Nov date then who says they will not back out of the Jan date. MAYBE Cheasapeake will change their mind and pay the nov dated Drafts. Lets all hope they change their ways. JPD has a phone number on their web site. I suggest anyone who wants to know what the status of their drafts are call them. This is not HEARSAY!!

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Permalink Reply by Grillin' - MmmMmm on October 24, 2008 at 7:05

As much as many of you won't like to hear this, I agree with Aubrey. They won't be paying over $10,000 per acre through 2009 and maybe longer. Here's why:

1) they are under intense pressure financially to lower their expenditures. Really intense. To the point where it basically means the difference between the company "making it" or going away. That kind of pressure makes a CEO cut way back, down to the bone, and then some.

2) all of the big companies, the ones that drove the prices up, have hundreds of thousands of acres already leased. To drill all of that up in the lease terms will take billions and billions of dollars. Now, in today's market environment they don't have access to those dollars. Revenues are going down, they can't borrow anymore money and if they can, some are getting loans at 15-18%!!!!!, so they won't be borrowing. They are all going to live within their means, like most of us do...at least the ones of us who don't have credit cards or expect Uncle Sam to bail us out. So, if they have all the acreage they can use for 3 years, why would they need to buy more. The small fringe feeders may come in and buy some, but they aren't the companies that can afford to pay big bucks for the acreage. And without competition from CHK, HK, et al, they won't pay much. They'll just go find somewhere else to play.

That's the truth, as dismal as it may be. I believe you'll see about 20-25% fewer wells drilled compared to what companies were thinking about months ago. Those will be drilled sparsely and designed to hold as much acreage HBP as possible. Some wells will be targeted at very old leases that are still at royalty rates of 12.5% because all things being equal, the company makes more money. Expect things to be slower than we originally thought probably for a year or so. Even the big multi-national companies are cutting back their spending and these are companies with billions of dollars of cash sitting in the bank!

These are strange times and financially speaking, everyone is scared to make a mistake. But don't worry, change is just around the corner......AAARRRGGGHHHHHH. I just barfed all over my keyboard! Excuse me while I go fire an employee with an O sticker on his truck! just kidding. kind of

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Permalink Reply by Grillin' - MmmMmm on November 4, 2008 at 10:58

Actually, if I run a small business I can fire someone pretty much for anything, so yeah I can. It may cost me something but I can. Or I can wait until the O man raises my taxes and then I have to cut back. Guess who is first to go? The guy who voted to put the clown in place.

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Permalink Reply by The_Baron on November 4, 2008 at 11:21

Here!! Here!! for the American way.

When i was in the bar buisness I had to fire a cocktail waitress for talking to much about how great clinton was.

The official Reason for her termination... She was harassing the customers. The real reason...we got tired of her constant yapping.

Permalink Reply by Martin on November 2, 2008 at 9:29

I won't believe that E&P or O&G companies are hurting until they cut executive pay, bonuses, and any other form of compensation they receive. And eliminate all stock dividends. Until then its' just public relations.

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