Replies to This Discussion

Permalink Reply by WELL O N3 on August 28, 2008 at 3:13

read this on another site thougth i'd pass along...

Natchitoches, LA

Oil Field land leasing?

BEWARE BEWARE of who you do business with. For anyone in Robeline, Marthaville, Belmont etc. We were approched by an agent (very nice young Natch.Parish man) for a lease. On July 15th we signed a oil and gas lease. We were presented a 15 day site draft drawn on a Many bank that has a branch in Robeline. It was entered that day. After 25 banking days It took several days to get the agent to call us and we were informed "then" additional paperwork was needed. We took care of this on August 15th and we were told payment would be be made on Aug 18 or 19. Come to find out this agent works for a local Marthaville Company. When I called one of the officers I was told she didn't give a s**t and didn't know anything about it. To date. No payment has been made. The agent nor officers will return our calls. BEWARE BEWARE I feel like we have been lied to for some reason and I question the integrity of these people. Anyone wanting more details let me know thru this forum and I will let you know how.

Permalink Reply by msfva on August 28, 2008 at 8:03

So... the good news is that since July 15, prices have gone up! Get out of this deal, and go get a better one. Good luck. Shell has just created 25 new production units in southern Sabine Parish. This tells me that they think there is good stuff to be had. Don't lease for cheap.

Permalink Reply by Denise on August 28, 2008 at 8:20

Absolutely, this could be the answer to a prayer that you didn't know you needed. I truly hope so. We need some good things to start happening down in sweet Marthaville. Keep your chin up!!!! By the way, thanks for taking the position to share this crappy deal with us that you were dealt.

Permalink Reply by Bird on August 28, 2008 at 8:18

It is my opinion that legal advice should be sought before anything is signed. What I've read, 80% of folks who signed leases in the past do not know what they have signed. Hoping for the best!

Permalink Reply by Two Dogs, Pirate on August 28, 2008 at 10:08

It would be a good idea to go to the Clerk Of Court and ask about the company and the Landman. Most experienced landmen are not going to work for a crooked outfit. Some of the new blood coming into this field don't know beans about what they are doing, they don't know if they are ripping you off or not.

Permalink Reply by Glover N1 on August 28, 2008 at 13:12

I strongly agree with Bird, legal advice should be sought before anything is signed. Two Dogs has a good idea going to the Clerk of Court and asking about a company and landman. We need to learn as much thru this forum as we can and by all means let others know of these bad deals that are going on.
Good Luck to all.

Permalink Reply by Dirtcheap on September 17, 2008 at 3:52

Like everyone said, go for bigger and better things. One monkey don't stop the show. Just get over it and find another deal. The first one don't always work out and you find a better deal.

Permalink Reply by Gingerbread Latte (N7)(T9N-R10W) on August 28, 2008 at 12:19

Is there anything we should be doing now to protect any money we might get from lease and/or royalities? Any way to shield it from taxes? Do you think our local attorneys are up to the challenge of editing a proper agreement? I doubt they've done it much.

Permalink Reply by Bird on August 30, 2008 at 8:54

The royalties of 27% is better than 25%. Also, I've heard to ask for a bump up when the cost of the well is recovered. Ask for a third and they'll settle for 30% . Flow of the gas will be where the best revenue is, and up front agreement when leasing has a huge factor on the amount received in the future.

Permalink Reply by K Moore on August 31, 2008 at 6:08

Another rumor is out about someone leasing land on hwy 120 near Settle's Garage in marthaville for $13.5? Can anyone confirm this? Know the company leasing?

Permalink Reply by msfva on August 31, 2008 at 7:30

Maybe offers are at $13.5k, but you can do better. Shell has just formed production units all over northern Sabine Parish. Any lease is worth a lot more than $13.5k/acre. Prices in southern DeSoto are finally going up. It is only a matter of time before Sabine Parish goes up too. Your gas is just as good as the gas in DeSoto Parish.

Permalink Reply by Bird on August 31, 2008 at 14:32

Thanks for that information. Also, they have given different prices in different parishes, Sabine and Natchitoches. The gas doesn't know where a parish line is.................. Chesapeake has over 500,000 acres. That divided by a section of 640 acres is 871 sections. That is a lot of drilling to accomplish in three to five years, according to the lease terminology. All companies have different lease expectations. A good Exhibit A should be used by the land owner. Below 5000 ft. 1000 ft. from any building. footage of puke clauses, etc.

• ‹ Previous
• 1
• …
• 4
• 5
• 6
• 7
• Next ›
• Page