Replies to This Discussion

Permalink Reply by alleyboy on August 18, 2008 at 8:36

thanks for
f the enlightening opinion. Had not the slightest idea we could do that.

• ▶ Reply

Permalink Reply by Grice on August 18, 2008 at 8:46

Do you have the phone number for those ants? Do they charge per hour, or a flat fee?

• ▶ Reply

Permalink Reply by Boomer on August 18, 2008 at 9:26

I would think the O&G Company will not drill until they have 85%-90% or more of the land in the unit leased ... at that point the forced pooling might take place. Hold out for the Bonus $$$ and royalty % you want ...... or like others have said already consider the option of going unleased. Pros and cons to both sides.

Lots of factors to consider ... how much land we talking about that you have .... what is your tolerance for risk .... your financial situation ... and more.

Good Luck.

• ▶ Reply

Permalink Reply by bullbayou on August 18, 2008 at 10:50

Please, everybody understand, O & G companies are NOT in the business of drilling unleased landowners FREE wells. Therefore, they are NOT going to drill a well in a unit that they don't have totally leased or almost totally leased. They can probably handle carrying maybe 5% to 8%. Otherwise, they are NOT going to drill.

• ▶ Reply

Permalink Reply by Ringgold Redskin on August 18, 2008 at 15:26

It a bluff... unless they have pooled 85 to 90% of the unit. Probably more o&g lease holders in the section you don't know about, and they pooled them to be the operator. It does put pressure on unleased landowners to sign. If you have the pool notice I would pick a fair number for a bonus and not under 25% and call the company with your offer. They can only say no and you may get a counter offer back, seems they are in a hurry to get everyone aboard. Look on the bright side ....you may end up a unsigned partner.

• ▶ Reply