landowner

USG Properties Haynesville LLC

I am in North Caddo and received a letter from the above company.  Has anyone had any dealings with them.  I have no knowledge of this business and am seeking advice.  We have less than an acre.

This is their offer:  Is this good or bad!  Help!

Our lease offer consists of one of two choices:

  1. $2000.00 per acre signing bonus with an 18.75% royalty, or
  2. $1500.00 per acre signing bonus with a 20% royalty

 

This offer is for a 3 year paid up lease with a 2 year extension at 2/3 of the initial bonus. Attached is an example of our lease form for your review.

Thanks

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Replies to This Discussion


Oil & Gas ProPermalink Reply by Skip Peel - Mineral Consultant on September 16, 2022 at 7:28

You're welcome.  I'm waiting for completion data on the HA unit immediately west, HA RA SUQQ.  There are four wells completed but not yet reporting Initial Production.  Those wells are in Section 32 - 19N-14W and Section 5 - 18N-14W.  Those results should be publicly available in the near future.  Trinity already has that data.


landownerPermalink Reply by Iris on September 14, 2022 at 12:35

Kate, I used to live on the Pinehill Road, the part that is now between 1 and  71 and no longer Pinehill Rd, of course.  Skip Peel can probably help you with that.  Property my family still owns is now on Hwy 1 and North Market. just south of Pinehill but have no idea what block it is.  Good luck, many people in this group have been helpful to me,  especially Skip but others, too. 

Looking at Google and my exhibit map it looks as if it could still be in Section 4 , T18N, R14W.but maybe Section 5.  


landownerPermalink Reply by Kate Jones on September 16, 2022 at 7:25

Yes, Skip has been a Blessing to me as a Novice. He is responsive and he offers his help in every way.

I thank you too Iris for your responsiveness also.

Stay safe.


landownerPermalink Reply by Kate Jones on December 12, 2022 at 12:52

Do you know of a Law Firm that can look over my offer.


Oil & Gas ProPermalink Reply by Skip Peel - Mineral Consultant on December 12, 2022 at 12:55

My O&G attorney is Randy Davidson.  318-424-4342 or rsdav@davidsonsummers.com.


landownerPermalink Reply by Iris on November 14, 2022 at 11:01

Is there anything new re:  HA RA SUXX? T18N R14W and Sections 4,33.  It includes some of North Market and a stretch of Pine Hill Rd.


Oil & Gas ProPermalink Reply by Skip Peel - Mineral Consultant on November 14, 2022 at 11:44

Trinity has never permitted any wells for HA RA SUXX.  The wells next door in HA RA SUQQ (S32-19-14 & 5-18-14) were completed and turned to sales in early October although there is currently no Initial Production data available.


landownerPermalink Reply by Kate Jones on December 14, 2022 at 14:46
No drilling, just acquiring property.
Do you know a firm that could review our contract?

Oil & Gas ProPermalink Reply by Skip Peel - Mineral Consultant on December 15, 2022 at 5:00

Kate, I always suggest my O&G attorneys at Davidson Summers APLC in Shreveport.  You may contact Randy Davidson at 318-424-4342 or rsdav@davidsonsummers.com.


landownerPermalink Reply by Kate Jones on December 15, 2022 at 9:32
Thank you

Oil & Gas ProPermalink Reply by Skip Peel - Mineral Consultant on December 15, 2022 at 10:38

You're welcome.  The firm has helped a number of GHS members with leases and negotiations with USG Properties.


landownerPermalink Reply by Les on June 1, 2024 at 5:32

I see this thread is a little dated but I thought I would add that I just received a letter from USG Properties looking to lease our 1-acre Pine Hill Rd lot ( Section 4, 18N-14W) for similar terms as noted above. Sine most of my other mineral interests in Caddo Parish are leased at 25% royalty, I have requested the same for this lease. USG may not agree to the 25% but I thought it wouldn't hurt to ask.

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