Replies to This Discussion

Permalink Reply by Henry on August 5, 2010 at 23:25

Therone,
I cannot tell you how much to lease for.... but you do know that the well in your section has been drilled and completed?

The Heard 19-12-13 well was completed by Chesapeake. COMPLETED 5-5-10; GAS; HAYNESVILLE RA; 12,720 MCFD; 22/64 CHOKE; 6840# FP; 1580# CP; PERFS 12,050-16,401' MD

Permalink Reply by THERONE BARNES on August 7, 2010 at 6:11

THE RELATIVE THAT HAS 1/2 OF THE PROPERTY (BUT CLAIMED HE WAS SOLE HEIR OF ALL THE PROPERTY) SIGNED A 3 YEAR LEASE A LITTLE OVER A YEAR AGO. WE JUST FOUND OUT, AND HAVE BEEN OFFERED A 1 YEAR LEASE. SHOULDNT WE BE OFFERED A 3 YEAR LEASE ALSO, OR IS A 1 YEAR LEASE GOOD, AND DOES THIS MEAN THAT THE RELATIVE, THAT SIGNE OVER A YEAR AGO, IS ALREADY RECEIVING ROYALTIES?

Permalink Reply by Two Dogs, Pirate on August 7, 2010 at 6:18

All you need is a one day lease if Henry is correct on the well that has been drilled. Once you sign the lease it will be a done deal. I doubt that anyone is receiving royalties as of yet but they will be coming in shortly.

Permalink Reply by THERONE BARNES on August 7, 2010 at 6:32

THANKS FOR THE RESPONSE, TWO DOGS, PIRATE. ALL RESPONSES ARE GREATLY NEEDED, AND APPRECIATED.

Permalink Reply by Two Dogs, Pirate on August 7, 2010 at 6:58

Therone, don't feel like the Lone Ranger with having problems with relatives trying to take it all and leaving you with nothing. In my whole time of being a Landman I have never seen so much land stealing as I have in DeSoto Parish.

Permalink Reply by THERONE BARNES on August 7, 2010 at 8:38

WOW! AMEN BROTHER!,

Permalink Reply by FXEF on August 7, 2010 at 12:40

For the love of money is a root of all kinds of evil. Some people, eager for money, have wandered from the faith and pierced themselves with many griefs. (1 Timothy 6:10)

Permalink Reply by Jon Bigboote` on October 25, 2010 at 6:19

I am an heir in land located close to the Brasch Family well and it has been heck trying to get anyone to talk to us due to other relatives signing and well you know the rest. We were recently offered a lease on our portion and was wondering what a fair rate would be in that area. We have section that is is haynesville and the other that is in cotton valley. We are getting a lawyer for the legal prtion to deal with familiy issues but could use some outside advice on sign bonuses.

Permalink Reply by J B Nabors on October 31, 2010 at 12:18

If I understand correctly, you hold undivided interest to x acres.
Call your family ownership 100% of x acres.

One person owns 1/2 or 50%
Three people own 1/3 of 1/2 = 1/6 or 16.67% each.
One of the 1/6 interests has to be divided by two heirs: each of them will hold ~8.33%

Now the ownership of the 1/2 interest is to be split three ways, so each of THOSE heirs will receive 16.67%

Assuming that none of these individuals are inheriting from more than one decedent, you will have seven owners:
5 will own 16.67%
2 will own 8.33%

It would help a lot if all wills are probated, and all transfers from decedent to heir are recorded.

I would strongly recommend that you CAREFULLY read some of the topics dealing with leasing issues; many people consider the "leasing bonus" the primary (or only) issue. That is absolutely untrue.