Replies to This Discussion

Permalink Reply by intrepid on February 12, 2009 at 5:29

Laurie, please remind me, again, where your land is located? (sorry for not remembering and being too lazy to go back and look) And you are currently leased but no production yet, correct? What are your current lease terms?

Have you seen the discussion on CHK's recent comments on the main board about the HS being possibly the largest gas field in the world?

Permalink Reply by Laurie on February 12, 2009 at 5:41

My land is off of 947 in between Tenaha and Timpson...Tn Community ,CR4688. I got call from someone (Landman) around Christmas telling me he was doing title work because a well was going up, but I haven't heard anything since...now the lease is set to expire in July with 2yr already option already done and this person is trying to re-lease...with those prices...She tried to make as if the HS wasn't even a play...I did not like the way she spoke or what she had to say...as far as I'm concerned...I am held to them until July, if they put a well....great, I hope it produces but if they don't put a well, I can shop around for the best deal for me. I am not looking to be greedy but I want the best deal for me and my family. I want what the going rate is and I believe that there is no reason to rush into anything because prices will likely rise....I already believe the money isn't in the lease....it's in production...right?

Permalink Reply by intrepid on February 12, 2009 at 12:00

I do agree that the lease terms are more important than the bonus. Of course, you do want a decent bonus. Sounds like you will be letting the lease expire. Probably a good move.

Permalink Reply by Laurie on February 13, 2009 at 1:29

But...is it true that Petrohawk owns all the leases there....According to this lady, they have and will own 100% of the leases there.

Permalink Reply by king john on February 13, 2009 at 10:03

i would take everything any "land person" says with a grain of salt, after all they work for the o&g company, not you. without knowing exactly where your land is its hard to say what a fair bonus is. if the barnett shale is any indication those who held out the longest got the biggest bonus. the info you are asking about who holds leases in your area is easily accesiable on line at t.r.c. website.i can honestly say i would not lease my open acres in shelby county for less than 15k and 25% royalty. thats anywhere in shelby county. the land person will tell you your crazy and that is when you tell them to have a nice day and dont call back until they have a serious offer. if you have enough acres , you may want to consider an oil and gas attrny. or consultant.

Permalink Reply by Laurie on February 14, 2009 at 7:26

There is about 163acres total....50 of which is leased till 2010 and 110 acres comes due in July. I personally own 83 acres....the first 50 and then 33 of the 110, the remainder (80) is owned by my cousins...who are you with?

Permalink Reply by BirdDawg, plain ole' idiot on February 14, 2009 at 9:02

No solicitation is allowed on this site, unless you are a sponser.

Permalink Reply by Adam on February 14, 2009 at 2:52

King John

You are doing a great disservice to yourself and the community. To advise someone in Shelby County, or any county, that they should be asking for something more than 5 times the average going rate for that area is wrong.

Remember, this is Texas. They dont HAVE to lease anything from you. Unit lines can be drawn right around you.

I am not saying take the $200 and be happy. If you think it is in your best interest to hold, then do so. I just dont agree with someone coming in and saying you need to get $XXX for your lease and nothing else.

j, have you read the no solicitation policy?

Permalink Reply by ogmladvisor on February 14, 2009 at 5:09

Adam:

Well said, well said.

The outfit I work for has plenty of drillable acreage in Shelby County, and we simply won't deal with landowners that demand terms anywhere near what King John said. I can think of one case in particular, where a landowner has demanded an absurd bonus consideration...so now he is sitting on his front porch, watching our rigs drill multi-million dollar wells to his north, south, east and west.

There is nothing wrong with asking for a fair deal...matter of fact, part of what I like about my job is helping landowners make lots of money...but one has to draw the line somewhere. It's kind of like the old saying , "pigs get fat and hogs get slaughtered"...

Permalink Reply by Adam on February 14, 2009 at 5:54

I apologize for misstating. You are recomending holding out for a price that is more than 30 times the going rate. Obsurd.

Permalink Reply by Laurie on February 14, 2009 at 7:22

I just think I should hold out until the lease expires in July and see what the rate is going for then. I do know the price of fuel has dropped and it would be in their best intrest to top lease me now when the prices are down. I agree, "pigs get fat and hogs get slaughtered", so I will just wait until July and see what the going price is then. I do appreciate all the input though.

Permalink Reply by intrepid on February 14, 2009 at 16:44

Laurie, You may want to consider sending a certified letter to the company as soon as the lease expires requesting that they prepare and file a 'release' of your lease. This will put any other prospective companies interested in the area that your tract is no longer leased. You might get other interested companies.

oglmadvisor/Adam: If the HS does indeed run into Shelby Co. how would any acre that has potential notl be leased and drilled sooner or later and at the going rate at the time? As time goes by will the rate go up? Doesn't it usually?

How many wells could she drill on 163 acres?

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