Replies to This Discussion

Permalink Reply by CR on October 30, 2008 at 0:32

Foxie, who is 'they"?

Permalink Reply by Foxiecajun on October 30, 2008 at 4:23

I have given the company name before, (on here) for who I work for, but I think they do not want that information advertised. But I will say it is not a company that has been here before, and they are debt free which is important these days. Also they are a large company that does there own drilling.

Permalink Reply by msfva on October 30, 2008 at 10:11

KB,
I agree that most landowners are not going to give their gas away for pennies any more. Those days are over.

But, I hate the concept of a lease where royalties rise once the well pays out. Unless you write the lease to define the exact expenses that can go into a well, you'll be back where poor Mr. Zink was, in dealing with creative accounting on the part of the o&g company.

A possibly better way to structure the lease is this: Tie the royalty to the price of gas: 25%, if the price is under $X per mcfe. 27.5%, if the price is between $X and $Y. 30%, if the price is between $Yand $Z. And so on....

This is something that the landowner can easily track, because the price ought to be printed on the monthly statement. What do you think?

Permalink Reply by Foxiecajun on October 31, 2008 at 2:07

NEWS FLASH----they shut the whole project down. We were in the prossess of getting ready to drill 2 wells and lease checking Desoto and Red River. But they called and shut EVERTHING down. So I am out of a job. Anyone need someone? LOL. Since I dont work for them any more it is Contintial Resources.

Permalink Reply by Cottontop on October 31, 2008 at 13:39

KB, do you know of anyone that has received a worthless draft from Continental? It is my understanding that they are shutting down to evaluate their position in the Haynesville Shale. Hopefully they will start back up soon. I am out of a job too as a result, but I am not bitter - It is just the O&G business these days. Unfortunately, they are not the only ones doing this, heard there were other companies laying off landmen today too.

Permalink Reply by Cottontop on October 31, 2008 at 14:02

Yes, we were just starting to do the lease checks and were abstracting prior to that - neither of which are complete. Hopefully they will be back - for the landmen and the unleased owners. I think they meant well, but offers had not been officially made, I guess feelers just put out. Don't be mad at Foxiecajun - I am sure she was doing what she was told to do. She and I "do lunch", when they assign us to the same parish. My experience with them was short, but pleasant - that is why I was asking about the drafts. Just wanted to know if there were any negatives. I sure did not know of any.

Thanks - and I understand where you are coming from. We are from opposite sides of the fence, but I still want to work for a reputable company and be as honest and upfront as I can possibly be. I am also a landowner too - so I guess I may be straddling the fence.

Permalink Reply by Foxiecajun on October 31, 2008 at 14:05

You didnt get a worthless draft from Continental Resourses. Since all of the leases we did in Desoto were all paid by checks. There is a broker in Shreveport that is called Continental Resouses Land service or close to that. They are leasing for Chesapeake.

Permalink Reply by Jaybird on November 1, 2008 at 18:00

Foxiecajun,
I told you back in August that Continental Resources had hired Continental Land Resources to aquire acreage for them. I even called the Corporate office to verify if it was true. I even have the date, name of person I spoke with for Continental Resources and he did verify that Continental Land Resources was working for them.

I claimed on this Haynesville site that Continental Resources was going to flip their acreage to Chesapeake and you defended Continental Resources that they were going to drill and you also said that this is how rumors get started on here. Their landman even told me they might do that on the phone so we were very worried about signing with them.

Now your saying that Continental Land Resources is leasing for Chesapeake.

Now that you don't work for Continental Resources...can you now say that they were always working for Chesapeake...just like I said back in August?

They did the same thing back in 2007 in the Barnett Shale. Oh well...I knew they would flip it for 10 times what they were signing them for.

Oh ...thank goodness we didn't sign with them. You just don't know who to believe these days.

Jaybird

Permalink Reply by Foxiecajun on November 2, 2008 at 4:52

Jay,
No, No, No. I worked for Continental Resources out of Enid Ok. We leased in Desoto, along with an agreement that the leases can NOT be assigned to anyone. I have a cousin that works in Shreveport for Continental Land Resources, and they have been working for Chesapeake all along. If they have a connection at all I do not know of it. Our broker was La Oil Group. Also I ask if Continental Resources had another broker (which is what CLR is) working in Caddo, I was told we were they only broker working for them in La. Maybe you are correct but if you are I dont know anything about it. No matter what the situation I refuse to lie to anyone, just to keep the job. I ask about the Barnett Shale after what you said before and I was told it was not true. I have not heard of any leases that they fliped. I do know that when one O&G flip to another, it is not based on $ per acre, but on a ORRI or a working interest, or a 50-50 operator deal.

Permalink Reply by Jaybird on November 2, 2008 at 7:01

Thanks for the information. When I called Continental Resources at the corporate office in OK they said Continental Land Resources was working for their company in aquiring acreage in the Haynesville play. I gave them names who I was dealing with and wrote down the date and who I spoke with Continetal Resources to confirm the information. Anyway, I just don't know who to believe anymore. They...Continental Resources will sell their so called 20,000 acres to Chesapeake. And you will never see them in Louisiana. That is strictly my opinion and I could be wrong...but so far...it looks like things are falling into place just like I thought they would.

Thanks for your input and I wish you the best of luck.

Jaybird

Permalink Reply by Jaybird on November 4, 2008 at 6:57

Gray,

My point exactly. " You never know who your really talking to these days"

Permalink Reply by Jed on December 4, 2008 at 8:22

Go unsigned and get it all. That's what everybody's doin' now. No need to sign a lease and give away 75% of your money for a measly $2000 dollars a acre. Hire you a lawyer to help you along and make some real money!