Replies to This Discussion

Permalink Reply by Skip Peel - Mineral Consultant on August 25, 2009 at 7:55

wow. I'm uncomfortable with the term "going rate" as it gives the impression of a standard offer for an overall area. Offers are much more specific in 2009 and your township has HA unit orders for 31 sections by six different operators. If you would care to share your section, I'll provide some additional information. The location of your minerals and the nature of your surface are factors to consider in determining value.

Permalink Reply by HS on September 3, 2009 at 7:04

Skip
we are in 12n 10w, we currently just got release from current lease holders on shallow productin, for the deep rights . we are just in the beginning stages of talks with on of the operators in the area. we do not own the surface , but have 600 + mineral acres. they have not made an offer at this time . what is your opinion of bonus and terms at this time over there. i have been been watching the activity in the area and it appears in very good area. appreciate any feed back on this.

Permalink Reply by Skip Peel - Mineral Consultant on September 3, 2009 at 7:25

HS. Interest in, and values for, minerals in your area are beginning to improve. Your release comes just in time. I suggest that you make sure it is recorded with the Clerk of Court. Those operators holding HA units in 12N - 10W are Encana/SWEPI (S1-3, 11, 12, 26, 32) Petrohawk (S4,5) Samson Contour (S31). Part of your township is in the Red River - Bull Bayou Field and part in the Redoak Lake Field. There is a new HA well permit in Redoak Lake (Encana Ralph Webb 26H/SN 240159). You should make a township grid and begin recording HA units and wells. If your section(s) are on or near the edge of the township, make a grid for the adjacent township also. I wouldn't get into too much of a hurry and wouldn't contact any of the operators. Let 'em come to you. But do your homework and be prepared when the time comes. Get your lease terms in order and don't think too much on the bonus until the time comes. Bonuses offers should go up as development activity increases. I think that much will have changed for the better in your area in the next 3 to 4 months. Good Luck.

Permalink Reply by HS on September 3, 2009 at 8:52

thanks skip, we are getting it recorded, plus they contacted us back 3 months ago, that when we started trying to get a release, got it after 3 months . we are in the red river bull bayou and the gahagan field. the two wells north west of us were the petrohawk jacobs 1 and 2 which came in pretty good. anyway appreciate your info.

Permalink Reply by fngrsxnpd on June 10, 2010 at 9:23

You just got the company who held your minerals with shallow rights to release (let go) of the lease and now you can lease the deep rights? Curious because this is my situation as well. Did I understand you correctly?

Permalink Reply by Skip Peel - Mineral Consultant on June 10, 2010 at 10:49

I believe that charles is referring to an "all depths lease". The well that was P&A'ed (Plugged & Abandoned) was an Encana horizontal Haynesville well that had a mechanical problem. The Pride lease was the Encana lease.

Permalink Reply by charles walker on June 10, 2010 at 6:32

I am in 13n 9w sec. 12 my section was drilled awhile back and plug and abandoned due to much pressure. I have great producing wells to the east and west of my property and my lease expired june 9, 2010, yesterday. Where can I start the process to release my property?

Permalink Reply by Skip Peel - Mineral Consultant on June 10, 2010 at 6:48

charles, the first step should be to file a release of your OG&M lease with the Red River Clerk of Court. I suggest that you call the company that held the lease and make a verbal request but then send them a written request by certified mail. Were you leased to Encana?

Permalink Reply by charles walker on June 10, 2010 at 8:51

Yes Pride oil and gas. Will be sending Pride letter next week. My understanding is they are not interested right now. I'm looking for another company any suggestions?

Permalink Reply by Skip Peel - Mineral Consultant on June 10, 2010 at 9:00

You are located in an Encana area. In fact in an Encana Haynesville Drilling & Production Unit, Section 12. Pride is not an operator meaning they do not drill wells. The question is, was Pride leasing for Encana? Or another operator? We should have some Red River Parish members who can answer that question.

Permalink Reply by charles walker on June 10, 2010 at 9:12

Yes it's an Encana Lease

Permalink Reply by Skip Peel - Mineral Consultant on June 10, 2010 at 9:18

Then that is not a good sign, charles. Unless of course someone at Encana,or Pride, slipped up and did not renew your lease or make an offer to extend it if no renewal provision was included in the original lease. Quite curious. I think you should double check the effective date of the lease and the term and if it has indeed expired, call someone with Pride.

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