New member - just got an offer from Chesapeake to lease our land

We just got an offer on our 5 acre lot in Logansport for $3500 per acre and 25% royalty. From what I am reading, this seems like a good price to take. Do you all agree? Also, what chance is there that they will drill? Do you all know how frequently good comes out of a lease when a landowner is approached and signs? Thanks.

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landownerPermalink Reply by Cathaus on February 10, 2009 at 11:51
Baron,
That is an understatement!

landownerPermalink Reply by Big Daddy, bcnr on February 10, 2009 at 13:56
Smart move laintexas. Royalties are the prize, keep you eyes on the prize. Has EXCO brought any production for you yet?
Permalink Reply by BMW42 on February 10, 2009 at 9:23
Thanks to your all's replies. Do you all have any idea if signing a lease is a fairly good possibility that they will actually drill for us to receive royalties? f.y.i.
Permalink Reply by Professor Fred on February 10, 2009 at 10:01
Where is your property? If in Shelby County, what part of the county? Please give the contact information for the Chesapeake representative you are working with. I have property in southeast Shelby county.
Permalink Reply by Todd M. Baker on February 10, 2009 at 10:25
The future is unknown. The way the business runs is determined by past results. Should a bad well be drilled near your land, the chances go down that a well will be drilled on your unit.

Under the current business environment, most companies are only going to be spending money for leases in areas they intend to drill. Speculative buying of leases is pretty much a think of the past- for the meantime.

Good Luck.
TMB

landownerPermalink Reply by intrepid on February 10, 2009 at 10:20
Who can really answer your question? You haven't provided any location information. Location is everything.

Oil & Gas ProPermalink Reply by Two Dogs, Pirate on February 10, 2009 at 10:29
I have never put one in a lease.

Oil & Gas ProPermalink Reply by The_Baron on February 10, 2009 at 10:56
I haven't either.

landownerPermalink Reply by Cathaus on February 10, 2009 at 10:31
So KB, You're telling me there is a Santa Claus?????

landownerPermalink Reply by intrepid on February 10, 2009 at 10:32
Do you think 5 ac would be enough clout to get it? Depends, I guess. And it's true some rare individuals did get favored nations clauses back in the day. But the first response throws out advice to get a favored nations clause on a 5 ac tract that they don't even have a clue about where it's located. Makes me wonder if that was just a stumbling block thrown in the way. Am I being too harsh?

Oil & Gas ProPermalink Reply by The_Baron on February 10, 2009 at 10:57
5 acres in a 640 acre unit = 0.78125%

Not enough clout.

landownerPermalink Reply by waltcop on February 10, 2009 at 11:43
KB, how do we check to see if a permit has been applied for in our section?

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