Has anyone been approached to sign an ammendment to their lease?
I was an uninformed leasor who signed for very little with Pinacle Leasing ( who represented Petrohawk) back in March of 08. I have recently been approached by Petrohawk to sign an amendment to the lease that would give Petrohawk extended mineral rights to a depth well beyond the 100' stated in the pugh clause. They have explained to me that they have discovered that the haynesville shale varies in depth and may dip well beyond the 100' described in the pugh clause of a producing well: And they should be entitled to retrieve any gas that comes out of the Haynesville zone regardless of the pugh clause depth. The problem is they do not want to renegotiate any additional mineral rights. I am curious if anyone else has been approached with regards to signing an amendment or anyone who may be knowledgable in dealing with a matter of this nature. Please advise, Thanx
Views: 32
Replies to This Discussion
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Permalink Reply by Bobi Carr ("parker") on
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Hayeyeah,
Did Pinacle specify what the depths were that they used to define the HS? If not I don't understand why they would need more that 100' beyond where they decide to drill.
They may want to drill a Cotton Valley well and hold your property.
What Parish is your property located in?
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Permalink Reply by Two Dogs, Pirate on -
I am sure many with vertical Pugh Clauses have been also aproached with the same deal. It would depend on the language of your Vertical Pugh. One thing this does do is give you the chance to maybe release anything above the Haynesville back to you.
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Permalink Reply by Bobi Carr ("parker") on
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Two Dogs,
I wish I could get my shallow rights back also.
But don't you think this is them just trying to re-define the Smackover (or other Jurassic formation) as part of the HS?
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Permalink Reply by Two Dogs, Pirate on
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Could be but before I would make a deal I would at least try to get back what I could above and below. Pinacle may have been working for themselves and not for HK because Haley stated the lease was granted in March.
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Permalink Reply by Haleyeah on
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I live in Webster parish. The way I understand it is the Pugh clause only gives them the rights to 100' below the depth of a well that is producing. If a well was producing at 10,000' they are entitled to retrieve gas at 10,100' or any depth above that but not below. In other words if they hit at 10,000' and at some point in my section the shale dipped down to 10,300' then they would not be able to get this gas without releasing to that depth. What I don't understand is why they are not wanting to renegotiate with me. They told me that they just want what would rightfully be theirs if gas was located anywhere in the Haynesville zone regardless of the current pugh clause as written in my lease. I told them that all I want is what is rightfully mine!!! We are currently at a standstill at this time. I'm trying to get some helpful input as to where to go from here or better put...I Need Help!!!!
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Permalink Reply by Two Dogs, Pirate on
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Snake Stewart has a thread about this somewhere but it seemed they were offering $3500 per acre.
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Permalink Reply by Two Dogs, Pirate on
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First out thread under Webster Parish group.
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Permalink Reply by Bobi Carr ("parker") on
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Haleyeah,
I would suggest you get together with the other mineral owners in your unit. You can get the names from the Department of Conservation since there is already an existing well.
Work together before they pick off the people who will sign anything.
You signed a lease with a pugh clause for a reason. The reason being that they would have to come back to you to produce from another zone. What would be the point of putting the clause in at all if they aren't willing to "ante up" for the additional zone.
Don't squander your opportunity to get the lease that you can now that you are better informed.
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Permalink Reply by Bobi Carr ("parker") on
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DON'T FORGET THERE IS STRENGHT IN NUMBERS.
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Permalink Reply by Two Dogs, Pirate on
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Parker I haven't read where a well has been drilled.
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Permalink Reply by Haleyeah on
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Let me clear up something. I haved leased but there has been no drilling operations started or gas discovered as of yet. They approached with the intentions that "we need to perfect the language in your lease before we begin forming our drilling units". I was also led to believe that if I signed this amendment it would help expedite matters and if I did'nt that the gas companiies generally follow the path of least resistance. Only a few people in my section signed with Pinacle and I know that one in particular has already signed the amendment. They got me once and I am trying my best not to be had again!!!
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Permalink Reply by Two Dogs, Pirate on
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You need to share the exact words of the clause with us. If it says 100 ft below the deepest depth drilled all they got to do is drill deeper to hold you. If it says 100 ft below the deepest producing formation all they got to do is drill deeper but if it says 100 foot below the base of a named formation you may have them by the butt.
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