Replies to This Discussion

Permalink Reply by Les Bamburg on July 14, 2008 at 17:54

Parker, I am not a landman. I just worked for an O&G company in my past and am not currently associated with any of the O&G companies.

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Permalink Reply by Bobi Carr ("parker") on July 14, 2008 at 17:57

Thank you.
I have title experience and was trying to get a landman job before all of this broke loose. I don't hold it against anyone for doing their job. If you have seen any of my post I was not even mad at getting $200 per acre for 275 acres. I felt like that is a part of business, but enough is enough. Could you please read my post about they are not through ripping you off and give me your opinion.

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Permalink Reply by boo on July 18, 2008 at 2:36

Parker, they totally skipped me when my ex signed on our property that we have together. They only leased his portion is what they told me. The well is now flowing and I am still waiting on them to come lease my portion. My portion of the property is a little over 1/2 acre. Are they required to lease Me as i do not want to be forced pooled into this.

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Permalink Reply by Bobi Carr ("parker") on July 14, 2008 at 17:22

I would also like to state that I DO NOT intend on being a working interest owner.

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Permalink Reply by Rocker on July 17, 2008 at 7:23

IF you have a good investor this would be a great opportunity to be a working interest owner.

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Permalink Reply by Johnson on July 18, 2008 at 4:57

Any idea what it would cost to be a working interest owner? per acre?

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Permalink Reply by Snake Stewart on July 18, 2008 at 7:23

If the true number is $6,000,000 which I highly doubt at this point, would roughly be $9375 per acre if my math is right.I have read that drilling cost are skewed and that actual costs are between $3,000,000 & $4,000,000 bringing the per acre amount to between $4687 & $6250. For a 1/4 acre resident of a subdivision , they could be consent well owners from $1171.75 to $2343.75 ???????????
Some of you guy's in the know please check my math because this can't be right.

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Permalink Reply by Johnson on July 18, 2008 at 7:25

That sounds like it might be an option for people who don't get a fair share for a signing bonus.

If you buy in you get paid from the get go.....correct?

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Permalink Reply by Snake Stewart on July 18, 2008 at 8:30

From what I understand , that is correct. Pushing the issue on these horrendous tactics may very well begin to blow up in their faces.With all the instant millionaires around this area it may not be difficult to find an investor to back you . Especially since they haven't drilled a dry hole on the Barnett or the Haynesville as yet. Doesn't sound like too much of a risk to me at this point.

As I have stated previously , they ain't looking for business partners, so they better be careful. This is the largest N/G field in the country.# 4 in the world until next month when it moves up another notch or two. This could sure beat some of the crappy #'s my mutual funds are dishin' out!

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Permalink Reply by Johnson on July 18, 2008 at 8:35

At less than 10K an acre I wouldn't even need an investor. I don't have much more than an acre.

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Permalink Reply by Les Bamburg on July 18, 2008 at 11:38

SS, I don't know where you get your information but time for a new source. There have many wells drilled to the Barnett Shale that produced a mere fraction of their capital cost in revenue and will never get close to paying out. Mitchell Energy spent a lot of money before developing the technology and identifying the better spots of the play. Also, let's not forget about karsting or the absence of the Viola lower frac barrier.

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Permalink Reply by Johnson on July 18, 2008 at 15:32

Any idea what percent of the wells in the Barnett payed out?

Would you care to make a guess if you don't?

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