Replies to This Discussion

Permalink Reply by Linda Whatley on September 12, 2008 at 9:48

My latest offer from Chesapeake was $15,000 per acre. Who is the landperson you are dealing with?

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Permalink Reply by Skidmark on August 1, 2008 at 12:31

I think the reference is to lease hounds who have succeeded in signing a lease for, say, a $1,000 bonus and 20% royalty, and then flipping to an E&P for, say, a $2,000 bonus and 25% royalty. The lease hound keeps the $1,000 excess bonus and the 5% overriding royalty. I'm sure many of these lease hounds have represented themselves and landmen.

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Permalink Reply by Chattykathy on August 18, 2008 at 16:16

TO FOXIECAJUN, IF THE O&G PEOPLE WERE GOVERNED BY THE LAWS OF THE LA. REAL ESTATE COMMISSION, THERE WOULD BE NO PROBLEM LIKE WE ARE HAVING NOW.

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Permalink Reply by Caroline B on August 1, 2008 at 16:14

A spreadsheet for each parish would be nice...you could include your section, acreage, offer amount, date of offer or signed contract, company or landman name/number....I wonder if that would be a possibility. It could all be organized in one place with a link from the first page. Just an idea...

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Permalink Reply by Natch N3 on August 1, 2008 at 16:18

love the idea if someone could get this to work...

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Permalink Reply by po boy on August 2, 2008 at 14:10

This info we provided on joining, who,where and how much offered, is the valuable bargaining chip we all are really here for-I sent a message to Haynesville about releasing his data. Cross your fingers all.

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Permalink Reply by Jaybird on August 1, 2008 at 16:56

Nice idea...the spreadsheet could be catogorized by parish, then by section, township and Range.

This way we would know how much acreage is still unsigned and what the companies are offering.

Then the companies would see it...and say..we need to make some serious offers now if we want that acreage for our company.

I would recommend signing with a known company if at all possible. Forget the middle man who is looking for a profit or acreage to flip to a bigger company.

I like the idea...run with it!

Jaybird

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Permalink Reply by bagger on August 2, 2008 at 3:07

I'm been in touch with a landman from JW Porter in Shreveport claiming to represent Chesapeake. I'm not sure what to do since this is the only person dangling a carrot in front of my face. Sabine Parish near Belmont. The only other person in contact was a private person offering me a small amount cash money tax free. It was tempting.

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Permalink Reply by Kathy Morgan on August 2, 2008 at 14:36

Payments, unfortunately, are NOT capital gains, but considered regular income and are taxed at your normal rate not the lower capital gains rates. I think the income should be treated as capital gains, but, it's one of those CTGSS (Cause The Government Says So) things.
There is no free ride with this thing, it's all taxable. No matter how you get it. But in this case I agree with KB, patience is a virtue.

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Permalink Reply by TruckNutz on August 2, 2008 at 16:44

It's not unlike most other types of assets. You don't get capital gain treatment unless you are selling an asset. When you're leasing your minerals or receiving royalties, you continue to own the underlying assets.

I acknowledge the same argument can be made in the case of timber -- the owner continues to own the land. However, for some reason, the trees themselves are treated as assets being sold.

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Permalink Reply by insomniacnla on August 2, 2008 at 16:46

From my understanding, the lower capital gains tax rate is based upon a SALE of real estate and our mineral leases are not a sale of real estate, and therefore for tax purposes, the lease money is considered RENTAL income.

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Permalink Reply by po boy on August 2, 2008 at 17:28

Oh Where is Tommy Williams when you need him?
We are getting of topic.
What is your latest offer and what area are you in?

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