INFO FOR YOU HAYNESVILLE FOLK BASED ON THE BARNETT SHALE

Two things:

Never, ever, ever sign with a "landman" unless he/she is an EMPLOYEE of one of the major players (like Chesapeake, Goodrich or Petrohawk).

If you don't own 10+ acres and live in a residential neighborhood, get your neighbors together, pick a 3-4 person group you trust and have them negotiate directly with the major players on your behalf.

fyi: Depending upon the area, the average price in Ft. Worth has stablized at about $20,000 per acre signing bonus + 20 to 25% royalties going forward.

We've been dealing with this for 3 years instead of 3 months. As Walter Cronkite used to say: "That's the way it is."

Tags: barnett, chesapeake, goodrich, haynesville, landman., petrohawk, royalties

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Replies to This Discussion

Permalink Reply by Snake Stewart on July 18, 2008 at 16:37
Thank you Mr. McCarthy . Anytime we can get insight from someone looking from the west , it is greatly appreciated.
Permalink Reply by Kevin McCarthy on July 18, 2008 at 16:52
You're very welcome.

My wife is from Shreveport and after hearing about the offers her uncle (10+ acres) and her father (1 acre in a residential area) were getting from "landmen" I felt like I ought to share what I knew about the facts of this business here in "the west".

I don't have a dog in this hunt---I just hope everyone gets a good deal.
Permalink Reply by Snake Stewart on July 18, 2008 at 16:55
I do have a dog in this hunt and I am afraid one of these guy's is gonna' try to steal him too ! HA!HA!

landownerPermalink Reply by Army MP Wife on July 18, 2008 at 16:53
I agree - it is very appreciated. What if the "landman" works for a company that presents itself as an authorized agent of whichever O&G co? How can we find out what exactly we're dealing with? To know this authorized agent company is indeed working for the O&G co? Or is the authorized agent company actually an independent broker that "flips" the signed leases? Call the O&G co the "agent" says it represents, asking about the particular "authorized agent company"?
Permalink Reply by Kevin McCarthy on July 18, 2008 at 17:23
Beth, in your own words: "if the "landman" works for a company that presents itself as an authorized agent of whichever O&G co", "the authorized agent company is actually an independent broker that "flips" the signed leases".

PLEASE, contact http://www.chk.com , http://www.petrohawk.com , or http://www.goodrichpetroleum.com DIRECTLY to make sure you're not getting scammed.

landownerPermalink Reply by Army MP Wife on July 19, 2008 at 3:15
I was asking if an authorized agent does work for the O&G co or if it's an independent. But I will contact the O&G co as they come, to verify.
Permalink Reply by Foxiecajun on July 19, 2008 at 5:03
You may have a long wait for an "employee" of PH or CK to contact you. Yes land men do worker for a broker who works for the O&G company, the O&G pays the broker and the broker pays us. A day rate, Like if I make 350 a day the broker is paid 500 a day for my work. I have worked for about 5 broker for about 10 O&G companies and have never seen someone payed by the leases or a bonus for the leases. So may do this but I think it is very few.
Permalink Reply by Kevin McCarthy on July 19, 2008 at 5:26
Well, since there aren't any gas companies with the stock symbols PH or CK, the above poster may be right about the wait.
If you would like to do business with HK or CHK, their contact information is posted about.

Oil & Gas ProPermalink Reply by ETOilman on September 19, 2008 at 7:27
I am reasonably sure that foxiecajun was not trying to quote stock symbols, but merely using PH and CK as abbreviations for both companies. As for your advice to deal directly with a company landman, good luck. Both Petrohawk and Chesapeake both use brokerage services to handle their leasing. I doubt rather seriously that a company landman will deal directly with a town lot or a tract of 10 acres personally. In the past, a company would use the brokerage service's name on the lease to prevent others from knowing their whereabouts. Since this play is so well known, perhaps the landowner should not sign a lease with either HK, CHK or XTO or others without their name as the Lessee on the lease.

landownerPermalink Reply by Bobi Carr ("parker") on July 19, 2008 at 5:59
The assignments of leases that I have seen from most broker companies is just a standard assignment.
The assignments that I have seen from Twin Cities to CK are over-ride deals.
The same type of assignment that you see from an operator like JW to CK.
Twin City is getting a piece of the action. At least, the assignments that I have seen in Bossier.
That leads me to beleive their pay structure is quit different.

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