Replies to This Discussion

Permalink Reply by Pro Hobbs on February 24, 2012 at 10:52

Thanks Aubrey.  I did discuss the option of excluding those zones with the landman.  He came back later and said that Sampson would not negotiate those terms and would only negotiate the 3 year extension option.  Long story short,  we went ahead and signed with them.  They gave us a draft and it just cleared.  You are right, I probably could have gotten some other offers if we would have held out longer.  Our property is in an area that has not been leased for several years and there have been several wells drilled to different depths with no production over the course of the last 20 years.  I guess I had sort of written off the chance of leasing again and was really surprised when the offer came along.  I just hope Samson-Contour turns out to be a reliable partner and not just a "flipper".  I will keep a watch on the forum and try to stay informed.  Thanks again for all your advice and help.  I will keep folks posted if anything develops in the future.

Permalink Reply by Skip Peel - Mineral Consultant on March 5, 2012 at 6:02

JBL Land has not filed a lease with the Bossier Clerk of Court as of this date.  Samson Contour has filed a handful of leases for Sections 5, 6 & 7 - 23N - 11W and Section 12 - 23N - 12W.

Permalink Reply by LMC on March 5, 2012 at 14:05

Do you think JB Land Services will file when the whole section is leased?  I talked to a landowner in 17-23N-12W and he has already signed.  In fact the landman told me that my family is the last ones to sign in that section. 

Permalink Reply by Skip Peel - Mineral Consultant on March 5, 2012 at 14:16

That's a possibility.  Land companies tend to file leases in batches.  If the total number of leases is relatively small, they could wait until they have them all especially if there is no competition.  LA. is a "race" state meaning whomever is the first to file a lease for a particular tract with the parish clerk of court has legal primacy.

Permalink Reply by Lisa K. Sale on March 19, 2012 at 16:11

My husband's family has recently inherited mineral rights (not land). Samson has sent a letter to lease. It's in TS23, R11, Section 5, mostly all in Bossier and a few acres in Webster. Found this website, would like to find out more information on that area. Any idea of offers? Bonuses? Are the offers for mineral rights AND land? Or just the mineral rights? I have no comparison to go off. Thank you for any information you can pass along!

Permalink Reply by Pro Hobbs on March 20, 2012 at 9:45

Lisa, We have property with minerals in sec. 5 and we have leased with Samson.  We got $250/acre and 20% or 1/5th royalties.  The landman that leased ours for Samson was working for Mark O'neal Associates out of Shreveport.  I just talked to a senior landman with Mark O'neal Associates yesterday about any progress that Samson-Contour was making on getting a well permitted.  I contacted him on his cell phone and he told me that he was on his way to Florida and that Samson had pull out of that play.  Sounds like to me that they probably wont be leasing any more minerals in that section.  He would not elaborate on why they pulled out of that play so your guess is good as mine.  If they do follow through with more leases, then they will give you a draft which takes about 2 or 3 months before you will actually get your money.  They issued us a draft in December, 8, 2011, and it finally cleared and we got the money deposited in our checking account in late February.  I have heard that there are some other companies that are leasing north and west of us but I haven't seen anything to substantial.  Hope you get to lease.  Did you read all 4 pages of this thread?  There is a wealth of information on this site if you have time to read it.  Keep subscribed to this forum and let us know by giving updates on how the negotiations or going and if you are contacted by anyone else.  I wonder why they did not send a landman to present you with a lease?

Permalink Reply by Skip Peel - Mineral Consultant on March 20, 2012 at 9:53

Still no JBL Land leases filed with the Bossier Clerk of Court as of today.  Samson Contour filed 6 leases on March 16 for tracts in S1-23N-12W and S5-23N-11W.  In the past, before they were acquired by KKR, Samson Contour's business model was to take leases, form units but drill very few wells.  They wanted to participate as Working Interest in the wells operated by others.  Their MO may be the same or may change now that they are under new management.

Permalink Reply by Lisa K. Sale on March 20, 2012 at 11:03

Thank you so much for replying! I did read the previous 4 pages, it's wonderful that people are willing to share their knowledge and I'm so appreciative of the open and honest answers. We received a draft, no mention of bonus money and 1/8 royalties for mineral rights only. The offer came through a Mark O'Neal representative on behalf of Samson. We have approximately 120 acres of mineral rights in TS23N - 11W in the southeast portion of Section 5. We returned the draft because it was not titled properly, however we have not heard anything else. Is bonus money only paid when the land and the mineral rights are owned together? Does one company lease the land and another lease the mineral rights? It sounds like you were very fortunate to have gotten your lease signed and check cashed. Thank you for starting this thread, it's been so helpful!

Permalink Reply by dbob on March 20, 2012 at 11:12

I was contacted by a recruiter work for Samson shortly before KKR made the purchase - I was in process to interview for a position out west, and when the pruchase by KKR was made, it was delayed indefinnately.  Based on discussion with recruiter, the company is pivoting a great deal.  I wouldn't be surprised to see some divesture of certain holdings.  That said, the family that had run Samson is still operating their off-shore and gulf coast properties.  Maybe in the right environment, those folks will be back in the area.   

 

 

Permalink Reply by Skip Peel - Mineral Consultant on March 20, 2012 at 11:22

The mineral estate is superior to the surface estate under LA mineral law.  Only the mineral owner can lease their right to develop minerals.  A bonus is paid to the mineral owner in exchange for entering into a lease agreement that conveys the right to develop the minerals covered in the lease.  The right to develop minerals includes rights of access and use of the surface to enable production of the minerals.  Other than minimum setbacks for inhabited structures and out-buildings, the surface owner has no say in how the surface will be used to develop the minerals.  Most O&G companies however will take under consideration reasonable requests as they relate to the current surface use.  Examples would include paying for surface locations for well sites, roads and rights-of-way and locating those uses in a way to minimize impact to existing uses. 

And Lisa, a 1/8th royalty is an "opening offer" and is not compatible with the current royalties paid for O&G leases in NW. LA.

Permalink Reply by Lisa K. Sale on March 20, 2012 at 11:54

Skip - I have read dozens of your postings, and I believe you had stressed the need for attorney involvement prior to lease signing. Granted we do not have anything in hand as of this date, but hopefully we'll get a corrected draft back soon. I had wondered if a 1/8th offer was just that - a starting point - but this business and language is totally foreign to me. Since it looks like there have been leases taken out in the area we own, I hope that means we will get a corrected offer to lease soon. But no guarantees I guess...

Permalink Reply by Skip Peel - Mineral Consultant on March 20, 2012 at 12:02

Lisa, "corrected" is not the best term IMO.  "Negotiated" would be better.  Being informed is the key to knowing "what" to negotiate for.  I generally recommend anyone with more than 10 net mineral acres seek professional assistance.  Even if the cost is roughly equal to what you would receive as a bonus payment.  In the majority of cases the bonus is spent and long forgotten while the lease remains in force and the ongoing compensation is predicated upon the royalty and other lease terms.

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