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Permalink Reply by Peanut McGee on February 7, 2011 at 9:53

Martin,

No telling. Look at sonris lite website to see if your section is getting permitted for drilling activity. It's usually public knowledge unless there is an insider with an operator giving someone info. Anyway, chances of seeing multiple HA wells in the same section isn't too promising in the near future.

Peanut

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Permalink Reply by Two Dogs, Pirate on February 7, 2011 at 17:58

Martin, yes they are trying to take advantage of you, if they have only sent you letters. It only costs them a stamp and the time it takes to change the address from one person to another that the computer does for them in a split second. Don't be sucked in by their scam. If someone is interested in your minerals they will contact you in person or by phone. These compaines send out blanket form letters to everyone that are on the radar from the assessors office. Don't be fooled by their game. Your area is under their radar as for something to be drilled in the next 10 years because that is what you would be selling, your future 10 years out. If a well is drilled and produces them your mineral sale would be valid for as long as the well produced, and then would go on for 10 years after it stopped producing. If a well is drilled within that 10 year time then the clock would be set back to zero again. This could go on through your Great Great Great Great Grandchildrens lives. Or maybe forever.

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Permalink Reply by True Texan on February 9, 2011 at 18:27

No not really,  I receive letters from these types of companies all the time.  Some want to purchase wells that are producing and other just want to purchase the mineral rights. You need to read these letters very carefully.  They want to find you when you need the money the most. If it’s a producing well I have had them offer as much as three years of currant production that I am receiving.  In other cases they just want the well and or mineral interest for next to nothing.  In some I have found the clause that said by accepting this officer you are conveying all of your mineral interest to that party in that county and or in the whole state of Texas.  I have not and will not sale any of my mineral interest till it’s the last chip on the table.  Everyday they are finding more oil and gas in places they didn’t think it was located.  In some cases they have known it’s there but the techniques were not rip to retrieve the minerals at the time they where found. This is the case with the Haynesville Shale.   Now that they can cross drill it makes it worth the money to drill the wells because they can retrieve more per well.   As of just a couple of months ago they started to say they think oil is below the depth that most of the leases cover.  If that’s the case then these companies will have to pay again to resign new leases so that they can drill to that depth.  If you need some money now I would just sale a percent of your mineral interest.  You can do that if you have a large tract.  There is also a couple of websites out there that broker mineral tracts.

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