landowner

Lease proposal

Hello! I would like some feed back on leasing land in San Augustine County. We have gotten an offer and it is much lower than the two previous leases we have signed. Was told leases are not going for much now. What would be the going rate now? Thanks for any information you can give me. 

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landownerPermalink Reply by Ettie Ruth Pate on October 24, 2014 at 15:16

Jody, I will be happy to share with you what we actually settle for. The  bonus will be 500.00 per acre, 22.5% royalty. Will settle for the 22.5% with cost-free. The land person said a well would be going down soon. Hopefully will not take as long as the Terrier Well took. Our first lease was with Encana and getting close to the five year contract. A Speer survey sounds familiar and will check as our first lease may be in that survey.

Thanks for your comment, Ettie


landownerPermalink Reply by Ettie Ruth Pate on October 25, 2014 at 7:19

Our lease with Encana expires in February 2015. It is in the Andrew Speer Survey A-45. We were so disappointed that we were not in the pool for the Black Stone Unit A-43- well #1H. It was in the the A Speer survey but somehow were told it went another direction as to our land. I have checked and our previous leases does have the cost free royalty. I am not quite sure about the wording on this new contract in the H.H. Hall Survey. Will have to ask land person when we talk with them again which hopefully will be in next few days. 


Oil & Gas ProPermalink Reply by Nat Gas Engineer on October 27, 2014 at 6:48

Ettie,

Thanks for the feedback.  As mentioned, I guess we will wait to see it XTO is interested in leasing us after our current lease expires.  Good to have a reference point (close to our property) for offerings of bonus, royalty info, etc.

Keep us posted. 

Thanks,

Jody

 


landownerPermalink Reply by Ettie Ruth Pate on October 27, 2014 at 15:25

A question that has just come up ---- Is the Terrier Well in the J.S. Collins Survey?We have thought this all along. Our landman told us we were in this well pool. But my brother was in San Augustine today and said that on the well it says William Collins survey. Can it cover two different surveys? Also on my map shows the Terrier in the JS Collins. Any information you may have will be appreciated. Thanks


Oil & Gas ProPermalink Reply by dbob on October 27, 2014 at 16:23

Querry Terrier here  http://webapps2.rrc.state.tx.us/EWA/drillingPermitsQueryAction.do

You can explore further the well permit and look at the plat.    The unit includes parts of the William Collins, J.S. Collins, and Michael Griffith surveys.  

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