Spoek with the land man last night, and was told that the offer is 16,500 an acre with 25% royalty (which is up from the previous offer of 20%) from last week. He said that this was it, take it or leave it. Our group has gotten together an organized, and we now need to decide what to do. We are T16 / R13/ S28,
was told that Camterra was the only company interested in our area, has anyone heard of other companies in this area? Looking for a little advice.
Ask Camterra if they have the ability to drill a Haynesville Shall horizontal well and if so to show an example. If they have the ability to punch the well/s then ask them if they have the resources (money, rigs, crews etc.) to handle it. Are they wanting to flip this lease?
Just my 2 cents
What information that I have found so far on the company is that they can't drill horizontal yet, and I do believe that they are trying to flip the leases. I have seen the offers in Fort Worth, and truly I think we should wait, but the company is trying to divide and conquer on individuals in the area by telling them that if they drill the well (which they don't show a well site yet on sonris) the individual will be left out.
Maybe they are stalling as well.
Perhaps the O&G companies have figured they, in the competition frenzy, have bitten off more than they can chew! (More money than sense)
I mean, as it is now, how will they be able to drill enough wells fast enough to hold on to the leases they already have? Maybe they're dragging their feet to slow things down a bit so they can catch up. And of course if someone bites their lower offers.....
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