Should I be worried or on my knees thankful????

To our great surprise our 3 year lease and 2 year option (Sec. 34) has come to an end. Should we be worried? Ironically, the land surrounding us has pipes, and, yes, we were first leased when the Haynesville Shale had not yet been "discovered" so were crying in our soup when all the nice lease bonuses were handed out merely months after we signed over $100 per acre.  On that note, if we were to lease again, what are current lease rates?  Thanks for any info! 

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Replies to This Discussion


Oil & Gas ProPermalink Reply by Skip Peel - Mineral Consultant on January 5, 2011 at 6:03

Good Luck,CBT.  Perhaps when your mail box money begins to arrive you will consider making a donation to GoHaynesvilleShale.

 

http://www.gohaynesvilleshale.com/opensocial/ningapps/show?appUrl=h...

Permalink Reply by Linda Whatley on January 5, 2011 at 18:01
Yes, good luck to you and your family, CBT. 
Permalink Reply by CBT on January 5, 2011 at 9:01
Henry-I would say more like 3 hours!!  Once you revealed Well #241852, everything snowballed to a closure within a couple of hours.  Amazing...Thanks for all your help!  Y'all have definitely saved us from costly lawyer research fees given we all live out of state! 

landownerPermalink Reply by Henry on January 6, 2011 at 0:32

CBT --

Good luck to you and your family.  Let's all hope your well is a gusher.  Post back in 6 months and let us know.

 

(And I agree with Skip -- a meaningful contribution to GHS.com would be far less than what you would pay for 1 hour with an attorney.)

Permalink Reply by Pelican on January 31, 2011 at 5:55
Benton Johnson came on line in the afternoon of 1/30.
Permalink Reply by John Patman on January 30, 2011 at 16:01
According to some of the lawyers and few land man the range is from 1K on the low side to the high is 8K in the high.  Mostly in the 2.5 to 3.5 k range. Many of the higher $ contracts state that you should not disclose the amount. It all depends on where and the how many ac. If gas prices go up again you can see higher leases. We now have a good supply now. We just need a infrustructure for gas and a demand for gas.

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