Hi Everyone,

 

I'm new to this site and new to the process of selling mineral leases.  I am hoping to get information and guidance from my new friends on this forum.  My family's land is near Linville which is in Union Parish between Marion and Haile.  I have been contacted by a representative of Pine Belt who wants to lease our acreage and that of my uncle.  Does anyone know if any deep wells have actually been drilled in Union Parish?  Were they successful?

 

Thanks for your help,

Kathy

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Replies to This Discussion

Kathy,

 

DO NOT SELL YOUR MINERALS! LEASE THEM! Sorry for the all caps but it's very important that you know the difference between selling and leasing. I have land close to Lillie, LA and the best offer to lease so far has been $300/acre 20% 4/4. There have been 3-4 wells drilled around Marion over the last few years checking out the brown dense. None of the data have been released so we can only speculate on what they found. From the amount of leasing they are doing I would say they like what they see. Good luck and keep us informed.

North LA, please post the well name, operator and s-t-r or the Serial Numbers for the 3-4 wells you mention so that those of us tracking the Brown Dense can update our data.  Thanks.
Thanks North LA, I have had a similar offer of $300/acre 20% with a 4/3.  That seems clear enough but they want to stipulate that they will offer $300 for the 3 year extension.  Should that be stated now or somehow tied to the going rate at the time the extension is leased?  I still don't understand pooling, communicating zones, unitized lands, post production costs, "arm length transactions" etc. I think I need an oil and gas dictionary to understand the wording. Is pooling a good thing? It seems that it would be better to lease land that is in different sections in different leases.  Or is it better to just lump all acreage into one big lease for some reason? Apparently, they have the right to build roads, bridges, tanks, power stations, cellular facilities, and even employee houses within the lease.  Honestly, I think I need to scratch most of this.  I'm trying to grow timber.  I need to protect the water quality for the people who live in the area and the land so trees will still grow. Isn't salt water a by product of oil and gas wells? Are pipelines buried deep enough to plant over? How can you be sure the ground water will not be contaminated? I doubt that anyone will have the time to answer all my questions. Am I even worrying about the right things?
I totally agree with North LA's advice.  I have family land in Union Parish as well.  Hang tight.
i have heard rumors of fairly deep wells, but no proof or wheather they were successful or not.
There have been two wells drilled so far that appear to have tested the Lower Smackover/Brown Dense and both were not economic.
is this public info or just  an opinion.  where does your info come from.
robert, the information comes from the Arkansas Oil & Gas Commission. And has been posted and discussed by multiple members in several discussion threads on this site.  If you will look back through the archives, you can review all of those discussions.
i am new here.  thank you for the info.

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