Replies to This Discussion

Permalink Reply by Jody Robertson on September 4, 2008 at 14:25

Kat,
Word of advise- stay away from them. We learned first hand that all they wanted was to flip leases! They paid us $100 an acre and flipped for just shy of $10,000 an acre as indicated in FEC report (Google Caddo Resources LP). Best thing is to inquire about actual major drillers with technology to do so in region.
Jody

Permalink Reply by Kat S8/T18/R15 on September 4, 2008 at 14:37

Thanks for the info! My question is: if we are holdouts in our section, does it matter if we lease with a drilling company since the operating rights have already been decided? Should we be more concerned with the amount of the bonus and the terms of lease?

Permalink Reply by Jody Robertson on September 5, 2008 at 15:56

You should attempt to find out who is leasing in your section and attempt to contact a representative of said company or companies. I would investigate what your neighbors have gotten and gauge against that. Another indicator is whether you have leased before, the expiration of the original lease if applicable. If leased before and currently under lease top leasing seems to have a bearing on monies. The oil companies are pro's at this game and we are all playing catch up! Just do your research and hope it works out.
GOOD LUCK- Jody