Replies to This Discussion

Oil & Gas ProPermalink Reply by Skip Peel - Mineral Consultant on April 25, 2018 at 2:16

State registration is not a requirement to do business in Louisiana however many corporations do so whether headquartered in the state or not.  An O&G lease does not have to be with a registered company to be binding.

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landownerPermalink Reply by Bob Zimmerman on April 25, 2018 at 9:17

Must register if doing business under another name?

https://www.legalzoom.com/articles/file-a-dba-in-louisiana

Also, registering with the LA Sec. of State lets you pay for an in-state agent of process whereby you can be legally served with documents, aka sued.

An out-of-state business entity not registered with the State of Louisiana ought to raise a big red flag.

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Permalink Reply by lee on April 26, 2018 at 4:44

They have been buying in East Texas Counties lately, they are legit and they pay.

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Oil & Gas ProPermalink Reply by Skip Peel - Mineral Consultant on April 26, 2018 at 4:53

Being legit and paying do not establish what they are paying.  That, as always, is the key question.  With low natural gas prices and development concentrated in specific areas, the question is one of fair market value.  That is, more often than not, difficult to ascertain for laymen.

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landownerPermalink Reply by Bob Zimmerman on April 28, 2018 at 5:17

<with...development concentrated in specific areas>>>

Is seismic technology advanced now that it might cause such a concentration of drilling?

People in the field used to think they were getting close to identifying natural fracturing down below or the lack of it.

That would explain a lot about where lease hounds go and don't go. 

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Oil & Gas ProPermalink Reply by Skip Peel - Mineral Consultant on April 28, 2018 at 5:51

This area is inconsistent and complicated from a stratagraphic sequence  and dip standpoint as it is on the slope of Natchitoches Island.  The Haynesville Shale thins and then faults out against the island. 

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landownerPermalink Reply by FTW on May 5, 2018 at 5:59

Just got another letter on May 5 2018...this one from Red Stone Resources out of Edmund Oklahoma.

http://redstoneresourcesllc.com/

******

Another Minerals Purchase or Minerals Lease general letter that was addressed the same way as the other letter so must

be using the same data base/list of property owners.

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Oil & Gas ProPermalink Reply by Skip Peel - Mineral Consultant on May 5, 2018 at 10:02

If the letter does not contain a specific dollar amount, it is a fishing expedition. It is highly likely that redstone has not performed  any detailed research to establish a fair market value.  They may do so if you express interest.  If your minerals are in Natchitoches don't be surprised if the offer goes away once the company looks more closely at the mineral history.

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landownerPermalink Reply by FTW on May 5, 2018 at 10:42

Thanks.

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Oil & Gas ProPermalink Reply by Skip Peel - Mineral Consultant on May 5, 2018 at 13:59

You're welcome.  If you are curious, call them.  I'd be curious to see how aggressive they are about pricing Natchitoches Parish minerals.

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