If a company made a lease offer in 2008 and Disappears will they come back with another offer in 2009
In 2008 a bunch of land owners had offers presented to them does any one think that they will be back with a new offer are should they forget about the offers altogether and go on with their lives
Views: 76
Replies to This Discussion
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Permalink Reply by Ouiser on
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I would say go on. I know people in the Pelican and Wallace area signed contracts last JUNE and most have yet to see their money, so I would say their contract with XTO is now null and void. I believe they had 90 days to check out ownership etc. etc. and pay. They have heard nothing.
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Permalink Reply by The_Baron on -
The market for flipping leases has cooled down. Many offers will not be honored. Go on with your life.
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Permalink Reply by Charmine on
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Can't worry about it, you still got your regular business to conduct. Yes, they MAY come back though. My landman is working our tract again, and he called after 8+ months after his "final" offer. Yes, the offer was much lower, but I'm thinking about it seriously now. Good luck!
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Permalink Reply by Checkmateking on
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Another thing to think about is with prices so low and the blanket leasing over, companies are focusing on single sections rather than grabbing whatever they can .
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Check- what's your theory on why the focusing on single sections? Do you think it is just to tie up some loose ends and try and get more of the puzzle pieces together, or because they are trying to narrow down a specific area because they have a well location in mind?
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Permalink Reply by Checkmateking on
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Just economics, the money is tight, you want as much of the unit for yourself as possible. If you were a company and wanted a section would you go after one with 3 landowners and 3 leases to get or go after a section with 300 landowners and 300 leases. Alot of it comes down to infrastruture. You want to put together blocks and lines, this is where alot of horsetrading comes into play.
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OK Check, You said, "you want as much of the unit for yourself as possible" Am I confused on how units are formed? I thought the unit was formed by the company, after they aquired enough acres to form a unit. Are units commonly formed with more then one operator working the unit?
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Permalink Reply by Allen Pierce- Getting closer! on
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Hello PBOL. I am also in the negotiating process with leasing in Shelby County. I have more questions than answers, and it looks like I have reached the peak as far as offers from companies to lease. I would be interested in following your case to see how far you can get. Not there yet! Good luck!
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