Blue Ribbon Energy Group LLC agreement to lease

Has anyone been contacted by letter from Blue Ribbon Energy LLC Oklahoma City, OK  for agreement to lease for $400 per acre, 3 year lease with a 2 year option , 1/5th royalty?  Contacted in February 2015 and no lease received as of May 27th.  

Talked with Blue Ribbon and they gave me a vague picture of trying to interest investors in developing a lease project in the Louisiana Haynesville shale area.  At this time geologists are analyzing data to determine the specific areas to be leased.  The land description does not fit the land we own and upon questioning they replied that the mailing list was comprised from a preliminary survey of tax records.  When completing data analysis ownership records will be searched and leases prepared.

Sound a bit like a fishing expedition to me.

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Permalink Reply by Stephanie Wilson on November 4, 2015 at 4:03
Just contacted by Blue Ribbon landman trying to push a deal. Mailed us paperwork yesterday for property in Desoto Parish. His proposal is too low. Where are you located?
Permalink Reply by Skip Peel - Mineral Consultant on August 12, 2015 at 10:37

Did you have the Option to Close the discussion?

Permalink Reply by RAZORBACK on August 12, 2015 at 10:44

Could not find one.

Permalink Reply by Skip Peel - Mineral Consultant on August 12, 2015 at 10:45

I'll let Keith know.

Permalink Reply by James W Funk on August 17, 2015 at 8:14

I recently received a call from landman offering terms for a lease in Sabine Parish.  Very favorable terms.  I received lease to sign but questioned one item in lease.  Response was that they were withdrawing their offer.   Not sure what they are up to but spending money with landmen to research and contact prospects.

Landman said they probably would come back later, but I will certainly be cautious, and with stronger terms the second time around.

In my case were looking at Sect 19 of 9-11 and sect 31 of 9-11.

They do have a web site showing Oklahoma City.

Permalink Reply by Two Dogs, Pirate on August 17, 2015 at 12:31

Mr. Funk what was the royalty in the lease and was that what you questioned?

Permalink Reply by James W Funk on August 18, 2015 at 1:53

They offered $ 750 per acre and 20%.  My only objection was to give outright approval for injection well.  Would prefer to discuss in future as I own the land.  They also had a depth clause.  Other than the injection question, was good proposal,  I thought, until I see someone else is offered $ 1000 per.

Two months ago I had an offer on another area in Sabine at $ 75 per acre and of course turned it down.  This was an outfit from Mississippi.

Permalink Reply by Joe Aldridge on August 18, 2015 at 8:49

Mr. Funk,

As I read your post it would appear that they had an interest in drilling your property. A SW disposal well is necessary if a well is drilled and produces water with the oil or gas which most do. That produced water has to be injected on site or hauled to a disposal well off site. That's just a part of doing business. 

Permalink Reply by James W Funk on August 19, 2015 at 2:09

That may be, I just wanted control of the process as we own the land also.  It would appear that they have made several lucrative offers in the area, only to back out at lease signing.  Perhaps they need to review what the landmen are doing, or get serious before they play the game.    Only hurting their reputation.

Permalink Reply by Skip Peel - Mineral Consultant on August 19, 2015 at 2:13

Blue Ribbon is not calling the shots, their client is instructing them.  Decisions on lease offers are subject to change and often do so abruptly with no prior notice or seemingly related market reason.  Blue Ribbon is a "land company", not an operator.  Their client might also be an investor.

Permalink Reply by Bill Land on November 4, 2015 at 9:41

Do NOT accept anything less than 25% royalty. Blue Ribbon is attempting to stay under the radar for a known speculator that wants to turn around and sell the leasehold interest for an ORRI in your section. I would not sign with anyone right now in this environment unless they are a reputable operator that is serious about developing your property.

Hope this helps and best of luck.

Permalink Reply by Henry on November 9, 2015 at 13:40

Can you share how you know this?  They just called me today regarding land in DeSoto Parish.

Also, what's wrong with leasing with an investor?  As long as I get the lease and financial terms I want, I don't understand the drawback.  Can you help me out?

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