Replies to This Discussion

Permalink Reply by msfva on September 25, 2008 at 5:16

I believe SWEPI has unitized you. Go to the Louisiana Public Hearings and look on the Jan 23 docket, number 8-66 for under Grogan Field. Shell doesn't seem to be pulling out. Rather, the seem to be moving in.

http://dnr.louisiana.gov/CONS/CONSEREN/hearings/2008/01JAN/08-66ap0...

Permalink Reply by Grumpz S2 on September 25, 2008 at 8:32

I to live in Texas and am new to this. My property (20 acres) is South of Pleasant Hill T10N - R11W - S36. We originally offered $4,000, We got Dave Means, Atty in Mansfield involved and he got us $12,500. He did an awesome job for us and we are very pleased. Hope this helps.

Grumpz

Permalink Reply by SLEM on November 7, 2008 at 4:04

Grumpz S2...thanks for this information. I have been going around and around with Shell and now they have indicated they are not currently leasing in Sabine Parish other than on a tract by tract basis. Right now, our tract is not being considered. So frustrated!! I took your advice and called Dave Means...the lady that answered said that this firm is in process of closing....Mr. Means had retired. Do you know if this is correct? The # that I called was for the firm Plummer and Means out of Mansfield, LA. Did I call the right firm? Thank you!!

Permalink Reply by Two Dogs, Pirate on November 7, 2008 at 4:18

They have shut the leasing down for now. If your property is in one of their designated units that they plan to drill then you will be contacted when it comes closer to drill time. Don't look for much to happen until after the first of the year. Don't look for the bonus money to be as high as it was a few months back.

Permalink Reply by pam kurz on October 11, 2008 at 4:57

Shannon,
I am new to all of this, as well. My mother is in a pool of 10 family members.....500+ acres off RocksCreek Rd. in Marthaville. They were offered 12,900/acre a couple of months ago. They told the broker they would accept the offer. Several meetings were held.....since my mother lives in Texas......her older brother has been calling her and giving her updates. She recently received some papers from the broker who asked the pool to sign
"Fee Agreement and Authority to Represent" for some attorney in Bossier City. I'm questioning is this common practice? The agreement states she has to assume all the expenses to retain and employ the attorney plus a 25% of any gross primary term bonus consideration received. Sounds like someone else wanting to get a piece of the pie. Any suggestions?

Permalink Reply by pam kurz on October 11, 2008 at 5:02

I forgot to mention the oil and gas company, XTO has been dragging their feet. They have not signed the contract and the broker now wants to hire to attorney to force them to come through with the deal. My question is why should we have to pay for an attorney's fees + 25% of any gross primary term bonus received. Why not sign with another oil company? What do you think?

Permalink Reply by Two Dogs, Pirate on October 11, 2008 at 5:11

Many deals have been called off this week because of the economy. Don't look for anything to happen until this mess is straightend out. Most have stopped leasing.

Permalink Reply by Two Dogs, Pirate on October 11, 2008 at 5:03

Sounds like a rip off. The people that I have talked to that pooled property paid 3% of the bonus money.

Permalink Reply by pam kurz on October 11, 2008 at 6:27

Two Dogs,
Have you ever heard of Tag Rural Lease Consultants? Or Robert I. Thompson, III, attorney in Bossier City? Another name on the paperwork was David Hall, Divine Minerals. Wondering if these are reputable businesses.
Pam

Permalink Reply by Two Dogs, Pirate on October 11, 2008 at 7:07

A fellow named Tag Hollaway put a deal together on a group of land owners around Belmont for Chesapeake. All those land owners are spending that money as we speak. I saw a brand new Hummer H3 and a new decked out Harley at one of my lessors house yesterday. If Tag Rural Lease Consultants is this same Tag then I guess he is ok he charged 3%. I saw a contract that one of my lessors signed with a David W. Hall as agent for Devine Minerals, LLC about a month ago, the lessor was older man, he signed a blank contract or at least the copy he held was blank as far as date and property description. The contract was good for 30 days but without a date to go by. It provided for a 3% fee on bonus and option plus $150 per hour plus mileage and expenses. The lessor told me that he had signed 60 days previous and had tried to contact Mr. Hall many times but was unsucessful. At the time I was talking to the lessor he told me he was going to sign a lease that afternoon with Audubon. The last sentence of the contract read "Owner agrees not to negotiate with leasee without agents knowledge". This is all that I know and cannot comment on the reputations of either involved.

Permalink Reply by pam kurz on October 11, 2008 at 7:53

Two Dogs,
Will you kindly read this post below and offer your insight?
"The land is actually in Township 10 Range 10....looked on property tax records and the acreage is closer to 380 acres. I forgot my brother sold his land. Nonetheless, the broker/consultant firm negotiating the deal supposedly proposed a draft which was submitted and XTO has not responded. Now they want to pursue litigation to end the delay tactics. My concern is litigation could possibly drag on years.....preventing my mom from signing on with another interested party making an offer once the market picks up. Has anyone on the forum heard similar stories posted in the past? Is this typical tactics by oil companies? Do brokers typically ask you to pay for attorneys to force the deal? I'm thinking the family should consult an oil and gas attorney or sit tight? Sounds like alot of money going to an attorney.....25% of any gross primary term bonus received. Hmmmmmmmmm......what do you guys think?????"
Appreciate your time....Pam

Permalink Reply by Two Dogs, Pirate on October 11, 2008 at 8:11

Who did she sign with? XTO is a good company that has lost about half of their stocks value in the past week along with most of the other companies working in the shale. Some lawyers have presented deals to these companies for them to look at but until they sign it's not a deal. I would not agree to anything without talking to an attorney if I was in your shoes. Have all the mineral owners involved signed this document or does your mother own them all?

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