Replies to This Discussion

Permalink Reply by Mary Alison Anders Knighton on June 12, 2010 at 5:44

Thank you JT,
You are so correct about the clauses and provisions and in what ya said. I spoke with some people yesterday and have a meeting today . The Union Parish area is just getting going. Patience.....is a virtue, hard but true.

Permalink Reply by Tree Farmer on June 12, 2010 at 7:29

According to the Clerk of Court (D. Eubanks) there has been alot of activity within the past several months from landsmen checking out land ownership but she told me very little in the way of oil and gas leases are being recorded. The only company that has approached me is Pinebelt. I have seen one other mentioned on this website. It would be useful to know why, if there is so much activity in the clerk's office, more companies are not contacting the landowner who has land that could be leased.

You also mentioned Union Parish is just getting going what kind of evidence are you seeing to confirm that. I find little activity on SONRIS in the way of wells being drilled. The only one of late was in Marion and it looks to be shut-in due to toxic gas.

Permalink Reply by Joseph J. Butler on June 12, 2010 at 9:50

Ronald, In 2008 they drilled a Smackover well in Sect 35-21n-3w SMK RA SUG, this well is located just south of Bernice. Which has not been produced because of H2S gas. They are going to drill a SMK RA SUI well in Sect 36-21n-3w it borders section 35. They must Know something or they would quit drilling.

Permalink Reply by judy hastedt on June 12, 2010 at 7:51

Thank you, Mary Alison,
Will you let us hear after you have your meeting?
Trying to be patient.....Judy

Permalink Reply by judy hastedt on June 12, 2010 at 7:48

is a conservation clause one that holds the oil co. liable to do everything environmentally correct, sorta???

Permalink Reply by judy hastedt on June 13, 2010 at 6:09

gotcha. we added provisions addressing this. thanx. i believe the harder bargainers may get a cashier's check. in ark. we get a regular check approx. 3 weeks after signing. in louisiana, it's a bank draft at present, although we're having to resign the lease and could ask for a check instead. the bank draft has already been deposited in my bank, waiting to clear.....so will probably have to stick with the bank draft. i had seen advice on this site to ask for a check, but got nowhere trying to do so in louisiana. guess i'm not a very hard bargainer. oh, and could you tell me exactly how to get to that manual you mentioned? judy

Permalink Reply by judy hastedt on June 12, 2010 at 10:49

bank drafts

Permalink Reply by Two Dogs, Pirate on June 13, 2010 at 11:14

They issue bank drafts for several reasons. In most cases it is to run out the land title. Some look at it as why spend the money on land title if you can't buy a lease. Depending on the situation, it could cost more to run title than it does to buy the lease.

Permalink Reply by judy hastedt on June 14, 2010 at 4:55

yeah, pinebelt's already got the title stuff cleared up. we had signed and then ran across one snafu which has been resolved. so when we sign the corrected lease we should insist on a certified check. what we can get may be another matter. hey, in arkansas we were able to get a clause in the lease excepting anything that would be haynesville shale, with another provision that if they hit it we get extra $$$$ perr acre. probably silly, BUT, would you think pinebelt would put that language in our louisiana lease, and do YOU think it needs to be in? i also have a call in to eric camp, atty., for a chat and referral to shreveport atty. thanks

Permalink Reply by Tree Farmer on June 15, 2010 at 9:21

If you signed through Pinebelt, did you add a depth clause. an environmental safety clause, and exclude surface minerals? The lease they sent me did not have any of those clauses included in the lease. They were leasing every conceivable mineral. I personally would opt to have lignite (if any were present) excluded from the lease as well as gravel or other surface minerals. Their lease allowed them to have lease down as far as the technology would allow. The best they would do was a 4/4 because of the size of the project (but there was not indication of how big big was).

Permalink Reply by RAY on June 30, 2010 at 14:29

Tree Farmer, I received Call from PB and was told I would receive lease for $225 and 1/5 royalty. Received lease and it is for $200 and 3/16th for 5 years with right to renew in 3 @ $175 and 3/16.

Wow! A little troubling that the lease was for values we did not discuss.

Since I live in another state wonder if someone out there can give me the name of a Louisiana O&G Atty who has negotiated a lease for you personally and is, therefore familiar with PB.

I am willing to go with our original agreement of $225 1/5 for 4/4 years.

Thanks, Ray

Permalink Reply by RAY on June 30, 2010 at 14:30

I can be reached at mstgvic@aol.com

thanks

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