I have a few acres in a section that has been unitized. The minerals have not been leased. I am wondering if anyone has asked and been allowed to participate in a well. The proportional cost of the well for my small acreage would not be a problem for me. I was wondering if anyone had gone this route and what pitfalls could be avoided. HK is the entity drilling the well.
I would expect to form an LLP/LLC to protect against some catastrophic event.
Tags:
Some of the things they tried to pull with me would not fly in Oklahoma with the Oklahoma Corporation Commission. I would pass on my dealing with my associates in Oklahoma and they couldn't believe how horrible CHK's Land Department was. They made a mistake on my decimal interest regarding all 9 wells that I was involved with. Then it would take up to 6 months to correct the mistake and "retroactively" correct all the underpayments they had been issuing me up until that point which would take an addition 3 months.
In the end, I was definitely happy for what I sold it for but the headaches CHK caused were just ridiculous. Never again will I go in on a well with CHK in Louisiana.
There's no need to fear! Underdog is here!
(You have to be old enough to remember the Saturday morning cartoon from the '60's...)
Lease, don't participate! They will rake you over the financial coals. I beleive that state law in Louisiana allows the operator to recover 200% of drilling, completion and monthly expenses before a non-consenter comes into the revenue stream.
Go to the mail box and pick up a check every month and not an operating statement. The 8/8THS Fever is a horrible disease.
J. J. Ring III
Skip:
Thanks for the one-up on the Unleased Mineral Owners in La. Have done a lot of wells in Louisiana over the years and never had an Unleased Mineral Owner situation. Damn lucky, I guess.
Best regards,
J. Ring
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GoHaynesvilleShale.com (GHS) was launched in 2008 during a pivotal moment in the energy industry, when the Haynesville Shale formation—a massive natural gas reserve lying beneath parts of northwest Louisiana, east Texas, and southwest Arkansas—was beginning to attract national attention. The website was the brainchild of Keith Mauck, a landowner and entrepreneur who recognized a pressing need: landowners in the region had little access to…
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