Laurie, would you mind letting me know who the 2 companies who offered to buy or lease were? Our minerals are still unleased as well. We have received one letter from a outfit called Family Tree. Just filed it away for now. Have you heard anything about the Lane #2? Wonder if they found something and shut it in until the pipeline goes through?
Laurie, I agree we do need that well to do good. Who is OPG? What does initial stand for? When you said someone offered $150 was that Pinkston? Send me your # for OPG and I will hold onto it for reference. Keep me posted on any news you hear and I will do the same. thanks. Linda
Laurie, We were actually leased to a company named Pinkston Energy who was in a working agreement with Petrohawk. Pinkston is the one calling wanting to release for $150 an acre. Told him we weren't interested right now. I tried to contact the Petrohawk landman who was in charge of the working agreement a year and half ago but he referred me to another landman who has not contacted me as yet. I'll keep you posted.
Laurie, Are your minerals still unleased? Has Petrohawk contacted you lately? Or lease expired in Dec 09 with Pinkston who was in a working agreement with Petrohawk. The landman for Pinkston is calling again wanting to release. Not sure we want to. I think our minerals are near each other. Just wondering.
I think the 'slowdown' is due to the low price of NG right now. Since your lease expires it would seem they would want to drill so you would be held by production. Do you really want your gas sold at $3-$4 when it will be $6-7or $8 later? I'll let you know about anything I hear.
Hi Laurie -- Haven't heard much more lately. I spoke to my lawyer last week -- and she said that Samson was clearing up some titles on property before they do anything -- not sure what that really means though. A few weeks ago Petrohawk was putting up stakes all over -- but now have stopped.
The only pipeline I have heard of here was Samson buying up 8 miles of easements for a pipeline towards Timpson to flow the Larcie #1 to.
I did tell my lawyer to try to get Samson to lease the minerals on my
road with stipulations on it that would not allow them to use my road for anything, haven't heard anything back yet. That would stop them from using my road and any company that might happen to buy out Samson's interest would be bound by the lease.
Just dropping by to say hello. Have one "shale" of a day. Also, there some new profile questions. Check those out by clicking HERE. We are also coming up on our 10,000th member. Be sure to celebrate with me. Click HERE for more about that.
Remember, you are the seller and they are the buyer. They have to decide where the best place available to drill is and where they can put together enough acreage to make a unit. How they can get pipeline to the wells and on and on. The guy you talk to on the phone (landman) has no idea of any of this. All he usually knows is a circle drawn on his map and find all the rightful mineral owners in the circle or as many as he can. Sometimes this takes years and sometimes hours. Either way all you need to do is be very polite and helpful, ask any questions you may have, and when you get an offer make sure the terms and language of the lease is the best you think you can get. Hope for a reputable company. The more acreage you have the better off you are. If you have enough for a unit yourself then you are in good shape and can make a better deal. If you are unsure get professional help. I would never sign a lease without taking it to an o&g lawyer. if you do it will cost you dearly. one word , one phrase will cost you thousands of dollars for years to come.
they are probably going to start on a well or at least scratch the dirt around to try to hold the lease depending on how your lease is written ie options etc. . Or they may intend to top lease (lease it again) before the other lease expires so nobody else can. Either way it is good for you. I would be ready with a revised lease incase they try. Be careful, if they send you a check or draft then they can tie you up without actually doing another lease. Look for better % royalty 25% or more and as much bonus as you think you can get.
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