Webster Parish
All things, people, companies, places & geology related to the Haynesville Shale play in Webster Parish.
What area in Webster was Furie Petroleum Interested In?
Were they actually prepared to pay 3500 bucks an acre for a lease agreement? I have heard little discussion of this.
A local attorney, James Davis, has been indicted by a federal grand jury on ten counts.
As reported in previous editions of The Inquisitor, Davis is accused of stealing a million dollars from an oil company, which had hired him to acquire mineral leases.
According to the indictment obtained by The Inquisitor, Furie Petroleum Company, LLC, out of Texas, deposited $1 million in the trust account of Jones, Odom, Davis & Politz, LLP, a law firm that Davis was a partner in. The funds were supposed to be used to acquire mineral leases in
Webster Parish and Bienville Parish for $3,500 per acre; however, Davis allegedly devised a scheme in which he provided a false sense of security to Furie Petroleum and then began disbursing money into bank accounts under Davis’s control.
According to the indictment filed Thursday, the government is seeking forfeiture of all of Davis’s property, including real estate and personal property involved or traceable to the property involved in the offense. The indictment also makes it clear that the government is going after any other property that Davis may own that could be substituted for property involved in the offense.
Skip Peel - Mineral Consultant
Mr. Davis is no longer a member of the firm. I was aware of the bare facts of the charge of misappropriation however until this article I had not heard the $3500 per acre offer amount. I suspect there is little or no discussion on the topic because other than The Inquisitor no local media has covered it. I can't imagine any company offering $3500/acre for a mineral lease in Webster Parish during the period in question.
Mar 9, 2014
Francis Mayo
Skip:
It turns out I know someone who was involved in the operation at the time. It was on the south end of Bistineau and was highly controversial with people in the company. Many advised against this move. It happened in 2009. I understand that the money eventually ended up funding a movie project. I think I have heard it all. Sounds like a scam from the beginning and in this case the O&G folks were victimized.
Mar 10, 2014
Francis Mayo
Mar 11, 2014