Does anyone know about EnSight Energy, which sent me a lease ready to sign (I didn't) and keeps calling. The property is in the Logansport field, 11N 15W Section 16. Is anyone signing new leases? Thanks.
I just received an offer from Dixon Services Inc. on behalf of Ensight Energy. Has anyone done business with them and did you receive a fair price for your land? My property is in T10N R13W Sec3, Thanks.
Ensight IV is an accredited state O&G operator. They have not drilled many Haynesville wells and are currently attempting to sell their entire LA Haynesville assets. That would not put me off from negotiating a lease with them but the real question is, what are the lease terms being offered? Without that no one can give you an informed opinion. As I have stated on this subject numerous times in the past, the lease terms are considerably more important that the unknown question of what company will drill wells and when. You can't control that. All you can control is the piece of paper you put your name on. It doesn't appear that Ensight is looking to drill your section so the bottom line is to get the best terms you can and then wait to see what happens, if anything. If Ensight can't find a buyer, the company just might drill your wells but there are better and more experienced Haynesville operating companies that I would prefer to drill my wells.
Skip, where have you seen the listing for their acreage?
A reliable industry source alerted me. I don't think there has been any public announcement.
I am aware of a recent offer in Section 3 of 10N-13W. The offer was 3/16ths royalty, $750 an ac. for a 3 year lease and 2 year option @ $500 ac. I didn't think much of the offer. A savvy mineral owner I know has told many a landman, "Hell, I haven't
leased for 3/16ths since 1960".
The current offer is a 1/5th royalty, $1k per acre bonus for 3yrs with a 2yr option @ $666 per acre.
That's in the ballpark of what I have been seeing. What's missing from the discussion is the size of your mineral acres which has much to do with your negotiating position. Specific location does come into play occasionally also if you own the land and it is located such that it might be needed for a surface location or right-of-way.
Of course - and I know Skip will back this up - the terms of the lease go deeper than just these factors. Pugh clause, cost fre e lease language, other things.
Yes, and the list of protective and beneficial lease clauses is too long to post. And which ones are applicable is unknown without knowing the details of the mineral interest and the surface if fee ownership.
This is the offer that Ensight offered, with their ready-to-sign lease. I'm still on the fence and will probably do nothing out of inertia and lease intimidation. I understood it back in the Chesapeake day, but that was years ago.
40 acres 11N 15W 16
$750 an acre
3-yr lease, 2-year option
So this is good to know. I have to say, I am extremely disappointed in the attorney. I'd say he didn't really want the job. I'm open to recommendations for good O&G attorneys.
My O&G attorney is Randy Davidson, principle partner in Davidson, Summer APLC in Shreveport. All the attorneys at the firm perform a lot of O&G/mineral work including reviewing leases. They see a lot of offers and know all the companies leasing/drilling in Louisiana north of I-10. O&G/mineral work is the majority of what they do. I think that both Brix and Indigo might have an interest in leasing Section 16, 11N-15W. They operate the units/sections immediately north and south of 16. Lease competition usually benefits mineral owners.