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Oil & Gas ProPermalink Reply by Skip Peel - Mineral Consultant on October 1, 2011 at 5:59

The part on Kassi and her home owners group will break your heart, Gail.

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landownerPermalink Reply by kittycatmama on October 1, 2011 at 8:29

Skip, did Kassi and her group get out of the old lease that was holding their section from another section

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Oil & Gas ProPermalink Reply by Skip Peel - Mineral Consultant on October 1, 2011 at 9:20

A court has not heard that part of the case.  The first hearing was over venue.  Kassi's attorney wanted the case heard in district court, the defendants (Exxon Mobil Corp, Donald J Zadeck, Stephen D. Cassard, Suzanne Cassard Marks, Ruth Cassard Georgia and John D. Cassard) wanted it heard in federal court.  Kassi won that one which is of some significance but took many months.  So now there is a court date to hear the case in district court but I do not know when.  When it gets close, I'll post it.  And then try to give some periodic updates.

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Permalink Reply by Gail Brewer on October 2, 2011 at 10:45

Mr. Peel~please where may I find a copy of A Nation's Hunt For An Energy Future? I checked out library and could not find it there. Can one view on the internet?

Thank you~Gail ps..not sure I want my heart to break...but willing to take a look  :)

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Oil & Gas ProPermalink Reply by Skip Peel - Mineral Consultant on October 2, 2011 at 10:52

I will give you the link to the film website in exchange for you dropping the "Mr. Peel" and calling me Skip.  Okay?  Watch the trailer and then order the DVD.  I recommend the Extended Version.

 

http://www.haynesvillemovie.com/

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Permalink Reply by Steve on October 1, 2011 at 4:12

Thanks to everyone for giving time to respond and for all your sage advice. At this point the local leases have been at most $250 bonus and 1/5 royalty. The landowners in our subdivision each have from 2-25 acres, so the bonus money at this point is not significant to most. I believe I would wait to see if lease terms improve. Meanwhile, each lot owner can do his own due diligence about his mineral rights. There are 11 wells permitted so far in the TMS and 9 for the Austin Chalk, but, the land area involved is huge. Their are talks of at least a dozen more pad sites being scouted. With this amount of activity, we should get a better indication of whether or not we can expect lease values to move up or not within the next 6 months or so. It could be a bonanza or it could all fizzle overnight - no one will know until and unless several of the wells are wildly successful.

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Oil & Gas ProPermalink Reply by Skip Peel - Mineral Consultant on October 1, 2011 at 4:52

Bonus amount is secondary to lease terms,  Don't let it drive the group strategy.  Get the homework done now.  Get the Exhibit A addendum clauses agreed to ASAP.  You want to be in position to do two things.  Have a binding agreement for the group members, it can be short term say 60 days at a time.  Be prepared to shop your leaseblock to multiple operators/leasing companies.  Waiting for things to "take off" is not a good strategy.  Being ready when things do "take off" is the way to go.  And experienced O&G attorney or professional landman can help you make a prioritized "to do" list.  Then have group volunteers do all the leg work and document gathering.  Maximize what the group can do for itself and reply of the pros to do what the group can not.

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