All things related to the Haynesville Shale in San Augustine county.
Website: http://www.gohaynesvilleshale.com
Location: San Augustine
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How do you not extend agreements if all you have to do is accept a registered letter? How are you supposed to know what is in the letter?
Question -
Our family's 3 year lease with Eagle Oil is about done in a few days but a check came in the mail to extend the lease. The clause is below. Does the clause mean that if the check is cashed, the lease is extended or if we don't cash it, they are released? Someone shed some light.
Thanks
"On or before the expiration of the primary term of this Lease, Lessee may pay to Lessor the cash sum of $XXX.00 per net mineral acre covered by this Lease whereupon the primary term shall be extended for an additional 2 (two) years. The payment of such cash sum by Lessee shall obviate the need for payment of an additional delay rental. The right of Lessee to extend this Lease as provided herein is at the option, but not the obligation, of Lessee."
How long does it take to pay for a well before the royalty to lease holder go out , just wondering.
SM Energy has reported two wells this week:
Hudson #1H came in at 12.859 MMcfd on a 20/64 choke with a 8969# flowing pressure.
Cortes #1H reported 10.815 MMcfd on a 20/64 choke with a 8667# flowing pressure.
These wells are East of the airport with surface locations in E. Quirk, A-35 just north of Hwy 21W. We should hear about your well soon AL.
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AboutAs exciting as this is, we know that we have a responsibility to do this thing correctly. After all, we want the farm to remain a place where the family can gather for another 80 years and beyond. This site was born out of these desires. Before we started this site, googling "shale' brought up little information. Certainly nothing that was useful as we negotiated a lease. Read More |
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