What deals and where- give others bargaining power!!!!!!!!!!
mine was a bank draft that has now cleared and deposited "real" money - 20 acres at $4000.00/acre 3 yr lease - no option - 25% royalty T10N R11W
Even so my name is not really "Jack Blake". I am really Billy Bob Redneck aka Jack Blake. Use a friggin aka and help each other out!!!!!!!!!!!!!!
Chesapeake is who I signed with a couple months ago. Prior to Chesapeake's offer several $100.00-$200.00 offers came over the phone and in the mail.
I went back and forth with Cheseapeake for a week and then took this initial offer they made me. I read and was told to "never accept the first offer" but that's alot of money for Billy Bob Redneck (aka Jack Blake). Shell's landman called a week after I signed with Chesapeake. All he said is he "could have beat Chesapeake's offer".
I did have an addendum lease page written up by an expert in O/G leases. I removed the 2 year option (Chesapeake did not really care about the option or my addendum page-they just wanted the lease).
Now I am thinking if they don't drill within three years they may just exercise the option on those who signed an option to continue holding the lease and leave folks who did not sign the option out in the cold while they hold the section with the options they do exercise.
What do you think?
Now if my area is confirmed profitable or unprofitable within three years it is a moot point.
Even so my name is not really "Jack Blake". I am really Billy Bob Redneck aka Jack Blake. Use a friggin aka and help each other out!!!!!!!!!!!!!!
Chesapeake is who I signed with a couple months ago. Prior to Chesapeake's offer several $100.00-$200.00 offers came over the phone and in the mail.
I went back and forth with Cheseapeake for a week and then took this initial offer they made me. I read and was told to "never accept the first offer" but that's alot of money for Billy Bob Redneck (aka Jack Blake). Shell's landman called a week after I signed with Chesapeake. All he said is he "could have beat Chesapeake's offer".
I did have an addendum lease page written up by an expert in O/G leases. I removed the 2 year option (Chesapeake did not really care about the option or my addendum page-they just wanted the lease).
Now I am thinking if they don't drill within three years they may just exercise the option on those who signed an option to continue holding the lease and leave folks who did not sign the option out in the cold while they hold the section with the options they do exercise.
What do you think?
Now if my area is confirmed profitable or unprofitable within three years it is a moot point.
Views: 60
Replies to This Discussion
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Permalink Reply by Jack Blake on
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Sabine-near P. Hill - I think I shuld have put the section, but I don't have it close by.
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Permalink Reply by Kassi on
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Did you reserve surface rights? Did you ensure your water would be protected? Did you get a no cost royalty? Did you provide for a shut in royalty and limit the amount of time a shut in can continue? Did you have anything put in requiring payment for damages to your home or property based on cost of repair at the time of damage? Did you have anything put in the lease that penelizes the company for late payment?
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Permalink Reply by Jack Blake on
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Don't have lease in front of me........I put in everything you mentioned (and more) except I'm not sure if I have a penalty for late payment.
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Permalink Reply by Snake Stewart on
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Congratulations , I think ?
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Permalink Reply by Linda on
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Oh, so that was you, the news was referring to earlier today with the big ole smile on your face coming into the auto dealer buying a new truck, lol. With your name being Billy Bob Redneck and all. Seriously, hope all is well with your contract, I hate knowing that the O & G got one more in there clutches.
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Permalink Reply by alleyboy on
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Now I am thinking if they don't drill within three years they may just exercise the option on those who signed an option to continue holding the lease and leave folks who did not sign the option out in the cold while they hold the section with the options they do exercise.
What do you think? -----alleyboy here I think you would be in high cotton. You would then get 100% royalties???
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