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Permalink Reply by Grice on August 12, 2008 at 14:36

While this may not answer your immediate question, I hope it provides enough information to help you decide what would be in your best interest.



April 08, 2008
Petrohawk Energy Corp. has agreed to acquire additional natural gas interests in the Haynesville Shale area from several unnamed companies. The deal gives the Houston energy company more than 70,000 net acres in the area, including about 30,000 net acres in the Elm Grove field, both located in North Louisiana.

June 30, 2008
Petrohawk Energy Corp. reports its first horizontal well in the Haynesville shale into production. Petrohawk has 100% working interest in Elm Grove Plantation No. 63 in Bossier Parish Louisiana. Producing 16.8 million cubic feet per day with 5600 pounds flowing casing pressure on a 26/64 choke. The targeted interval in the reservoir was at 11005 feet and a lateral of 3880 feet was drilled. Petrohawk now has leases or commitments for about 275000 net acres in the Haynesville shale and Bossier shale of Northwest Louisiana and East Texas. Petrohawk is drilling three horizontal Haynesville shale wells and expects to have six rigs drilling there by mid-September and 10 by the end of the year.

Aug 5, 2008
Mainland Resources, Inc. and Petrohawk Energy Corporation have signed an agreement for the joint development of the Haynesville Shale in De Soto Parish, Louisiana. Mainland Resources holds interest in approximately 2,695 net acres in De Soto Parish. Petrohawk agrees to pay 100% of the costs of development associated with the first well drilled below the Cotton Valley Formation. Petrohawk also agrees to pay 80% of all costs of the second well drilled on the Leases below the base of the Cotton Valley and Mainland agrees to pay 20% of the costs. For the third, and all subsequent wells drilled on the Leases below the base of the Cotton Valley Formation, Petrohawk will pay 60% and Mainland will pay 40%. Mainland will transfer 60% of its De Soto leases to Petrohawk, but only as the Leases relate to depths below the base of the Cotton Valley Formation, and specifically the Haynesville Shale. Mainland retains rights to all Cotton Valley and Hosston formation production on these Leases. The Griffith Well No. 1-H is currently on Petrohawk's rig schedule to spud in September 2008.

Aug 11, 2008
Petrohawk intends to raise more than $725 million to provide capital for future acquisitions. The company will offer 25 million shares, with underwriters having an option to purchase as many as 3.75 million additional shares to cover over-allotments. Petrohawk will use the remainder of the proceeds to fund portions of its capital budget for 2008, now pegged at $1.1 billion, and for general corporate purposes. In February and May, Petrohawk sold 49.5 million shares through other offerings.



While the information pertaining to De Soto Parish is not directly related to your area, it is close enough to take into consideration.

I am still gathering information, but from what I have gathered so far, the 15K offer seems a bit weak. I posted information about Petrohawk, but there are many other players in your area.

I can not advise you on what you should do, but I hope you are able to create a lasting relationship with a company, where both of you enjoy what the future may bring.

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Permalink Reply by Snake Stewart on August 12, 2008 at 14:49

Good solid informative post , Mr. Grice. That is truely what this site is all about.

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Permalink Reply by MTA on August 12, 2008 at 17:50

I know of a few landowners in your area in the last 3-4 weeks that have gotten 25k/acre and 25%+ royalty. I personally saw the offer for one of them. I would not settle for any less than this amount right now.

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