What are leases going for right now? Here is an example from Caddo Parish

When the state along with municipalities and school boards accepts bids for oil and gas leases on their property it is advertised and put out for public bid.  The operators that are active in the area receive the notices and bid accordingly.  Follow the link below and you will see that the parish of Caddo received bids in the $8,000/acre range while the city received bids for a large tract in the $9,000/acre range.  Both the city and the parish set a minimum per acre bid of $5,000.  The Caddo Parish School Board in its' infinite wisdom, mandated a minimum bid of $10,000/acre for their tracts.  This strategy resulted in NO BIDS.  Thoughts anyone?  

Jay

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Replies to This Discussion

Permalink Reply by Checkmateking on April 18, 2010 at 4:50
19N 13W, 0 dollars
Permalink Reply by The_Baron on April 19, 2010 at 3:08
lol
Permalink Reply by sesport on April 19, 2010 at 12:01
Baron - I wanted to add "priceless" like the credit card commercial, but sometimes my humor irritates more than it humors.

80)
Permalink Reply by cccm on April 19, 2010 at 3:18
when 10k-20k in 2008 was the norm gas prices were between $10-$12 dollars. Now gas is holding right around $4.00. Do you all not think that the bonus should reflect somewhat on how the commodity is actually trading for?
Permalink Reply by The_Baron on April 20, 2010 at 3:49
It is certain that prices will rise. The problem the then When.
Permalink Reply by Checkmateking on April 20, 2010 at 4:52
Reminds me of what the guy I bought my car from said, he told me this.

"I can only guarantee you one thing about this car son, and that is that it will break down, might be tomorrow or 10 years from now, but I can guarantee that"

Now that is an honest salesman.
Permalink Reply by Mike Ethridge on April 21, 2010 at 4:24
By putting a minimum of $10k on there acreage they outpriced themselves out of the market.
Permalink Reply by Checkmateking on April 21, 2010 at 4:28
I don't even know why they would want to lease in this market, or any government entity for that matter, not that it matters, they will just blow the money anyway.
Permalink Reply by BYRON TUCK on April 22, 2010 at 5:23
What are leases going for in Nacogdoches Counyt,Texas?
Permalink Reply by Skip Peel - Mineral Consultant on April 22, 2010 at 6:32
bt. I suggest that you read the discussions in the Nacogdoches County Group, join and post your own questions there.

http://www.gohaynesvilleshale.com/group/adubu

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