We're also in 11N, 8W, and so far we've only been contacted by Encana. . . but a couple of others have indicated they are not in that area "at this time." They seem to really stress the "at this time." While we'd love to get some of the offers we've heard about in other parishes ($4 - $6K), it's not their bonus offer that bothers us. They're offering 1/5 royalty, and from what I hear, all the rest are offering 1/4.
11N / 8W is a little too far east of what most companies consider the "defined" area at this time. Most believe the shale thins just a few miles west, and it is too deep a few miles S/SW.
With that being said, not enough data exists to correctly define the exact boundries of the shale. You could be in a great location, or you could be just on the outside of it.
Encana has leases in the area, so they will be the only ones interested at this time. The others (Chesapeake, Petrohawk, etc.) are concentrating their efforts in more defined areas. BTW, these are also areas where they are trying to lock down units. They can only move so fast. They want to secure as many units and acres as possible in their currents areas of activity. They will then move on to other areas as more data from these areas becomes available. Your best bet may not be from Chesapeake or Petrohawk, but from other comanies coming late into the play and having to lease areas on the fringes.
Thanks for the info. . . however, I'm somewhat confused. Someone else on this site has property in Goldonna and has been told they are in the play and advised to get an attorney. I may need to brush up on my geography, but I'm thinking Goldonna if farther east than our property in the Fairview-Alpha/Campti area. . . am I wrong? Thanks.
Rae, your land and the area around Goldanna may be above the "shale", but it is not in the "play" right now. I define "shale" and "play" as two different things. Acreage in the "play" is an area being actively leased by multiple companies and bidding against each other, or at least one company being aggresive in leasing as much land as possible. You may not have had any offers other than Encana, but that does not mean you will not. It also does not mean you are not on top of the "shale". You are almost certainly above the "shale", but is the gas too deep or too shallow below your land? No one really knows.
The areas being leased right now are thought to be above "shale" that is about 2 miles below the surface, and the gas is about 200 feet thick. Is your land above 200 feet of shale, or 20 ft. Is the shale 2 miles deep, or much deeper? No one knows at this point.
Things like this are a gamble. Do you wait for the "shale" to be further defined? If so, your land may not be in a good area. Your best bet may be to lease soon, but if it is in a good area, then waiting will be better. Either way, I would not sign anything for less than 25% royalty.
I own property in Goldonna located in sec 12 township 12 Range 6 and I don't live in LA. I live in Atlanta. What does all this mean if anything. I signed 2 contracts in Jan of this year with a Seismic Co. Was told two weeks ago they will be on my property any day. Where am I located compared to the activity going on
I am in t 11N-R8W, I have heard they will be drilling near 7 Cs if you know where that is. I do not know what company or when. If you are from Fairview you know how the grapevine is. I do not know if they are putting us off bc of the description from Mit or if because there might be more people bc we are closer together.
I have also heard that they are suppose to be putting in a road and drilling some place else but am not sure where at this point. Again I do not know when this is or when the person heard this.
If you hear of anything else regarding the area please post.
anadarko will be drilling pretty soon in 11-8. people are starting to get there notices in the mail. 4 different production units are coming in 11-8. on hwy 1 near powhatten and on the otherside of red river. good things are coming.
As exciting as this is, we know that we have a responsibility to do this thing correctly. After all, we want the farm to remain a place where the family can gather for another 80 years and beyond. This site was born out of these desires. Before we started this site, googling "shale' brought up little information. Certainly nothing that was useful as we negotiated a lease. Read More