Great to talk to you. New to this site and it is cool. Finished a job last week and looking. Any ideas?
Call me, be great to talk to you. I want to tell you about another site.
It's "Four In The Mornin" (with apologies to Faron Young who sang the song) and I have nothing better to do, so I'll throw another "Uncle Earl" truism at ya': ". . . there's more than one way to kill a cat than stufffin' him full of buttermilk! . . ." (whatever that means)
Have you ever read A.J. Liebling's book "Socks on a Rooster"? Funny as all get-out. Or, better yet, get a copy of the old LP "Red-Hot Papa", I believe is the name. It's a classic around B.R.
It looks like there may not be any need to worry about the community property issue. I just found out yesterday Petrohawk has already lost IP's acreage in the section (440 acres). They didn'y pay the delay rentals and IP has already leased to Chesapeake. So it's likely Chesapeake will make a play for the rest of the section once the leases start expiring this fall. Hopefully the NG price will not tank before then!
Hi Jay, I didn't know the issue was going to be quite as big a can of worms as it is. It looks like the sticking point is whether the property is actyally communitized, I would think it was since both out names are on the mortgage. But like I said it may well we a moot point, I hope it is. I still believe if Petrohawk wants to keep the lease they will drill it before it expires, if that happens I won't say anything.
Here's how it went: I originally bought a 50 acre tract in 1994. I got married in 2003, in 2004 we decided to build a house so we surveyed off 10 acres of the 50 and used the equity for a down payment and refinanced the balance on the remaining 40 acres, it then went into both our names. The mineral lease was signed in 2006. The only recorded deed is the original one from 1994. If they drill a well or drop the lease I don't plan to say anything. I was only thinking of bringing the issue up if they choose to renew the lease.
As exciting as this is, we know that we have a responsibility to do this thing correctly. After all, we want the farm to remain a place where the family can gather for another 80 years and beyond. This site was born out of these desires. Before we started this site, googling "shale' brought up little information. Certainly nothing that was useful as we negotiated a lease. Read More