"I received my 1099 from 31 Operating. They had emailed me check detail 4 times in 2019, but never sent a check. They sent a detail with the 1099 wherein it appears they are claiming production taxes and expenses were greater than royalties. I smell…"
Thanks for your interest. My parents leased their land in September, 2007 for a total of $38,000 for 190 acres! We were really disappointed when the going rates shot up to $15,000-$20,000, but at the time of the lease $200 an acre was the going rate. Many of my folks' friends did the same thing. I doubt we'll sell our interest but it would be interesting to know what the going rate for such a proposal is. You must really be a night owl...I'm writing to you from Belgium where it's 7:30ish in the morning!
Yes, the land I've been referring to is leased to Cheasapeake and is my parent's land in northwest Louisiana. They are getting ready to run a pipeline on my folks' property and have just completed seismic testing so I'm guessing they are looking to drill a well before their land comes up for renewal in 2010. I'm just trying to learn about the business and how it works so I can follow things and advise my parents. I see that you are in Dallas and must have experience with the Barnett. Are you in the business? Thanks for all of your help Jon. I really appreciate it.
Hello! I hope the site is a place for to learn, network and contribute. My name is Keith and I started the site in June of 2008 to open up lines of communication between landowners. We now have over 10,000 members.
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