Replies to This Discussion

Permalink Reply by Checkmateking on March 7, 2009 at 5:43

I am not a Lanmdman but one of my pals is and he told me a good one. He is a cheasapeake in house landman, he had a young woman all ready to sign up on 20 acres for 12 grand an acre. Well she just new she could hold out for 20 and get it, he told her again and again 12 was all they were going to get (18N Bossier) (in the boom days mind you) well she decided she would just hold out till she got her 400,000. But in the meantime she thought it would be a great idea to mortgage her house to the hilt and go ahead and spend all the money since of course she would get her 20 thousand per acre when Cheasapeake buckled to her superior negotiation skills. Well to make a long story short, you all know how this one ends, the bottom fell out and she wound up getting 1200 an acre just to keep her behind out of bankruptcy. He was telling us how he sat at the table with her and she just cried and cried, it was sad but it's hard to believe anyone could be so foolish. Talk about counting your chickens before they hatch.

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Permalink Reply by Two Dogs, Pirate on March 7, 2009 at 6:27

It was real cold and had been raining for days, I pulled up to this trailer house to make first contact with the landowner because I couldn't find a phone number for her. I knocked on the door and a man answered, I asked for the woman by name and if she lived there, he hollared "HONEY SOMEONE HERE TO SEE YA" I heard noises coming from under the trailer house and directly this 300 lb woman wearing shorts and a tee shirt climbed out from under the trailer, she was covered in mud and only had what appeared to be two teeth in her head. I introduced myself and she extended a mud covered hand to shake, I shook hands with her and she had a grip like Jack Dempsey. She told me that the pipes had frozen and broke the night before and that she was fixing them.

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Permalink Reply by Checkmateking on March 7, 2009 at 6:33

I hope you gave her a fair shake LOL! I wouldn't want her mad at me.

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Permalink Reply by Cathaus on March 7, 2009 at 6:53

That sounds like the Kettle family. Ma doing the work and Pa sitting on his butt!

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Permalink Reply by Skip Peel - Mineral Consultant on March 7, 2009 at 7:10

parker. I don't know if this story fits the criteria but I find it interesting and instructive. I once took a mineral option on significant acres from a very educated and gentlemanly landowner. He and his family were experienced managers of their mineral interests going back three generations and he had not one, but two, experienced attorneys. He and his immediate family enjoyed substantial financial security. So why would he choose to sell? Turns out the property in question had been placed in a trust with the beneficiaries in part being the former employees of this landowner and his family. Looking ahead the landowner suspected that tough economic times were in the future. He decided to sell a portion in order to supply his valued former employees with some extra income to help them through those tough times. There are many reasons an individual or family group chooses to sell minerals or royalty.

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Permalink Reply by Bobi Carr ("parker") on March 7, 2009 at 7:22

I'm not a landman, but when I was selling houses in Mississippi, I went to a house shack, where you could see the chickens under the house through the cracks in the floor. I couldn't believe in this time in history that people lived like that (about 20 years ago). I was very uncomfortable, but the people were very nice. My car wouldn't start when it was time to leave. It was about an hour and a half before my ex-husband could come pick me up. The people were extremely kind and hospitable. I just remember them having so little and being so worried and concerned about me who had so much in comparison. I can't remember whether they bought a house or not, all I remember is their kindness.

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Permalink Reply by Cathaus on March 7, 2009 at 7:43

You learned a valuable lesson that day Parker. We may be poor in the world's eyes but wealthy with love and kindness. Money comes and goes but goodness is forever.

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Permalink Reply by Skip Peel - Mineral Consultant on March 7, 2009 at 7:46

Amen

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Permalink Reply by DaddyT on March 7, 2009 at 15:33

I am not a landman, only a land owner, this is about my sister who has a modest little house in the country. A landman came calling and ask my sister and her husband about selling their minerals. She had leased for $100 an acre when no onew in her community knew anything about the Haynesville Shale. She has all her children living on the property next door to her, and has never wanted for much, but worked really hard all her life. Her home is small and she has what she needs, a farm with cattle, and as I said, she and her husband have always worked extremely hard. They are highly repected in the community. This landman comes and tells her if she will sell her minerals to him she can have the biggest house she wants and everything in it. The finest furniture and cars, anything just sell him her minerals/royalties. She looks him dead in the eye and say "What's wrong with this house, it ain't leaking is it?" God bless her, she now has a 10 acre pad and 2 Haynesville wells, along with the promise of more wells on her superpad. She only knew that our Dad and Mom worked really hard for this land, and she was not about to sell the mineral/royalties. She was happy with what she had and now she is really happy she can give to her family.

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Permalink Reply by DaddyT on March 8, 2009 at 4:31

Thanks, KB, I have enjoyed reading your thoughts, but I don't add much often. It maybe that I am not really versed in the gas business. I have learned a lot from this site and respect many of the people that add to the discussions. I usually just ask questions and ya'll are kind enough to give me the answers.

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Permalink Reply by sesport on March 8, 2009 at 12:49

Ouch, Rosebud, hope it wasn't rose bushes ... or anything else with thorns. funny :0)

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Permalink Reply by KAYBABY on March 9, 2009 at 3:15

Back in the 80's, an in-house landman that was my supervisor went to the "country" to get a lease. She offered 1/6th royalty. The owners told her they would take "1/7 th" instead. I wonder where or if they went to school.

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