wpt. Does your lease have a "shut-in clause"? Eight years is a long time to have a well shut-in. You may want to reread your lease, confirm the last production date and ask some basic legal questions on the main page.
I was told that my great grandfather Roderick Goodwin dug that lake. When I was a young kid my grandmother would stop at the Teague store on 79 to talk, I believe she said that they were related, cousins I believe. Lillie Mae Goodwin Married Joe Odom. Her sister owned the Perry place just North of the lake off 79. My mother was Josephine Odom.
I live right before you get to 169. They offered us at first 1,000 an acre. Came back two weeks later with 3,000 and 25% at first it was only 20%. Told them we will call them. Looked the company on the papers up on the Secretary of state web site they are not in good standing. Didn't file a end of year report or something like that. The landman are I think thats what he was said thats the going rate now. I've walked around and talked to alot of people and they have all signed leases for a lot less than that. I just as soon lose 9 thousand then see somebody next door to me get 12 thousand a acre. A lot of people around me signed for a couple of a hundred dollars. All the meetings and I've been to alot of them say just wait. Everybody jumping ship and signing low nobody will make money. I think everybody in this area around Hops corner and Four Forks need to have a meeting and form a group if they dont already I haven't heard of one. Just to keep everybody informed on whats going on.
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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