Nice bike btw.
thats good news on cpk i think. The more buyers the higher the lease prices. Heres my concern with cpk though. They now have a record of buying with the intention of hbp and selling the proven reserves. Problem is that they dont have to bring it to the surface to sell it that way. And as we all know if it doesnt come to the surface we dont get paid royalty on it. The bonus and what little they use to hbp is all some will get for many years to come. I'm still thinking on what is the best option.
Hey! YOu got me to join Shelby county so now I wanted to point out a new group to you as well. (in case you didn't see me post it under your east texas drilling report post). This was started by Les B. it's called drilling rig locations. So join up! Hope you're doing good. So glad you didn't sign recently. (I know you need to but good for you for holding out).
Group formed to track rig locations in HS play. Provides useful information on number of rigs working for each company & in each parish. Posting should include rig name, HS well name & as much location data as possible (parish, S-T-R, closest road)
Which company is making this offer? You just have to keep saying no till the offers get better. you should know by now you are definately in a hot area. Devon and an Cpk , 2 big boys are leasing in your area along with a ton of others. Pugh whether vertical or horizontal does limit things in the lease. However, they are throwing you a bone. Its like saying if you buy this corvette I'll throw in a corvette hat too. There is way more money being left on the table in the lease details. you need a professional to draw up your 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