Did anyone sign a mineral lease in the shale for only a couple hundred per acre?
If so, I'd like to hear your story. I'm a reporter for The Shreveport Times. Please call me at 318 459-3266. Thanks
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Replies to This Discussion
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Permalink Reply by insomniacnla on -
I have a neighbor who owns 40 acres in the same section in Stonewall as I do. He is in his 70s, lives alone and was born on the family farm and still lives on what remains of it now. This past spring, he heard some of the other, older farmers out here had recently signed leases for $1,000.00 per acre for some deep rights called Haynesville.
A landman came by his place, my neighbor said that he would accept the $250.00 per acre bonus being offered but only if the Haynesville depths were not included in the OGML. Landman left and said that he would go back to the office and change the OGML so that the Haynesville was not included in the lease. A week or so later, the landman returned and said that he changed the lease to what my neighbor asked. My neighbor signed the lease at the end of March or beginning of April, 2008 for $250.00 per acre and a small royalty percentage. He did not read the lease before he signed it because he does not read that well and because he trusted the landman and knew some of the landman's grandparents.
A week or two later, my neighbor had someone read over the lease and realized that nothing had been changed, that he had leased everything with no depth restrictions. The landman will not return his calls.
My neighbor thought about calling an attorney but thought that at his age, he is just going to let it go. He now hopes that a well will be drilled soon so that he can enjoy some of the royalties while he is still here. He would get a HUGE kick out of it if a reporter contacted him about this.
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Permalink Reply by bigbelly on
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Do you have his contact information? I'd love to speak to him. You can email me at bobbieclark@gannett.com or call at 459-3266. Thanks.
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Permalink Reply by Guy Marsh on
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Another sarcastic raging rant: "THE "PREFERRED" WAY TO TAKE AN OIL AND GAS LEASE":
Landman: Sir, I would like to lease your minerals.
Mineral Owners: Your are trying to rip me off!
Landman: Sir, we would like to drill a well and produce X dollars of NG from your property over the next 20 years. We will spend Y dollars to drill a well. And expect a profit of Z dollars.
Mineral Owner: You greedy scum!
Landman: Well, we would like to give you Z (our profit) in return for the lease. That means we wont make any money and you will get it all. I am actually working for free because of the way we have been operating and we cant sell any stock or find investors to give us more money. My wife had to take a second job so that I could keep doing my volunteer work as a landman (or any other oil field job).
Mineral Owner: OKAY! You can lease my property, but I got a million addendums and a no surface use clause I want to add to the lease. When do I get my check?
Landman: We offer free education classes in every aspect of oil and gas drilling, production, transporting, selling, lease procurement, farm ins, farm outs, legal descriptions, assingments, pooling, royalties, etc. etc. etc that you can take to make sure you are being treated MORE than fairly. We wouldnt want you upset if we made any money on our investment, which we would promptly turn over to you anyway.
Landman: Oh and by the way if there happens to be any increase in lease bonuses, I will bring you a sack full of cash for the difference.
WHAT A JOKE! EDUCATE YOURSELF! QUIT THE WHINING! ITS THE WAY THE WORLD WORKS!! And by golly dont anyone of you EVER EVER buy anything and sell it for a profit! That would be un-ethical!
YOU ALL HAVE HORROR STORIES. NO ONE IS EVER TREATED FAIRLY! THAT IS HARD TO BELIEVE!
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Permalink Reply by Snake Stewart on
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WAAAHHHHHH!!!!!!!
Well Guy , I certainly with miss that big smile of yours!(LOL) You seem to be the one crying all the time. Your job just used to be easier when you dealt with uninformed peasants all the time.
You dont owe me anything Guy, just stay away from my minerals and everything will be just fine.That makes it tough when you totally depend on the mineral owner for your livelyhood. Maybe you should let your wife be the landman and you get another job.Your sunny disposition probably is a downer when you are screaming at the mineral owners thus making it hard for you to close the deal. (chuckle,chuckle)
Its about whats good for everybody dude! If I am unrealistic then you guy's will drill elsewhere right ?
If you guy's are unrealistic, I tell you to take a hike.
Seems rather simple to me...........Until the mineral owner becomes confused because we no longer can take the big boys at their word any longer and we dont know whats fair or not fair. You see Guy , the industry created this mess that you seem to be in. Not the mineral owner.
That child like reverse psychology you are trying to use is cute but puts you in a bad light I am afraid.You need to leave that up to the real psychos like me. You arent one of the big boys are you Guy ? If not, quit takin' stuff so personal. Crying about it isnt going to change anything.The people that were going to get stung, have for the most part been stung.Whats left arent going to be as easily beguiled so you better toughen up skipper or Christmas is gonna' reek around your place this year. Have a good one. If you are gone for good, Asta la vista!
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1) My job is easier when I deal with people with common sense who understand what I have said again and again: every deal must be WIN-WIN or its no good!
2) I wouldnt want your minerals if you gave them away! You would be mad about it next week anyway regardless of the circumstances.
3) My happiness is my responsibility and you should leave my wife out of any of your post!
4) I dont recall one mineral owner drilling his own minerals in the Haynesville Shale. Seems like industry discovered it. You gonna blame them for the millions of dollars that mineral owners have received as well. Or credit the mineral owners for "earning" that money?
5) No psychology here Snake! Right up front plain and clear! I take everything personal especially from a mud crawling snake who hides in the grass or behind a fake name. And Christmas seems to be setting up just fine! Thanks for your concern....
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Permalink Reply by Lynn on
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Guy, Ok let me get this straight, you are happy with the way people were taken advantage of because it was more money in your pocket! So when you run up against the educated mineral owner it is his/her fault that they want to make sure they are protected from people like you.
Hey I was a travel agent for 20years some of which I worked on commission and just think if I had told them that Business or First Class was the lowest fare available guess I would own an airline right now. Never occured to me to try to take advantage of the traveler. If you really believe what you just wrote: please take a good look in the mirror and reevaluate your life. What goes around comes around.
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Permalink Reply by Cathaus on
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Coonman,
I think we can take the Guy fellow! It would be worth getting booted off of this forum just to take him down a peg or two. Are you in? Anyone else care to join?
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Permalink Reply by Cathaus on
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Great words GoshDarn. I will take them to heart and put away my frying pan!
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Permalink Reply by Iris on
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Yeah I would hate to see you go....no guy's worth the grief. I agree with Yoda.
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Permalink Reply by Grice on
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Coonman, you can have one (strike) of mine. I find little reason to entertain the thoughts of the mislead. However, if you feel it is something that compels you, and it cost you a strike, I will replace it with one of mine. Surely, "Haynesville" is offering a strike exchange program. If nothing else, maybe he will be willing to grant you with an "anti-strike" escrow account. For every good thing you do, you are granted one immunity to the 2-strike rule. And, if we can get him to make it retroactive, then you should be good for, at a minimum, a bakers dozen immunities.
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