"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 Great offers are still out there and being rescinded every day for 10K, 9K, and 8k per acre with good royalty percentages.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.

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Permalink Reply by RAY on August 25, 2008 at 4:39
only go for .....$0 & 100% !!
Permalink Reply by P.G. on August 25, 2008 at 5:00
Dumb question of the day perhaps but...
When folks say "Net" acre, what's the difference between a net acre and a regular acre?
Permalink Reply by P.G. on August 25, 2008 at 5:08
Thanks!
I was wondering if maybe the O&G companies had somehow perhaps figured out a way to short someone out of part of his lease.
Permalink Reply by Grice on August 25, 2008 at 5:18
If you do not object, I would like to add something here.

An acre is 1/640 square mile section of land. A net acre is that same section of land, after consideration for immovables, terrain obstacles, and other factors have been deducted.

While your example is mathematically correct, I just wanted to clarify the unstated. Thanks.
Permalink Reply by P.G. on August 25, 2008 at 5:48
What do you mean by immovables that have been deducted? Do they reduce the area by the buildings? so if someone has 10,000sf of buildings, would that acre their located on, assuming all on 1 acre, will now be only 3/4 net acre, give or take a few feet, for O&G lease purposes?
Permalink Reply by ETOilman on August 25, 2008 at 6:45
No.
Permalink Reply by Grice on August 25, 2008 at 8:33
A terrain with a steep incline (hillside).

I feel I should correct any confusion that my previous post may have caused. In my previous post, I stated the legal term for "net acre". I did not mean to imply that a lease would necessarily cover less acreage that what is stated on the deed to your land. I apologize for not making myself more clear.
Permalink Reply by RAY on August 27, 2008 at 16:53
"net" acre is sometimes less than an acre.

we own .25 [1/4] acre in a subdivision,but when the landman finished with his measurements, we only owned .20 [ 1/5] of an acre.
Permalink Reply by Grice on August 28, 2008 at 1:02
Request the landman to use the deed to the property to determine size. By allowing him to "measure" your property, you are entrusting that he is mathematically efficient.

If he insist on "measuring" the net acreage, request it be done by a professional... at the expense of the landman/O&G company.

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