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Permalink Reply by king john on July 26, 2009 at 20:55

IMHO---- it is much better to let them contact you. by contacting them it shows a sign of weakness! it tells them you are in a hurry and thats when they will cut you the bottem of the barrel deal. some people cant wait, but if you can let them contact you and you are in the drivers seat! isnt that where you want to be?
kj

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Permalink Reply by Skip Peel - Mineral Consultant on July 27, 2009 at 2:13

Randy. The majority of HA drilling units (sections) in your area are Chesapeake, not Shell (SWEPI) although Section 1 to your immediate east is a SWEPI unit. Chesapeake has the most units in your township and in 13N -13W to your north. 12N - 12W to your east has units by six operators/companies: Long Petroleum, SWEPI, Pinnacle, EOG, Chesapeake and Petrohawk. Chesapeake and Long Petroleum each have 5 and SWEPI has 1. You may contact SWEPI at 281-544-2121 and Chesapeake at 877-CHK-1GAS. It is better to wait to be contacted as far as lease negotiations go. And to collect and review all the legal documents concerning your mineral interest in advance. It is difficult to determine at this time which company would have the most interest in your section. And contacting an energy company is a sure fire way to get their lowest offer. If they make one at all. When a company is interested in developing your section, they will find you. And you should have completed your homework by then and be ready to negotiate. Good Luck.

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Permalink Reply by Henry on July 27, 2009 at 7:33

Randy,
For a while, SWEPI was represented by Coastal Land in Lafayette. Phone number is 337-291-2910. I don't know if they are still leaseing for SWEPI or not.

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Permalink Reply by sesport on July 27, 2009 at 8:12

Randy - king john & Skip have sound recommendations. My neighborhood has been watching for a year now, we've organized, been talking, doing research, contacting professionals. We watched as BK 37, and others. drilled in the section right across from us and nearby. We waited patiently and now someone is "reaching out" to us. We have a lot at stake other than just the money. We're prepared to do a little driving ourselves.

Good luck to ya' - sesport, well educated & prepared :0)

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Permalink Reply by Randy Harris on July 27, 2009 at 8:40

One more question. This is heir property, does the number of heirs matter as far as value of of the lease is concerned? There may be fifty of us on one of the tracts.

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Permalink Reply by Dion Warr, CPL on July 27, 2009 at 8:53

Randy:

Shouldn't matter in the slightest. Landmen get paid to find you, drive to meet you, do mailouts, and sign you up. If you're worried about being treated equally, have them prepare one lease form for everyone with counterpart language so that they can make copies and distribute them as necessary. Just make sure that they prepare the rental division order and bonus payments such that each owner receives their proportionate interest in the whole.

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Permalink Reply by Randy Harris on July 27, 2009 at 15:41

Thanks a lot everybody. It was very helpful.

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