Replies to This Discussion

Permalink Reply by Kassi on July 21, 2008 at 12:38

What township and range are you in? You need to organize with other land owners. That is what I have done with 4 sections in stonewall. There is more power in numbers because the companies prefer large blocks of land. I would be happy to discuss it with you.

Permalink Reply by Jamie on July 21, 2008 at 12:56

I'm in 15N-14W. I think we spoke on the phone once and you sent me some tips on what to look for in a lease. Thank you! I'm up to $15,000, and waiting for a counter offer. I am in no hurry, and would like to organize, but as I said before, most of the landowners around me have already leased. . .sadly for $250 - $1000 an acre! Any ideas you have would be great!

Permalink Reply by Kassi on July 21, 2008 at 13:16

Oh yea, I remember. Not easy being out there on your own but you are doing great! What companies are you working with?

Permalink Reply by Jamie on July 21, 2008 at 13:47

Chesapeake & Petrohawk. I called XTO, but I don't have 5 acres so they aren't interested. And Theophilus is only leasing from state agencies. Are any other companies speaking with those of us with less acreage? And, you've been doing great with your organization. . .it takes a lot of patience!

Permalink Reply by M. Mcwilliams on July 21, 2008 at 15:16

I'm in 15-13 and only have 2 acres. Petrohawk is telling me it will be 4 weeks before they can talk to me, and a Chesapeake guy hasn't called me back since I talked to him last Monday or Tuesday. I THINK that someone I know who has 1.5 acre in my Township and Range signed for just under 20K last week. I stress that I think this, because she agreed not to reveal the final amount.

I'll be glad to talk to you, but I don't know what strategy we could employ, we don't have enough collectively to do a lot with. My situation with my neighbors is a lot like yours, too, it seems like everyone else leased 2 or so years ago.

If you want to, email me at rita205 (at) yahoo.com.

Permalink Reply by Kassi on July 21, 2008 at 15:43

The O&G Companies are extremely busy. Be patient, they do get back with you. It just takes time.

Permalink Reply by M. Mcwilliams on July 22, 2008 at 0:33

There's one thing that makes me nervous about waiting. Winchester and Long Petroleum leased up all around me, and leased my neighbors 2.5 years ago. They have drilled, and are still drilling, in sections to the west and south of me. Not knowing what they might do makes me nervous. If they have enough in leases in my section to want to drill, they could ruin my chances for a good lease bonus by coming into the section and drilling a shallower well - I'd either have to take what they might offer, or go it on a participation route (and I don't want to do that). Other than this uncertainty, I'm ok with waiting - after all, 6 weeks ago, prices were lower than they are now.

Any thoughts on this aspect of my situation? I'd appreciate your thoughts or comments.

Permalink Reply by Jamie on July 22, 2008 at 2:07

McWilliams - Which section are you in? I imagine getting together a small group, even if we only scrounged up 50 acres all together, would allow us to negotiate more aggressively!

Permalink Reply by M. Mcwilliams on July 22, 2008 at 2:38

I'm in Section 21. Email me. Maybe we can get a plan together.

Permalink Reply by DESOTO EXCIT on July 21, 2008 at 15:54

To begin, I am not real favorable of xto right now! I have
owned my land and minerals for 4 years and was not contacted by
them- when I finally found out who had the lease (3 months ago)
I have talked, e-mailed-faxed paperwork after paperwork and still have
not received the first dime--Maybe I am due backpay! Reckon! On the otherhand
You will hear from somone, you will be in that 600 (+) acre track somewhere
and someone will recognize you---be patient- they are coming!!!!!!!!