Releasing in South Bossier
I am located in South Bossier Parish and was leased by Encana early before the "word" was out about the Haynesville Shale. Yes, we were "bottom fed" by Encana. They have never drilled in our section, in fact, our section was increased to 990 acres because of Barksdale. This certainly waters down everything.
A few weeks ago, a landman from the same firm in Lafayette came by to try to lease our minerals for two years for Encana. They are only offering 22.5% royalties and it is a "take it or leave it" deal. They were also offering a signing bonus. The royalties and section increase concerns me. Any thoughts?
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Replies to This Discussion
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Permalink Reply by MCH on
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Thank you for replying. I wasn't so concerned with the lease offer as I was with the percentage. As I understand it, since it is a release, it is not negotiable. Right? I certainly do not want to be force pooled, as I have experienced that in the past on other property. When I spoke to the landman I tried to ask for a larger percentage, and he said it wasn't negotiable. I didn't add in a lower bonus, though. I could come back with that. Certainly the money is to be made over the long haul, not the initial money. I know one of my neighbors has already resigned with Encana with the same lease as before.
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Permalink Reply by Bobi Carr ("parker") on
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Good luck getting a higher percentage with ECA for property in South Bossier. I tried the first go round and tried again this time. I figured BPH/Petrohawk would be interested in such a large tract but they weren't. At one point they were even planning on putting the well site on my property and STILL would not go higher than the 22.5%.
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Permalink Reply by Sligo on
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I am interested to know what section you are in. I just checked the Sonris site and did not see any 990 acre units. What is the name of the unit?
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