Replies to This Discussion

Permalink Reply by COREY PERKINS- CPL on January 15, 2011 at 3:10

THANK YOU FOR YOUR COMMENT. I'll need to confirm with my grandmother as to what town it is near as I am from Lafayette and she has lived here for all of my life. However, I am "almost" certain the tract is near Patroon as I know this is where she grew up.

Where do I go (online) to find it on a map?

 

THX

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Permalink Reply by Bryan Brennion on January 15, 2011 at 5:20

The Rowe abstract starts at the intersection of SH 87/FM 2261 (Patroon) and runs east toward Toledo Bend.

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Permalink Reply by jffree1 on January 15, 2011 at 5:28

Railroad Commission of Texas GIS Map:

http://gis2.rrc.state.tx.us/public/startit.htm

You can go here to find instructions on how to use the map.

 

I found an "unofficial" IP for the only horizontal well (Timberstar-Blackstone #1H, 419-31557) completed in A-585.  Southwestern tested the 3962' producing interval @ 13.231 MMcfd on a 27/64 choke with 6280# flowing pressure... which makes it the largest IP I've seen in Shelby County.

 

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Permalink Reply by Spring Branch,mineral owner on January 15, 2011 at 5:57

I agree with you, Julie

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Permalink Reply by Joe Aldridge on January 14, 2011 at 15:30

I tried to deal with Exxon back in the late 70's. We were in the middle of a lease block and the only property unleased in the area for Tuscaloosa. They would not pay $500.00 per acre bonus to us. They ended up paying out the rentals for the rest of the block and in the end dropping the entire lease block because they would not deal with me. We later leased to Amoco then to OXY. Neither ended up drilling though. Its my understanding that Exxon told an independent landman that I was working with that if he leased my property that they would hold the leases on the block and not drill and they would never deal with him again. At that time the bonus was very reasonable considering where we are geologically and the bonuses that were paid by other companies and speculators. Good luck. I hope you get a good lease. Just be aware that Exxon is the Big Gorilla in the room and they will stomp on you. At least that is the way they treated me and my family.

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Permalink Reply by benny688 on January 18, 2011 at 12:23

Corey- With current market conditions the trend over the last two years has been to drastically reduce the sign on bonus but increase the royalty payment to share the risk and help the producers conserve cash.  This is a lousy offer no matter how you look at it.

Unless your grandma needs immediate cash, I would just keep throwing this in the trash can and await a more reasonable offer like $1,500.00/acre and 25% royalty.

 

Like some of the other posts, especially if you are an absentee owner where you can't discuss this with your neighbors, it would be a good idea to turn this over to an O&G attorney in Shelby County to help you maximise your return.  He would know how much you can really get for this if you are patient.

 

 

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Permalink Reply by COREY PERKINS- CPL on January 18, 2011 at 17:21

THX BENNY. I APPRECIATE THE INPUT!

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Permalink Reply by Lerret on January 19, 2011 at 8:18

You are being lowballed likely due to the current price of nat gas. Frankly, no shale play in the U. S. is truely profitable when NG is selling for $4 or less at the wellhead.  I would hope to delay drilling as long as possible because if NG simply rises to the old ratio of oil / bbl vs gas / MCF, (a BTU content equivalent of ~8-10) then $8 nat gas will make you far more than worrying about the amount of the bonus money... focus on the royalty percent.

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Permalink Reply by EgiB on January 19, 2011 at 10:14

Tell your granmother that 50 acres within a couple of miles of there went for $3500 and acre with 25% royalty back in September.

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Permalink Reply by MLE on January 20, 2011 at 10:14

Some of you people are ridiculous. Just because the minerals are in a county with Haynesville production doesn't mean you have it also. Not every nma is worth $2,500 and a 1/4. I wouldn't pay $1 for some acreage in Shelby county because the Haynesville simply isn't mature and economic, or because it's faulted to all hell (see North Shelby). Keep in mind that those lease prices will keep some companies from drilling because the price of gas is so low.

 

Yes, I'm an industry professional, but also a mineral owner.

 

Be realistic 

 

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Permalink Reply by Bryan Brennion on January 20, 2011 at 17:00

Would you send me a message further explaining"faulted to all hell (see North Shelby)".

We have minerals between Center and Tenaha.

Thanks

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Permalink Reply by little ole 1st grade teacher on January 20, 2011 at 19:36

I would like to know also about "faulted to hell" in Shelby County. 

What does this mean as far as it being "no good"?

Also, where are these faults located?  Is there a way that you can put a map on this site to show us the location of this fault(s)?  Also, could you please post a  listing of the cities, communities, Farm-to-Market Roads, etc.  as to where these faults are located?

I've also heard that just because there is a fault doesn't mean that it is totally impossible to drill in that area...and that having a fault actually is a very good "trap" for Oil and/or Gas....However, I'm not sure of how this is explained.

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