Elm Grove

I've been offered $1,000/acre paid up for three years on 50+/- acres near elm grove in southeastern caddo parish.  Anybody have any thoughts on whether that is in line with the current market?  I've been out of the loop for a while.

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Permalink Reply by HBP on July 23, 2015 at 9:26

If you do not mind the request - what Section, Township and Range?

Near Elm Grove but on the Caddo side?  right near the river?

Permalink Reply by Marsh Arab on July 23, 2015 at 9:55

Yes, right near the river on the Caddo side.  Twnshp 16N, Rng 6W

Permalink Reply by Skip Peel - Mineral Consultant on July 23, 2015 at 10:23

MA, it can't be 6W and be in the Elm Grove Field.  It is either 16N-13W or 16N-12W if it is near the river.  If you can supply a section number, that would help also.  I wouldn't get in any rush to execute a lease until you get more information.

Permalink Reply by Marsh Arab on July 23, 2015 at 10:56

That's right, sorry.  It is in Section 25, Township 16, Range 13. 

Permalink Reply by Skip Peel - Mineral Consultant on July 23, 2015 at 11:07

Would this offer happen to come from Camterra?

Permalink Reply by Marsh Arab on July 23, 2015 at 11:36

No sir.

Permalink Reply by Skip Peel - Mineral Consultant on July 23, 2015 at 11:46

Good!  You're negotiating position is determined by the number of acres you own and whether an operator wishes to use any of the surface for operations.  The bonus offer is the least important term.  You want a quarter royalty and basic protective and beneficial lease clauses.  Ask for a copy of the proposed lease for your review.  Then you can decide whether you want to engage the services of an O&G attorney or take advise from strangers on a website.  Good luck.

Permalink Reply by Bobi Carr ("parker") on July 23, 2015 at 15:22

Davidson, Jones & Summers is a great firm.  318-424-4342

Permalink Reply by Margaret Wren on August 1, 2015 at 5:05

I too received the same offer, my acreage is very small. Township 17 N Range 11W section 36 Bossier Parish. I have not signed. This is for the Haynesville Shale, as I already leased the Cotton Valley years ago, but have a depth clause in that lease.

Permalink Reply by Ed Hill on August 5, 2015 at 4:55

Just be happy that somebody is actually making offers in this depressed market.  

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