Petrohawk
FYI...Got a call yesterday from a group who has a packet of land across a number of areas. They informed me that Petrohawk was meeting with them to discuss a package lease, but at this time they were not interested in Section 28, Township 18N, Range 10W....They were however interested in Township 17 of the same section.
Views: 52
Replies to This Discussion
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Permalink Reply by Aaron on
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Do you know the groups name? I think the best thing to do may be to group together with your neighbors and negotiate leaseing as a group. I think I would like to do that in Marion Co. , TX
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Permalink Reply by Rick Mtichell on
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This is a percentage pay group headed up by a couple of Shreveport Commercial Landmen and a lawyer. They are covering Caddo, Bossier, and Webster that I know of..
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Permalink Reply by Jim & Lyn on -
We would like to do the same. Have you joined the Marion County group on this site? If not, drop over now. Lyn
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Jim Bodenheimer ( Shreveport )
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Permalink Reply by Snake Stewart on
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Are they still asking for 4% signing bonus and 2% royalty ?
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Blue Light Special thread.
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Permalink Reply by sesport on
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But here it is from my perspective. I have .017 acres, standard bonus with Twin Cities is $5,500/acre. My math shows I'd get a whopping $93.50, and 4% of that is $3.74. If I'm in a group with about 200 other neighbors who have about the same acreage, plus our board throws in the common area, would we be better off paying a flat fee (usually no less than $50 per homeowner) or paying that percentage? Could we also get better lease terms to protect neighborhood rather than sign that standard TC lease. And I'd never sign for % of royalty anyway.
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Permalink Reply by sesport on
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That $50 fee is what one other small group "estimates" it will end up costing their members. (I have family in that group.) Haven't heard of any other fees. The group I signed NBLOI (and that's the ONLY way I'd join, might not like what comes out of it) has consistently stated there will be no fee.
Again, the fee vs. percent issue is situational. I've said it before, folks also need to do their homework on this.
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Permalink Reply by M. Mcwilliams on
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Wait a minute - are you sure your lot is 0.017 acre? That would be only 740.52 square feet! Most likely it's 0.17 acre - not a lot of property, true, but more likely the size of a home lot. That would give you $935 bonus at $5500/acre.
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Permalink Reply by sesport on
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Yes, I have a copy of the original survey done when I bought the townhouse 20 yrs. ago. My lot is 22 ft. w X 32 ft. D. I used someone's calculation for acreage on this site. It's not much, but it's mine AND it has appreciated greatly over the yrs. I bought it during that last big slump in the late 80's.
But this is why I keep saying the fee/percent thing is situational. I'm not looking to get rich, I'm looking to protect the neighborhood through the lease. Also, the money we get for the common areas will be great for capital improvements. We own & maintain our streets, not the city. We also have a few other recreational facilities (pool, tennis courts) that make the neighborhood attractive to buyers. Would be nice to get that maintenance monkey off our backs as we pay for them with dues.
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