"Big Money?"
I still don't find many in the Blanchard area who have actually pocketed or deposited 15-20,000 per acre on their lease bonuses. Great offers are still out there and being rescinded every day for 10K, 9K, and 8k per acre with good royalty percentages. People holding out in Sections where majority of minerals are under lease and drilling permits being applied for could soon see the size of these bonus offers shrink significantly or the offers disappear completely.
Views: 145
Replies to This Discussion
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Permalink Reply by P.G. on -
I don't understand why a driller would rush to pool very many who has no lease. They don't make any profit on unleased folks.
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Permalink Reply by C.S. Razor on
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Not everybody in a section has to be leased. Drilling can be permitted with a simple majority (51%). Unleased can accept or reject operator offers after that.
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Permalink Reply by P.G. on
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Yes but why would the driller want to do that? He'd be giving away 49% of the gas! All he can recover is expenses from unleased landowners.
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Driller, after controlling majority of section can permit well and make "reasonable" offer to unleased. If offers to unleased continue to be rejected, mineral owners can opt to go working interest etc. Mineral interest earnings, if I understand correctly, can at some point be held in escrow until after 100% payout on well or wells.
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Permalink Reply by ez on
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or they could just say theres only a few left so just pay them and get on with it. i think you would have to want somthing way out in left field because they dont want parteners.
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Operators share wells(partner)with other operators all the time.
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maybe but i think another operator and a landowner would be two different kind of parteners. i have an uncle thats reteired from a major oil company and i have talked to him a good bit on this and he says they do not want a bunch of parteners they would prob. not drill in a sec. before they would take on several parteners
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Ideally, operators want 100% control in section. Not every scenario is "ideal." They can either make decision not to drill with partners or decision to drill with partners. Up to the operator in question.
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Check it out with Dept. of Conservation.
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Permalink Reply by Bobi Carr ("parker") on
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C.S. FROM YOUR PAGE:
Most of these 3rd party brokers being referred to as "landmen" are not professional landmen. They are CPAs, lawyers etc., who are out to make a buck and new to oil and gas work. Consequently, a lot of misinformation is happening. My experience has been that those landmen working directly for operators are generally the most professional and knowledgeable.
DOES THAT MEAN THAT THE LEASE HOUNDS ARE NOT JUST OUT TO MAKE A BUCK?
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No, it means that their everday vocation is land management and lease acquisition. Most landmen who work directly for operators don't make a dime or recieve any override from your lease. They are paid according to the terms of their contract with the operator they serve.
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