Recent offers left on the door step......be wary.
Be careful who you deal with.
I had an individual leave a note on my door, then left an example contract with $500 acre 3/2 on the years indicated a few days later. I checked on the company and found them to be a legit and called his number and talked a while trying to get info. Couldn't get too much other than they are ready to start doing some drilling. LOUTEX-SOVEREIGH LLC was the company. I kept the paperwork and told him I would wait and see how things in the area would progress.
A few weeks later, someone came to my house and spoke with my wife, said they were with ANADARKO, said they were offering $600 acre and a 3/2 contract.
Wife told him, he'd have to talk with me. He said ok and left.
Thing is, he didn't have any business cards, he said he had run out because he had been talking to all the landowners around my area. BUT didn't even leave his name and number on a piece of paper or ask for paper.
Haven't heard from anyone since.
Views: 1545
Replies to This Discussion
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Permalink Reply by john goodday on
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Where is your property in Jackson Parish located?
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Permalink Reply by Skip Peel - Mineral Consultant on -
We have discussed both LOUTEX-SOVEREIGN LLC and LOUTEX ENERGY previously. You can enter the name in the search box on the main page to review that discussion. Both companies appear to be speculating in leases. Neither is an operator so they don't drill wells. They may participate as a Working Interest in wells drilled by another company. Or they may assign their leases for an Over Riding Royalty Interest.
You may get a higher bonus from a speculator but you won't get the royalty that you can likely get from an operator. Most operators intend to have a 75% Net royalty Interest so that leaves 25% for others. The speculator wants to take leases with a three sixteenth or one fifth royalty as the difference is their profit going forward IF productive wells are drilled. There is nothing illegal with speculating in leases. It entails risk like all other O&G investments. It's up to the mineral owner to educate themselves and then make their decision.
Ask questions and if you are not satisfied with the answer don't lease to that company,
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Permalink Reply by Skip Peel - Mineral Consultant on
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You're right, lee. Anadarko is not involved. I asked just to be sure. I think someone is confusing Anadarko with Antrim Exploration which is offering leases in that general area.
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Permalink Reply by Jesse Joyner on
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Could be ya'll know way more than most. But the oil patch always has a few unexpected twists and surprises. APC is a very aggressive company when they get a burr under the saddle. Drilling fiends, coming in from offshore. Still, their M.O. is to gobble, to JV.
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