Replies to This Discussion

Permalink Reply by Lorissa Gail on May 27, 2010 at 2:41

Devon seems to be a company that is very decisive in it's actions. They determine a course of action and go about business (i.e. drilling and production!). [Some of the companies that have drilled around 1645 seem to only want to HBP! ] Devon must like the Adams well! This seems to be a good sign for your minerals!
Congratulations!

Permalink Reply by intrepid on May 28, 2010 at 17:03

Have you ever countered them with anything? They are probably expecting YOU to let them know what you want.

Permalink Reply by George Wright on May 31, 2010 at 0:57

I've asked for 2K per acre from the beginning.

Permalink Reply by Hotdoc on May 31, 2010 at 15:03

If you hold out, you should get more than that. You are right in line with wells that are doing really good according to RRC records. One in particular is huge. I think the hurry is to lease everyone in the area while the lease prices are cheap and before all of the drilling activity and the success thereof, is known to the general public thus causing a land grab and high lease prices.. Also, you are right in line with where they are actually drilling so it may be that leases in your unit are ready to run out so they want to lease you so they can go ahead and drill to hold the unit. Either way, it is good for you.

Permalink Reply by Hotdoc on May 30, 2010 at 19:38

I would hold out, the prices are coming up too much too fast and the "need for speed" really puts you in the driver's seat.

Permalink Reply by George Wright on June 3, 2010 at 12:33

My Oil and Gas Lawyer has made revisions to the "form" lease, and it looks like we are going forward.
G.

Permalink Reply by Chuck Thomas on June 4, 2010 at 14:54

A interesting article in the Shreveport Times Friday June 4. This is about a Lease bonus Petrohawk ordered to pay by the court. *****Notice clause (MFNC). The Stephensons in April 2008 entered six separate oil and gas leases totaling 160 acres to Petrohawki at $4,250 an acre, for a total of $680,000. Each lease included the MFNC in which Petrohaw agreed to pay the Stephensons the difference in any signing bonuses paid to a third party lease for property within the same geographic boundary and within two miles of the Stephensons' property. The Stephensons did receive an extra signing bonus of @2,250 an acre, bringing the total lease bonus to $6,500 an acre or over $1 milion, When Petrohawk subsequently acquired another lease in the same geographic area. But in July 2008 Petrohawk entered a lease with the Friersons-George Archer Frierson II, John Bolinger Frierson, Clarence Nicholson Frierson Jr. -for various noncontiguous tracts totaling over 4,000 acres in Caddo, Bossier, and DeSoto parishes. Petrohawk paid the Friersons $18,000 per acre.

The lease included a 7.36 acre tract in DeSoto Parish which falls within the geographic area described int the MFNC of the Stephensons lease.

I thought this was interesting about this clause (MFNC) they had in their lease
C Thomas

Permalink Reply by little ole 1st grade teacher on June 4, 2010 at 16:49

oh, my gosh, this is confusing.

Permalink Reply by High Pockets on July 28, 2010 at 22:08

(this is confusing)
amen sister. I am just getting started. I was contacted by a Landman, wanting to lease my 25ac. Offering $350 per ac. & 1/5. Property is just east of Tenaha and south of Paxton. I don't even know if there is anything going on in the area. I live on the Gulf Coast and only go to ET 1 or 2 times a yr. Advice or info would be great.
thanks...

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