Replies to This Discussion

Permalink Reply by ALongview on October 9, 2008 at 10:12

I can't tell you how glad I am to hear this. We signed Sept. 17th but have not been paid on outstanding draft. Thanks for the info.

Permalink Reply by jffree1 on October 10, 2008 at 15:21

I would be calling them often.

Permalink Reply by Janna on October 6, 2008 at 7:17

Hi! Everybody! or a human being of the east texas religion,

Can anyone tell me why, a neighobor might offer my mother
$2000 an acre for her land, without any mineral rights included???????????????????

Permalink Reply by jffree1 on October 6, 2008 at 10:26

Depends on where it is and what it looks like. Is it pasture, timber, brushy, cutover???? Maybe he just wants some more land. That's not an unusual offer lately.

Permalink Reply by Rebel Roy on October 9, 2008 at 18:23

FYI, from toledochronicle.com
Mineral Leasing Slowed by Some Companies

The rush to lease minerals in the Haynesville Shale gas field has experienced a minor slowdown as some energy companies have scaled back.
It has been reported by several sources familiar with the leasing activities that Devon Energy and Chesapeake Energy, both Oklahoma City corporations, are slowing or suspending their leasing activities.
Alesha Lemaster with Devon Energy said the company is currently slowing down their leasing work, but has not stopped.
“We are continuing to work on selective leasing opportunities,” said Lemaster.
The slowdown is related to their budgeting process, which has recently begun and should be completed by year’s end. An evaluation of their leases is part of the budgeting process. It is normal for a slowdown in the leasing operations to occur in our company this time of year, said Lemaster.
She also said that unlike many companies currently having problems finding credit in the volatile market, Devon works from their cash flow and does not rely on credit to complete their leases or drilling operations.
Repeated phone calls to Chesapeake Energy were not returned

Permalink Reply by jffree1 on October 10, 2008 at 15:23

Thank you RR

Permalink Reply by jffree1 on October 10, 2008 at 16:03

Well, I got an offer out of the mailbox today. I have to say that I was amused and just a little bit insulted. It was from CINCO ENERGY, leasing for Sampson Lonstar, LLP. They offered $250.00 an acre and 1/5 royalty for a 3 yr. lease with a 2 yr. option and really bad (for me) lease terms. I called and left a vm and said they could call me if they decide to get serious about an offer. Oh, and they included (with the cover letter and two copies of the agreement) a 30 day sight draft for $6400.00 on 50+ acres and instructions for how to get it funded. I feel like they are assuming that I am either needy, greedy or just plain stupid. Devon has signed some of my neighbors in the same survey for 5K and 1/4 so I guess I'll just have to wait....

If anyone wants to see an example of a really bad lease agreement go to MY PLACE and leave me an e-mail address.

jffree1

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