With all the lease discussion etc., i have questions about the older neighborhoods such as Broadmoor in the Ockley, Albert, Albany area. Who developed the land 60 years ago and who would own the mineral rights?
I would assume that unless specified in your deed, the homeowner would be entitled to all mineral rights below their land. My father has owned a house nearby, just off Hollywood Ave. since the early 60's, and he has been offered $16,000 as a first offer by a company to sell his rights.
I believe the oldest part of Broadmoor was developed in the 1920s by the South Highlands Company, whose president was A.C. Steere. There generally were no mineral reservations in the deeds, and there hasn't been any production in the area sufficient to hold mineral rights for several decades. I would guess that, unless someone in your chain of title made a reservation of minerals in the last 10 years, you probably own your mineral rights.
A more pressing question is: Where in the world would they put a drillsite? Will that location cause a drop in value of your land (offsetting any benefit a 1/8 to 1/2- acre tract will get in lease bonus and royalties)? Also, note that Broadmoor neighborhood association is trying to participate in a collective bargaining strategy with other neighborhoods - a notice is supposed to be circulated in the future.
A lot of discussion up to this point has been regarding bonus money, but drilling sites are going to be the really controversial issue over the next several years. People in rural areas are going to throw a fit when a well site is located next to their house. I can't imagine the uproar when drilling starts in the middle of a neighborhood.
These neighborhood associations need to present possible drilling sites to the O & G companies when negotiating leases. Another problem is that the various cities, parishes, State of LA, and school boards in the area own much of the "open" land within city and town limits. Areas such as Broadmoor, South Highlands and surrounding areas are densely populated. Greyshades, it is interesting you mentioned A.C. Steere in your post because the A.C. Steere Elementary School and adjacent park are right in the middle of Broadmoor, I am not sure if the City of S'port owns the park or if it is considered part of the school. A lot of discussions, meetings, decisions, and controversies await in the coming years between citizens, neighborhoods, O&G companies, and governments.
I've scratched my head about that one, too. In Forth Worth, a company bought a shopping center and tore it down for a drillsite. I can't imagine that the city or parish would dare allow drilling on a public park next to a school, but I guess I can always be educated.
My guess: I would keep my eye on the vacant land south of Pierremont Place, or someone buying up a big chunk of Waterside neighborhood.
At the City of Shreveport meeting, I do remember that Tom Dark said that Querbes was probably out of the question as far a drilling is concerned. He also said that Huntington Golf Course is being considered as a possible drilling site.
The best I recall from about 20 yrs. ago, the land was donated to the city, but the school's administrator has the say as to what goes on in the park. All those yrs. back, there was discussion of expanding the old library parking lot. I understood it got nixed by the school's principal. At least that was the discussion at the time.
I would also like to know how to find out the 640 acre development area my property is in and where if at all there will be drilling on this specific acreage. Is this possible to find out? Do I need to get with a neighborhood group like the BNA or something? I have not been contacted by any companies yet about leasing. Should I be worried? Thanks, any info would be appreciated as to what I should do.
As exciting as this is, we know that we have a responsibility to do this thing correctly. After all, we want the farm to remain a place where the family can gather for another 80 years and beyond. This site was born out of these desires. Before we started this site, googling "shale' brought up little information. Certainly nothing that was useful as we negotiated a lease. Read More