Contacted to negotiate Mineral Lease
I received a letter today from Clayton Petroleum LTD., retained by Cheasapeake Louisiana, to discuss purchasing of mineral rights for my property (1.94 acres) in Section 9, T16N-R15W. Approximately 80% of section had been secured last year; they supposedly missed the top left corner of the section (approximately 140+ acres). A pad had been prepared last year in our section, scheduled to begin drilling this past January but were delayed due to negotiations for pipeline right-of-way through the section by major land owner. That has been completed within the past several weeks. Seismic crews have been in the neighborhood over the past 3 weeks, blasting and measuring. My question is at what price would be appropriate to begin negotiations and what would be the bottom line?
Views: 43
Add a Comment
-
Comment by Tommy Johnson on May 8, 2009 at 13:37
-
Thank you Jim for the correction and advice.
As I said, I live in Section 9; Wed. or Thur. our neighborhood received letters notifying us of the Pre-Application Notice for sections 10, 3 and 4 (all touch our section). Sections 17 and 8 have already gone through this phase (again, these 2 sections touch our section. Only sections 16 and 15 have yet to be advertised as such. We are basically surrounded.
-
Comment by Tommy Johnson on May 8, 2009 at 7:03
-
I should have posted this remark the next day. A lady from Clayton Petroleum called me back the next day and offered $1500.00 and 20% royalty. I told her no. That was the end of the conversation. She did not ask for a counter offer or anything.
-
Comment by Rockyford on May 7, 2009 at 11:31
-
Chesapeak is trying to get us to lease for $1250.00 per acre we said 1500. he declined.
Support GoHaynesvilleShale.com
Top Content
Blog Posts
The Lithium Connection to Shale Drilling
Shale drilling and lithium extraction are seemingly distinct activities, but there is a growing connection between the two as the world moves towards cleaner energy solutions. While shale drilling primarily targets…
ContinuePosted by Keith Mauck (Site Publisher) on November 20, 2024 at 12:40
Not a member? Get our email.
Groups
-
Franklin County, Texas
9 members
-
Cass County, TX
120 members
-
Rusk County
97 members
-
Livingston Parish, LA
34 members
-
San Augustine, TX
386 members
-
Miller County, Arkansas
27 members
-
Sabine Parish, LA
455 members
-
South Caddo Parish Group
440 members
-
Natchitoches Parish
400 members
-
Bienville Parish, LA
244 members
© 2024 Created by Keith Mauck (Site Publisher).
Powered by
You need to be a member of GoHaynesvilleShale.com to add comments!
Join GoHaynesvilleShale.com