Replies to This Discussion

Permalink Reply by Gone Fishin on August 19, 2008 at 18:13

My guess is Devon will be the big boy in that area. Dont think they have quite gotten that far west yet. theyre leasing alot around center. Some other smaller co. are also just southeast of you. best I can tell the companies are concentrating their leasing efforts to certain areas and expanding from there. seems to be where they can max out the existing pipelines. that just my opinion.

Permalink Reply by Professor Fred on August 21, 2008 at 4:31

Southeast Shelby County land has more value than other parts of this play-when you calculate the potential for James Lime,Cotton Valley and the Haynesville shale.

Hunt Oil has a lot of leases in southeastern Shelby Co. and Chesapeake directly and through its agreement with other O&G companies like Ellora have been active in this area. Remember XTO- is in the process of purchasing Hunt Oil for approx. $4 billion- and they will surely want to renew or revise leases that are now 2 plus years old signed by Hunt. Only heaven knows the proper price for this property ... $30K/acre ... $40K/acre- maybe more.

Be patient and praise God from which all blessings flow.

Permalink Reply by Gone Fishin on August 21, 2008 at 11:18

I have to agree. Everything I see indicates the land is worth the money. For what its worth my opinion is it will be worth more than 40k and more importantly more than 25% at some point in the future. After the pipelines and infrastructure are in place and most of the land has been leased. Then the companies that arent willing to take much risk start buying in. Remember, the 3d should be done in about 3 months. that takes almost all the guesswork out of the equation. Bottom line is the sooner you lease the less you will get. Folks get worried and anxious and think they need the money now and that keeps prices down. Sure, I would love to have it now but I can wait till the prices get better. I dont know If I'll wait for the whole donut but I aint settlin for the donut hole. :)

Permalink Reply by student on September 17, 2008 at 4:48

Could you give more information about the 3d and what that means? Is it a Seismographic mapping: who is doing it? Thanks.

Permalink Reply by shelbycountyflash on October 1, 2008 at 7:06

Amen!

Permalink Reply by Northern Lessor on September 8, 2008 at 6:31

Have a 50% interest in some property not too far to the west of Hwy 7 halfway between Joaquin and Center. Have had offers recently of $3000-3500 and 1/4. Is this good or what amount should I hold out for? ~90 net acres under ~180 J. Smith Survey A-637.

Permalink Reply by Charmine on September 8, 2008 at 13:26

Hi Northern, I'm pretty new at this oil game. From what I have seen so far, that's what the initial offers seem to be coming in at. My last offer was at $7000 for a striaght 4 year term, or 3 years at $5500, with the optional 2 at %7000, with 25%. Try giving them a counter offer, or stick around and see what happens. There is a lot of knowledge to to be gained from this site. Stay in touch with us!

Permalink Reply by Tom Johnson on September 13, 2008 at 6:54

Charmine, thanks to you for getting so much of this discussion going, the offer in your post of Sept. 8 was much more than one we got in July from a CHK landman for $4k/25%, for a 20 acre(family owned) min. rights in The Ashabranner survey A4, N. of Shelbyville, next to Campti. Our atty. says we are still being considered for a counteroffer, but time passes, seems like feet dragging by the landman for CHK. Also were contacted by Petrohawk, wish I knew what they know, also read about a larger pipeline being installed in that area to handle more eventual flow. FYI, bought my 1st ride in Gardner, S. of Livingston, while working in the YS Park, back in the 60's, beautiful country!!! I see the group keeps growing, hope we all do well, best to you!

Permalink Reply by Charmine on September 15, 2008 at 6:18

You are welcome Tom, feels kinda helpless up here just waiting. So I do what I can to keep the information flowing. I haven't talked to a landman myself in a few weeks now, so it gets a little nerve wracking. I just keep telling myself that that sweet spot will come!

Permalink Reply by Gone Fishin on September 9, 2008 at 3:22

HI northern lessor, dont get in a hurry you are in a very good area. Lots of leasing going on up there. this thing is just getting started. As time goes on bonus prices increase. More important is to make sure you have your lease drawn up and dont sign their standard lease agreement. you will get the short end of the stick and it will cost you dearly. you might email mary at marybhooper@hughes.net or call her 936-248-3054 she is a landowner in that area that is a good contact.

Permalink Reply by intrepid on September 11, 2008 at 11:54

$6,000/ 25% paid at the point of sale with no deduction except for ad valorem taxes, Cabot. Understand several people have gotten this offer from Cabot. Cn anyone confirm a higher offer from Cabot?

Permalink Reply by Northern Lessor on September 11, 2008 at 16:36

What part of the county are you in? I'm not familiar with Cabot.

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