Replies to This Discussion

Permalink Reply by L Davis on July 9, 2010 at 7:17

Could you relate your area as to direction and distance from Magnolia. Also, have you heard of any leasing in the NE part of Columbia County (the area north of highway 82 east of Magnolia to the Union County line).

Permalink Reply by RAZORBACK on July 9, 2010 at 8:00

Area is close to Emerson in South Arkansas.

Permalink Reply by Polly Ann Foote on September 14, 2010 at 8:28

Triad is leasing everything they can south of Magnolia in Townships 17, 18, 19, and 20. Does anyone know who Triad's client is? We have heard Pinebelt, Triad and a group of Magnolia businessmen are all interested in this area, but we have only been contacted by Triad which I think is odd. Thus I wonder if they aren't all in it together.

Permalink Reply by Alligatorshuz on July 9, 2010 at 13:02

I wonder who is drilling a well just outside of the Magnolia city limits on Highway 19 South.

Permalink Reply by R Adams on September 6, 2010 at 1:49

sigh brother and i were just contacted by triad too . . how much per acre and have u gotten a check yet? we have had promises by them before hope this one works out

Permalink Reply by RAZORBACK on September 6, 2010 at 3:33

$200 per acre for four years with an option for an additional four years at $250 per acre.
Payment was made within 30 days of lease signing.

Permalink Reply by D. L. Peace on September 8, 2010 at 15:26

Did you have an attorney look at your leasing agreement? Did Triad agree to make changes to the contract if some were needed?

Permalink Reply by The_Baron on September 9, 2010 at 4:27

wow... an eight year lease?

Permalink Reply by R Adams on September 9, 2010 at 8:20

sherry from triad told us they would be there 8 years drilling so that is prob correct.

Permalink Reply by Polly Ann Foote on September 14, 2010 at 8:18

Triad has offered 4 year leases with a 3 year extension. We thought 8 years was too long - we have not yet signed but we know people who have. Sherrie Plaza contacted us in the spring insinuating we had to sign this 8 year lease and we refused - thus the 7 year offer.

Permalink Reply by Geoff Jones on September 14, 2010 at 15:06

I am curious, what section are they offering to lease? From what I am hearing, they are paying a lot more than the usual rate in order to get a longer term lease. They called me last week, but have not gotten back with me on the description.

Permalink Reply by Polly Ann Foote on September 15, 2010 at 8:48

They are leasing in every section south of Magnolia in townships
17.18.19.20. They are offering 3/16ths and 200 for the initial bonus and $250 for the extension. But I do not think they are paying a lot more. Actually they are paying about the norm. The Arkansas Oil and Gas Commission ruled on Brammer Engineering's request to unitize all of Section 7, Township 18 South, Range 22 West on September 3rd; and in that ruling, one of the alternatives for unleased mineral interests was a cash bonus of $200 and a 1/5th royalty. I think we should all ask for a 1/5th.

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