Replies to This Discussion

Permalink Reply by ogmladvisor on April 10, 2010 at 19:09

Nat Gas is around 4 bucks/MCF...I wouldn't be suprised if a few folks are moving out...or at least slowing down the leasing effort.

Permalink Reply by JUSTREE on April 11, 2010 at 16:33

I THOUGHT THE SAME THING, GOOD LUCK TO THE OTHERS THAT GOT A LEASE SIGNED.

Permalink Reply by j garrett on April 11, 2010 at 4:18

These are the kind of rumors we like Justree. What company left you hanging, and where are your minerals located?

Permalink Reply by JUSTREE on April 11, 2010 at 16:30

THIS is Not a rumor it is a fact. The company was Devon Energy, my property LOCATION I'd rather not disclose

Permalink Reply by j garrett on April 11, 2010 at 17:00

Why?

Permalink Reply by JUSTREE on April 11, 2010 at 17:18

would it help me to reveal my property location, just would rather not.

Permalink Reply by j garrett on April 12, 2010 at 9:55

K. It's just helpful to the members of this site. Devon (or any operator) pulling out of , say, the north, is different then pulling out of the south, or east, or west.

Permalink Reply by JUSTREE on April 12, 2010 at 17:12

How is it different if an operator is pulling out of the north versus the other three directions? The price of gas might be more of a deciding factor then geography.

Permalink Reply by j garrett on April 13, 2010 at 1:44

Not true. Location location location. When Crimson had an office off the square in San Augustine in 2008, right inside the front door for all to see was a county map with a red line drawn across it East to West. Above the line, the were offering $5000 per acre to anyone that walked in the door. Below the line, $0.

However, in the current market, I'm told a lot of companies are reigning in leasing for the remainder of 2010 and focusing on developing acreage already acquired so they don't lose it.

Permalink Reply by king john on April 13, 2010 at 2:01

devon was in competition for some acres in a certain part of the county. i was told they were out bid by xto. this could explain their sudden lack of interest
kj.

Permalink Reply by JUSTREE on April 17, 2010 at 15:51

thank you that does explain the sudden lack of interest. Any idea what they were offering per acre?

Permalink Reply by JUSTREE on April 17, 2010 at 15:55

well that explains a lot I must have forgotten the golden rule of real estate LOCATION, LOCATION , LOCATION. Thanks for the information, we are lucky to have A GO TO GUY on this site. I will keep you all posted if my fortunes change. THANKS AGAIN!

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