Replies to This Discussion

Permalink Reply by king john on July 28, 2010 at 23:44

welcome to the shelby county group highpocket. lease bonuses are all over the board. i have heard of $500 to $5000. i know that seems like a big range, but that is indeed what i have heard. and, everything in between. i would reccomend looking into who is offering you a lease. frankly, if they do not drill, why waste the time. what many companies do is lease from a person for say $500 and 1/6, and turn around and sub-lease it for say $2000 and 1/4. it's called "flipping" and it's amazing to me how many mineral owners fall for this. i would look into which major players have units near you and wait for them to approach you. notice, i said wait. IMHO- when an individual contacts a company about leasing you will never get their best offer, point being when they seek you out, they are in need of your tract and you will have more negotiating power. keep in mind the bonus money is important but the lease terms are far more important. hope some of this helps, and good luck getting a lease.
kj

Permalink Reply by True Texan on July 29, 2010 at 12:10

We got $5,000.00 per acre for a three year less with no option. We also got 1/4 royaltys. We made sure that we each got a casher's check at signing. We had heard of companies not paying some people after they had signed. Don't let someone lease your property real cheap because they are just going to flip it with a bunch of other leases that they have locked up. This has happened to us in the past. Some of the first leases that we signed in this area were cheap. $200.00 per acre. This was before all of the news came out about the area being so hot. They sold those leases to other companies but now they have expired. Now we are waiting for some other company to want to lease the same tracts. I would say the bounses are where it's at right now. If they drill, a lot of these wells go dry within a couple of years. That is what is happening with some of our Robertson County wells. Some what big checks at first then they are next to nothing within 36 months. One well that was drilled only three years ago my last check was $156.00 You want the lease to be signed and they not drill at this point. The more holes they sink next to your property could mean more money for your lease or less. It's just like Las Vegas! It's a crap shoot. If you have a well drilled don't run out and think you are rich by any means. Most of the time that will not happen.

Permalink Reply by H1 on July 29, 2010 at 12:18

Where was your land? Are you in Tenaha, Paxton area?

Permalink Reply by intrepid on July 31, 2010 at 16:57

It might help to let them know how recently that was, Robert.

Permalink Reply by True Texan on August 1, 2010 at 16:50

Sorry that I forgot a date of the lease signing but is was almost two years ago! It was in the William Nail Survey A-523

Permalink Reply by High Pockets on August 13, 2010 at 14:39

I'm just getting into this leasing thing, so I've got a lot of learning to do.

How do I find out what survey my minerals are in? Try and keep it simple for me. Us old guys aren't real quick anymore. lol

I found an interactive map the other day, that showed Wells in my area, but I can't remember where I found it. Only had a couple of minutes to look and then I had to go. Do y'all know where it was? It showed active and non-active Wells. (Well status)

Thanks for you help,
HP

Permalink Reply by Endwise on August 23, 2010 at 10:59

Hey there High Pockets, I'm new at all this too, and this is the site that helped me find out what my survey number was ... http://www.rrc.state.tx.us/data/online/index.php ... once you are on that site the first blue box(under oil and gas), press launch application and that will bring up a map. Shouldn't take you no time to figure it out.

Permalink Reply by High Pockets on August 2, 2010 at 6:26

Yes...Just east of Tenaha and just south of Paxton. They call it "Old Home". I don't know the road numbers, but if you went to Old Home Church and looked west, you could almost see it. It would be about 1/2 to 3/4 mile, as the Crow flys. They are offering $350 & 1/5.

Permalink Reply by High Pockets on August 12, 2010 at 19:20

While we're at it, does anyone know a good Lawyer in the area (Tenaha/Center), for handling leasing contracts.

Thanks,
HP

Permalink Reply by H1 on August 13, 2010 at 0:35

What company are you dealing with?

Permalink Reply by High Pockets on August 13, 2010 at 14:28

Landman.

Permalink Reply by True Texan on August 13, 2010 at 10:12

Hello High Pockets,

I used this guy out of Tyler about a year ago. He is great. He helped me fix some info that was filed wrong on some deeds may years ago. We had to go back to the ken folk of the people that my grandfather had purchase the rights from and have all of the sign off on it. I did the research that he needed but he filled out all of the paper work and contacted the people once I found them. Then I took the paper work and filed it myself. Everything went real smooth and quick.

http://www.potterminton.com/attorney.cfm/Attorney/Randall_L._Robert...

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