Replies to This Discussion

Permalink Reply by intrepid on February 27, 2009 at 16:18

And what would be the point of refuting that statement? What's the prize?

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Permalink Reply by intrepid on February 27, 2009 at 16:32

If I disprove it could I swap him for you on the quiet dinner?

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Permalink Reply by intrepid on February 27, 2009 at 16:59

We would never talk politics. Shale, music, best place to get a margarita, fishing......maybe even bowling but never politics.

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Permalink Reply by ToroGuy S4 on February 28, 2009 at 7:44

Me thinks 2G's question is an attempt to use statistics kinda like how a drunk uses a light pole...for support, not illumination.

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Permalink Reply by Eric S. Clarke on February 28, 2009 at 14:16

Ok your point is taken, but the bonus monies that were offered back in the early 1900's so as most leases have been derived from for the risk of not finding anything and a chance were under standable and validates your question. However, this is the 20th century and tactics from the 1900's and thoughts of the 1900's are being used. Technology has put these apprehensive risks at a record low and the risks are not the same as they were. The technologies available to the oil and gas industry are almost fault proof. Drilling for oil may be a little more risky but for the gas finds that I can not accept, especially when you are talking the Barnett, Hayneville, Marcalus, and many other extremely large shales. How many dry holes have you heard being found? Then comapare that number to the producing wells in the Haynesville Shale. Well those tactics of embedding doubt in the minds of the mineral owners and the greatness for the bonus for the risk to cough up almost all you rights to your minerals is simply lack of knowledge of what is going on around the areas of the Haynesville Shale. So, if it is bankruptcy the Oil and Gas companies endure is their faults for lack of use of technologies and not that which a lease that a mineral owner wishes to execute to retain some say so and rights to what was theirs to begin with, before someone decide the value of their minerals and does not disclose the information. These are the tactics that many are still using in the O/G business that still lure those in to sign a lease that for what ever reason does not know what they are signing.

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Permalink Reply by Two Dogs, Pirate on February 28, 2009 at 14:58

Eric, this is the 21 century and in fact tactics used in the 19 century hold true today. The mineral owner sees a sure bet and the price of the bonus and royalty percentage goes up. Between the years 1908 and 1909 the bonus jumped from $50 per acre to $1000 per acre in Caddo. I would think that $1000 in 1909 would make some of todays offers look like chump change.

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Permalink Reply by intrepid on February 28, 2009 at 15:49

They didn't have 3D seismec in the 1900's.

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Permalink Reply by Two Dogs, Pirate on February 28, 2009 at 15:58

But they made the deal profitable.

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Permalink Reply by Eric S. Clarke on February 28, 2009 at 14:36

Furthermore there have been citizens that signed a lease that they were informed, was to thier best interest, but were not informed of what they were signing. The result was their mineral rights were sold and their land. Also, the lease holder reserved the right to have the "once owners" placed in a nursing home( Court Case ). So, I think this sounds bankrupt to me. They lost everything!

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Permalink Reply by TJ on March 11, 2009 at 14:32

I don't think landowners have the option to file bankruptcy if they get a bad lease. Do you? Come to think about it landowners do not have protection like the O&G companies. The rules are setup for the companies not the landowners. Bankruptcy is an easy way out! Clear your debts and start over. The lease well your stuck with it..no ends and or buts about it..So if giving away minerals is comparable then yes the landowner should be able to say I'm bankrupt!!!!!! and you paid me Nothing for my minerals..

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