Petrohawk says the 2008 Land Grab is over!
I was at a lunchen today with a speech given by a VP from Petrohawk. It was an infomative talk about the HA. He did say that the Hawk and CHK are partnering up on some wells, and are trying to work together instead of creating competion in the leasing game.
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Replies to This Discussion
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Permalink Reply by The_Baron on
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Do you believe that a small minority should be able to restrict the rights of the other mineral owners in favor of exploration?
The drill site will not be located on the unleased mineral owners land. Nor will any pipelines, lease roads, tanks, compressors, etc.
And they unleased mineral owner will get all of the profit (revenue-expenses) from their pro-rata share of the well.
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Permalink Reply by The_Baron on
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Violating property rights without a lease would be a matter for the Sheriff. No matter what a landman has said. We have established that some leasing agents have discraced the profession. Notice I don't call them landmen, a true landman operates under a code of ethics.
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Permalink Reply by The_Baron on
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No machine.
Just many individuals, some with little or no experiance trying to buy as many leases a possible.
Like a fire ant bed that has been stepped on.
Except, there was no "queen ant" or central athourity.
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Permalink Reply by Grillin' - MmmMmm on
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KB: without forced pooling you'd see wells drilled nearby an unleased property and hydrocarbons being draining underground. Only protection would be to have to drill a well offset to protect from drainage. That's why forced pooling is there. In other states you find wells offsetting wells, resulting in too many wells drilled, more money spent and overproduction. I can see where forced pooling is actually protecting the unleased mineral owner. Plus, you get 100% of the proceeds of the production after payout and expenses. Pretty good deal!
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Permalink Reply by The_Baron on
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Look at the old photos of downtown kilgore, TX.
Rigs were base to base, everyone was trying to get the oil out before their neighbors did.
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Permalink Reply by Skip Peel - Mineral Consultant on
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For a real world example of the problems that forced pooling was designed to protect against, read "The Last Boom" by James A Clark and Michel T. Halbouty. Very informative and an entertaining read. The East Texas Field of the 1930's was such a disaster from a development perspective that the conditions there led to many of the concepts that make up mineral regulations today. Proration, allowables, well spacing, setback requirements, pooling, etc.
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Permalink Reply by Skip Peel - Mineral Consultant on
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Jim. I remember seeing Mr. Halbouty on television in news interviews and occasionally on programs pertaining to the oil business. I remembered his face but not his background. I have a new found appreciation for him and his contemporaries. The Oil Business was materially different in his day. But then again, quite a bit is still the same.
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Permalink Reply by walter on
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People in this play were very lucky to even have the chance to lease for these
cazy prices just like the Barnett play over here in the Metroplex. If you get a well
drilled on your land you will make more money than most on this site would
have ever made just by luck so stop wasting all your time dicussing the obvious.
There is way too much gas in the USA now and probably will be for some time to
come. Be thankful for whatever you get but don't bank on any more booms like
the the one we just witnessed for decades, if ever. Price fixing on leases, what a bunch of morons would even think such an ignorant
thought. It was like the lottery for a while and you can mainly thank Chesapeake
for the bulk of it all over, but they will pay for their reckless business practices.
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Permalink Reply by CleanerEnergy on
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Guess again, Walter. Don't you think that Chesapeake has a pretty good idea of how to conduct leasing of acreage after leasing as many acres as they have? They didn't just say, "Hey, I think we will just throw lots of money away needlessly." They wanted those leases for as little as possible but got into an auction with their competitors and that drove the price up same as huge demand drives the price of anything up.
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