Home Owner...Help in Getting a Lease Contract
Drilling is being done near my home and I, along with about 50 other home owners, have not been contacted to lease. What steps should I take to get a lease agreement. Home owner: The Briarcliff Addition T16N, R14W Section 8. Thank you.
Views: 74
Replies to This Discussion
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Permalink Reply by Skip Peel - Mineral Consultant on -
Eva just be patient. Chesapeake will want every acre and lot in the drilling unit for this well under lease. The chances that you would be missed is slight as it is for all the other home owners. If I was in your position, I would remain quiet and hope that they don't find me until the well is complete. Spend some time on the site and become better informed as to the leasing process in the meantime. Good Luck.
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Permalink Reply by Eva. J. Harris on
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Skip Peel: Thank you for the information. I will do some further homework on the matter. However, if you can share some insight on this....what position does this place me in when other home owners in a near-by sub-divisions are already receiving funds? This has truly been an interesting adventure in learning about money under the ground (smile). Thank you for taking the time to respond.
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Permalink Reply by Skip Peel - Mineral Consultant on
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Even though the other subdivision is nearby, it may be in another section which is the drilling unit for a different well. If you go looking for a lease offer now, you will likely get one that is an "opening" offer. The best lease terms should be on the table when the well is ready to be "turned to sales". Then the operator of the unit will make a push to get all remaining unleased mineral interests under a lease. Take you time and study the information available on the site. Just realize that your opportunity to negotiate will be limited by the fact that you own a residential lot which represents a very small fraction of the mineral acres contained in the section/unit/
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Skip: Thank you so much! Hope we can stay in touch. You have enhanced my knowledge on this matter.
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Permalink Reply by kittycatmama on -
seegasoil@comcast.net is the email address for the Briarcliff group (Sec. 8)
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Permalink Reply by kittycatmama on
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Eva, there is a large homeowners group in Sec. 8. Contact Mr. Medlin who lives on Mesa between Leaside and Chapparal. He is in the phone book. He is in charge. We also have some raw land in Sec. 8--Briarcliff-- and are going as non leased mineral owners (as are several other people in Sec. 8) because Chesapeake would not pay decent lease amounts. Sec. 8 well is completed and waiting on Sonris to report production. Sec. 7 well came in at 17mcfc!!!!!!!!!!!!!!
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Kittycatmama: Thank you very much. I will give Mr. Medlin a call. What was the offer at the time you spoke a rep from Chesapeake?
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Permalink Reply by Les Bamburg on
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Eva, as KCM suggested I would definitely contact the Section 8 homeowners group and find out there current position and plans. The aggregation of small land owners provides more leverage and expertise in negotiating lease terms.
By the way this should be the well in your section:
Chesapeake, Taylor-Potter 8 #H1 Well, Serial #240573, S8-T16N-R14W
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Thanks for the info. I was apart of a group early on and the group grew very large. Later the stock market dropped and I never heard back from the group leader. I will contact the Section 8 homeowner group. Again, thank you.
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Permalink Reply by The_Baron on
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This well has already been drilled, as of April 1 it is waiting on frac.
It is possible, and I am only supposing as I have NO knowledege of this particular section that the minerals under your subdivision could be part of a larger servitude that has had prescription interupted by a well in another section. As I said, I am only supposing here.... If you really want to be leased though, why not give Chesapeake a call?, If you do own your minerals, They may be willing to negotiate with you. They will not pay you the high rates that were paid in the past, but you could get a decent bonus.
I will say that I have had the experiance of being involved in a Chesapeake well as a WI, and they are pros at beating you down for every extra dollar. I would definatly prefer a RI behind my name.
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Thanks I will check into this further.
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