Carl, I would like to invite ou to participate in the new site Cass County. We are interested in what is going on in Northeast Texas as well as Northwest La. By having input from both sides of the border our intent is to be better informed to help make better decisions concerning the Haynesville and other Oil and Gas Play in the area. Thanks.
At 12:19pm on September 15, 2008, Teddford T said…
Maverick Land Services informed me that XTO (Winchester) has stopped all leasing efforts in it's tracks. I am to receive a certified letter with details. I'll let you know if there is any important in there.
Byron, not too much to report, but will highlight what may be of interest and what I know.
1) Leasing activity is still going strong along Marion County/Harrison County near Karnack. That is what is left to lease.Looks like lease interest is trending Northwest.
2) Further West from Jefferson south to Harrison County this area is getting a lot of attention from Devon and Penn Virginia and now EOG
3) Had a OGC trying to lease on the cheap property north of Sarber. If sounded more like a broker.
4) Interest in my Smithland Field property has dropped off. Two reasons in my opinon, too much acreage in the area is held by production, and the instructions from the OGC to go elsewhere in Marion County
5) No new drilling permits issued lately in Marion County.
6) I have had some good conversations with a couple of good land men, and they tell me (at least these guys) that they are told to avoid small HBP stripper well property for now.
7) Finally lease bonus amounts in some acreage is going at $1,500 acre with 25%. Still inexpensive by Louisiana and Harrison county accounts.
Thanks, Carl. Keep me informed as to what is happening. I'd appreciate it. Like I said before, patience is probably called for. I think as this thing expands, our property will get more valuable to the o/g people. We are so close to the Caddo Parish areas that have a lot of rigs and, from the record of leases (go to this site to see leases people have submitted to share info: http://sonlite.dnr.state.la.us/sundown/cart_prod/cart_min_leas_tract1.....just submit query as blank and it will bring the info up), Caddo seems to be getting $25,000-30,000/acre. Rather unbelievable. As this plays out and they define the Haynesville Shale area (may take a while), I believe, we, who now on the fringe, will see the benefits of waiting.
Your lease is very close to what they are looking for with mine geographically. The landman has representated to me that Winchester, across the Texas line, will not pay more than $150.00/acre and a 1/5th royalty. Just across the state line, my cousin has a lease agreement with Winchester for a 1/4 royalty in the H-Shale.
We are holding out for a larger lease bonus and the 1/4 royalty. Would you mind sharing with me what Winchester settled with you. If you would prefer, you can e-mail me back with the answer at email@example.com if you are more comfortable with that.
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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