Replies to This Discussion

Permalink Reply by Jon Williamson on February 14, 2010 at 14:29

Who knows Summer. My guess is that we are two years away from good lease offers. Hold tight!

Permalink Reply by JWC on May 18, 2010 at 6:07

I have heard of some leasing going on around the Milam area. Anyone else heard this? $1500/acre. Don't know the survey names.

Permalink Reply by ALongview on May 18, 2010 at 7:12

Leases are still being recorded in Sabine County albeit at a slow pace. $ terms unknown however. A lot of acreage was leased in 2008 with no wells to show for it to date. I would suspect that until someone gives us a well with good results it will be sporadic as far as leasing activity. There was a bunch of leases recorded in the last two months in San Augustine County by Encana and Cabot and Devon some of which were pushing up against the county line with Sabine. On a side note, on the site haynesvillplay he has it that one of the Range wells is drilling in Sabine County right now? It is not on Baker Hughes. Has anyone seen any further activity on those two permits that Range made?

Permalink Reply by Tom Fenelon on May 18, 2010 at 7:27

I leased @ 100 acres in Sabine County to Devon back in 2009 and have heard a rumor that they have put in a pad. That land was about 2.5 miles north of the McMahon Chapel road. I am not very educated about the oil business and have been out of the area for @ 30 years. Again I don't know for sure if this is the case and even if it is fact I don't know if it really means anything. I'll kind of get excited if and when the bank calls.

Permalink Reply by Charles Vickers on August 15, 2010 at 8:55

Do you have a contact person at Devon; my family has mineral interest that are currently not leased.

Charles Vickers

Permalink Reply by jffree1 on May 18, 2010 at 8:16

I saw the map... can't find anything on Baker Hughes or my subscription source. I guess it's time for someone to do a drive by.

Permalink Reply by Les Bamburg on May 18, 2010 at 8:25

Jffree1, too bad Google Earth is not updated daily. Wouldn't that be fun!

Permalink Reply by jffree1 on May 18, 2010 at 8:49

Don't you know it, LOL! Some of the East Texas shots are really old (like 2002 old).

Permalink Reply by Anita Sumner on June 19, 2010 at 15:30

I have a oil lease off six mile had since 2008 my sister came down there this week and said they were putting alot of pipes in the ground does any one know?

Permalink Reply by jffree1 on June 19, 2010 at 17:48

Are you in Eli Low survey? Lacy has drilled one well (last fall) and just started the second over near Fin & Feather. The talk was that they were refurbishing and adding to the old gathering lines around Six Mile.

Permalink Reply by Frank Coday on August 15, 2010 at 3:31

Have a friend in Northern Sabine Co. that leased 26 ac. in late 2008 for 3 yrs. @ $5,000. Had a recent offer from the company to top lease @ $5,000 for another 3 yrs. with 15% cash now and the balance due in 13 months if they exercise option. Your thoughts pls.

Permalink Reply by jffree1 on August 15, 2010 at 3:37

The balance should be due at the expiration of the old lease... is that 13 months? That is a good offer for today with no well results to judge by.

It is common practice to pay a % up front on a top lease and pay the balance if and when it goes into effect. If a well is drilled or started before the old lease expires the acreage is HBP and the top lease would have no effect... so no more bonus money but the lessor gets to keep the 15% paid. Regardless of whether it is the same company who has the original lease or someone different, now is the time to negotiate any lease terms that were not to the lessors benefit in the first lease.

That is an interesting offer, Frank, but it would be helpful to all if we knew the survey and who was making the offer.

• ‹ Previous
• 1
• 2
• 3
• Next ›
• Page