Replies to This Discussion

Permalink Reply by JB13 on May 13, 2010 at 5:23

Thanks, Judy! The guy I talked to did seem a bit pushy. It's good to have the competition though.

Permalink Reply by Hollis Paul Lawrence on May 18, 2010 at 6:29

We signed with JC Petroleum recently, representing Munoco, and were very pleased with their professionalism and quick turn-around

Permalink Reply by RAZORBACK on May 18, 2010 at 7:49

JC Petroleum Inc is a private company categorized under Oil and Gas Exploration and Development and located in Monroe, LA. Current estimates show this company has an annual revenue of less than $500,000 and employs a staff of approximately 1 to 4.

Permalink Reply by judy hastedt on May 18, 2010 at 7:59

that's good. let's hope we all do well. judy

Permalink Reply by Tree Farmer on June 11, 2010 at 9:39

I am an absentee land owner of property in Union Parish. I was approached by Pinebelt in February with the offer of 175 3/16th and five years. I declined. Today I have received another telephone call today offering 1/5 with 225 if we expedite. I am getting the landsmen to send me a lease agreement but I have heard that their agreements are poorly designed and do not protect the landowner from removal of other minerals (rock as an example). Has anyone who has signed with Pinebelt had the lease agreement reviewed? Also, the Union Parish Clerk of Court Doti Eubanks told me that their office has had a large increase in landsmen checking on deeds within the last few months.

Permalink Reply by Pat Patrick on June 11, 2010 at 11:28

Ronald, see JT green's post on May 1/10- good advice!
Their lease will probably be a standard mineral rights / surface rights lease with no mention of depth they can go. 5 years- not with the way things are changing in the world!
I turned down the same offer weeks ago.-Taxes would just eat up any thing we got just like it did with the timber we had thined last year. Since I am not desperate yet I'll hold off awhile.

Permalink Reply by Tree Farmer on June 11, 2010 at 18:02

I have not seen a copy of the lease but I have asked to see a copy. I am well aware that their offer is likely for five years which would not be acceptable. I do like to negotiate and you can not do that if you don't have the chance to review their document. I have a very knowledgable oil and gas man as a friend so I will be in a position to have the lease reviewed and if I choose to counter then I will certainly request changes in the lease that will protect me from open ended clauses that are common in this industry.

Permalink Reply by judy hastedt on June 11, 2010 at 17:05

was it pinebelt that came back with the 1/5 and $225? that's the most i've heard of them offering. judy

Permalink Reply by Tree Farmer on June 11, 2010 at 18:04

I believe it is Pinebelt. he contacted me back in February with an offer of 175 3/16th and five years which I immediately turned down. I told him that I was only willing to discuss the terms if they were offering 1/5 and a three year lease. We'll see what the lease looks like.

Permalink Reply by Tree Farmer on June 12, 2010 at 3:46

do you have blank lease document that you might share?

Permalink Reply by Tree Farmer on June 12, 2010 at 7:25

Your suggestion has been very helpful Thank you for your reply.

Permalink Reply by judy hastedt on June 12, 2010 at 7:53

Hi, When you say Arkansas board, what do you mean? I'd like to go there. All I see is Arkansas Shale

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