I read your comment dated Oct 21, 2008 concerning land owners getting their deal and freeing up section 24 in Keithville. I had the misfortune of leasing long before all the info came out about the Haynesville Shale. I am in section 24 and we are not unitized and there are no wells in our section. Have you heard anything else about section 24. There are wells all around us.
That's a tough one as it depends on the size of the bonus money they are offering. It it is small (less than $5000/acre) than that generally means they see the area as being less prospective and carrying more risk. So if you get force pooled, you may end up with nothing if the well isn't very good. If they are offering you a big bonus, then they like the area and expect big wells. Many have pointed to a general distrust of the O&G companies and their accounting methods. Since I work in the biz, I don't share that blanket distrust. If the company is reputable (I include Shell, CHK, PK, XTO, maybe others) then I'm not that worried. But realize, you delay getting paid and you take on the risk that the well doesn't work out and your get nothing.
If it were me, I'd probably go unleased but that's because I don't "need" the bonus money...I don't have any financial need for money right now. But there's a lot of risk to this approach. I would tell you it will mean staying on top of the O&G company's payment statements, finding out more about the law/regulations as to what they must supply you, and probably having a good attorney just in case.
I have seen all the activity the past few days with people marking the utilities and access points. Haven't seen anything on the permit site to indicate who is drilling in our section. Never have heard again from anyone in regards to not signing a lease. Would be nice to know who is drilling here. Thanks for all your work. Tom. 161425
I am interested in knowing how the meeting went? You were correct, I am in section 25, a few home, but mostly the golf course and surrounding area. Right now there are 10 hold outs from our area, but we have never been revisited by anyone other than the initial offers I spoke about before. I would like to know if you are forming a negotiating group or if you are signing with a company, Thanks for your help. Tom.
looking on Sonris shows most of the activity in tracts 15/14 almost all sections have some activity. It was so sad to see people sign with a door to door campaign of 500/home and 1/25th. I have land in Ok and know better, the land man was rude and said this was the best offer as this was all they had budgeted for this area, basically a take it or leave it offer, which I did, leave it that is. I heard the golf course went to the old owners in Dallas, sorry for Peter, don't know what they got per acre, but sure it was way more than 500. There are a few of us hold outs, don't think that is enough to hold up drilling, but I am willing to gamble of pooling for a full percent. Please keep me posted if you hear of real offers and know the township and sections. Thanks for your response. Tom.
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