Under paid lease bonus
We feel that we got screwed on our lease. We have leased our 75 acres from time to time for $75 to $100 bucks per acre. We do not live in the area though we have a house there. We didn't think it unusual when we got an offer for just a little more than before so we just signed the lease and sent it back. This was toward the middle to the end of March. Right after that we went up to check on the farm and visit my brother Gilbert Aaron and found out things were hopping. My question is has anyone been able to break or renegotiate a lease because they were not properly informed?
Views: 168
Replies to This Discussion
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Permalink Reply by OLD HILLBILLY on
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Hey dont feel bad, alot of people got it that way ,starting in 2006 , the land men knew what they were doing when they started leasing , and paying $125 an ac.
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Permalink Reply by kfly on -
I don't think landmen knew that far back. It was kept pretty quiet for several years.
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Permalink Reply by Har C2 on
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It is unfortunate but that is capitalism. If you would have gotten $5000.00 per acre you would be ticked because you did not wait and get $20,000.00 per acre and so on.
But you do not deserve to be made fun for being on the front end of the boom. But, you are not going to get sympathy for not being vigilant.
Enjoy your Royalties and be happy. Good Luck.
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Permalink Reply by kfly on
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No royalties yet, but there is a rig moving in nearby. That's the benefit of signing 2 1/2 yrs ago.
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Permalink Reply by Dan Aaron on
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That is a good point. My lease was for 3 years so I guess my consellation is that they would have to drill within that period of time. However I am 63 years old and would really enjoy a nice bonus before I kick the bucket. Yes I do have a v ery nice retirement through real estate investments and if that is the way it is to be then so be it.
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Permalink Reply by kfly on
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You'll come out alright. With your acreage, it would have been a nice bonus check at today's rates. Your acreage will probably make for very nice monthly royalty checks for yourself and kid(s).
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All I can say to somebody that uses language as that person did is just "consider the source". We shouldn't feel bad toward a person who does not have the ability to properly express themselves in a public fourm. I have an ex daughter-in-law who speaks 2 languages. English & Profanity!
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Permalink Reply by Dorcheated A1 on
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Clinton tried that with Monica.
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Permalink Reply by Snake Stewart on
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uuuuhhhhhhhhggggg! HA!
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Permalink Reply by Dorcheated A1 on
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KB
You have such good post, but you know when talk about my boys I got to call you out on it.
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Permalink Reply by HBP on -
Guys, this is ridiculous. Almost everyone for the past few years, whether they are "in the business", attorneys, geologists - whoever, signed in the 200-300/acre range. Also, If ALL the companies knew (not just Chesapeake and Cubic Energy as of November 07), then wouldn't there have been a quick jump in competition? A quicker jump in price? It stayed at 200-300/acre throughout the cotton valley leasing. And if the field landmen knew, then most would have tried to buy for themselves eventually.
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Do you think the landmen didn't ?
The main reason for the jumps wasn't CHSPK or Cubic. Petrohawk and their apparent personal vendeta forced CHSPK out of the closet or face looseing credibility. Did I just say "face looseing credibility" HA! HA! That was kinda funny all in itself!
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