Leasing on "Hold" ?
I received a phone call this evening from a professional in the O & G business (a friend), he told me that some companies have stopped leasing at this time and if I had offers on the table, I needed to seriously consider them. I don't and I didn't. But he had some offers "dry up" today from Petrohawk and CHK. Anyone else with this experience?
Views: 270
Replies to This Discussion
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Permalink Reply by Gone Fishin on -
Very nice , way to go!!!!!! thats some good info. I havent finished listening to it all but the first part says it all.
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Permalink Reply by insomniacnla on
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CHK also has the written transcript of the conference call now on their website. The written transcript made it much easier for me to pick up on all the figures McClendon threw out.
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Permalink Reply by Tom Johnson on
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Thanks for your reply on Aug. 14 about CHK's activities/preparations, I tried numerous times to go to the link u had, unable due to my slow pc. Anyway good info. We have been concerned about not getting a slightly higher counteroffer from a landman rep. CHK, on our interests just N. of Shelbyville, next to Campti. The orig. offer was in July for $4k/25%, we are told they are working on it, but time passes, no new offer. Petrohawk was also interested, but just seems they are dragging their feet.
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Permalink Reply by Ladyoaks on
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Jim,
They priced the transaction two days ago and will receive 711M in cash tomorrow. Not sure how much that will help in their overall scheme, but looks like they are opting to play this one alone for now.
we'll see...
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Permalink Reply by louisiana lady on
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The information on this board is superior and quick. I should tell my attorney friend since he might spend less time scratching his head while trying to help clients with leasing. Thanks for the input to my comment/question.
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Permalink Reply by Gone Fishin on
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Take this time to group your neighbors and other land owners together in your area. Be patient. Good things come to those who wait. If you are a small land owner it is important to stick together.
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Permalink Reply by RAY on
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be patient. remember,
they are still buying up the scraps of unleased land in Barnett Shale .....at the tune of $27,000 / 27%
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Permalink Reply by Lerret on -
You will learn the actual numbers and science behind CHK's activities, their two years of prepartions for this play, the long term steel tubular pipe contracts they entered into to make certain they had plenty for rigs, even have a CHK boardmember who is the CEO of a tubular pipe company, their long term gas line space contracts, the fact that they will not have to pay to pressurize HA gas because it is coming up at 10,000psi, the fact that CHKs total conservative cost including $30k leases is expected to be no more than $2mcf and their five year plan to keep gas prices stable although there will be at least 5% more gas moving in the piplines during the next two years I stopped believing fairy tales a long time ago. If CHK is so hot why have they laid off huge chunks of this deal to others? Yes, they have tried to corner the tubular market, but that is a two way street. CHK has to hype the play and price of NG because the alternative will force them into bankruptcy overnight. Remember this about CHK. They are taking enormous risks..risks few other oil companies will take. But IndyMac was a bank that took enormous risks...risks few other banks took...and the FDIC closed their doors last month..gone because IndyMac believed that real estate prices never fall. Chk believes gas prices will never fall. If they are right, they will do well. Surviviorship is no way to judge how "good" a company is.
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Permalink Reply by Gone Fishin on
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If you listened to the conference you hear the cpk's ceo say that their cost on this particular play is around $2. per thousand scf and it is selling for what... way more than that. and that it is cheaper to produce in the haynesville play than conventional gas plays. So the conventional plays will go before this one. If it is cheaper to get here then why not get it here. I suppose all that stuff we keep hearing about the energy crunch is all baloney. Guess I'll ask santa clause for a fill up on my truck for less than $100. while im at it .
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Permalink Reply by po boy on
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Convert your truck to natural gas and help get the market price back up! LOL! Then you can fill your truck up for $30.
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Permalink Reply by Gone Fishin on
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Hey you know, thats a good point. I know you can add a clause to the lease that gives you a line to your home for personal use. I wonder if you could also use it for your vehicle too. If so you might just have all the neighbors comming by to fill up while you werent looking. lol
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Permalink Reply by M. Mcwilliams on
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The personal use of gas from a well or pipeline isn't permitted any more. It's not too safe, I suppose. I don't know exactly when that was stopped. I remember it as recently as the mid-1980s.
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