Replies to This Discussion

Permalink Reply by DrWAVeSport Cd1 on August 14, 2008 at 9:35

ETOilman,

I agree...One just has to decide what one is willing to live with for one's lifetime...

P.S. I have turned down a half dozen offers...And, they still keep getting better...

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Permalink Reply by Greedy Landowner on August 14, 2008 at 10:48

My "tipping point" is 30k, and yes I would not sign for 25k with 100 acres.

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Permalink Reply by Gone Fishin on August 14, 2008 at 11:00

I might sign for that "If" the royalty was higer than 25%. Heck I might hook up to that rig like a trailer and tow it on over to my place if they offered 75%
lol

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Permalink Reply by ETOilman on August 14, 2008 at 11:01

Unbelievable. Your land and minerals to do with as you please.

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Permalink Reply by Carter on August 14, 2008 at 14:41

Alas, herein lies the problem. An unmitigated level of greed has consumed NW LA. Lest I be accused of taking pot shots, allow me to point out that many parts of Shelby County are more East than some Sections in 11N 15W and 11N 16W in Desoto. And they are going at 1/3 of the price!

The whinny crescendo of individuals harping "but we just want to be treated fairly" while holding out for a $30K/28% deal, makes me nauseous. Reminds me of that Childcraft Book story where the fisherman catches a flounder who grants him wishes in return for release. In the beginning the fisherman lives in a hovel and his wife pesters him to keep asking for more favors/titles/riches until he ends up...... You guessed it. Classic.

The companies should pull out of NW LA and concentrate on East TX at $3-$5K until prices consolidate. But they can't and won't do it now because its gotten too big, and the promote on it is too much, and PXP and others have bought in at 30K, and in THEIR GREED, worry that somebody else would move in. The bungled effort stemmed from companies who allowed brokers to dictate bonus price without checks and balances. 22 year old kids at $175/day playing with Monopoly money. As a HK shareholder, I shiver at the sheer waste of capital squandered by the failure to control bonuses in NW LA. I would have jettisoned the lease play in the urban areas of S'port/Bossier long ago. I'll bet you the brokerage tab alone runs into millions per month.

I'm letting our stuff go at 5K and a 1/4, like any reasonable businessman, I'll take a good profit and go on with it. As to the acreage that is presently leased and won't come open for a year, the greed will either make us rich later, or like the fisherman in the story, we could be back to $125 and 1/6th.

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Permalink Reply by Ringgold Redskin on August 14, 2008 at 15:43

Thanks for the spanking!!!!!!!
Like you stated ...you are in Texas and not NW Louisiana. For the record....an acre of the Haynesville shale in NW Louisiana has what? 3 or 4 times the reserve of the Barnett Shale around Fort Worth. If NW Louisiana's leases are so overpriced why is leasing In Barnett at a higher bonus today? and has from the start? Oh!! it is in Texas? The Haynesville should be leasing from 2 to 4 times the Ft. Worth shale. Its not greed..its market value! Look at the info on the wells they have completed , they are worth a lot more than $100.-200. and acre and 1/8 -3/16 they were offer/paying for the last three years. O&G will make a fortune on the Haynesville without the landowners giving them their share.
You read the blogs .... no owner knew what value their land held. Besides... if the shale in east Texas was so hot ...they would give out the higher bonuses there too. This is a once in a lifetime gift for us and I will be one of the greedy holdouts.

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Permalink Reply by Dion Warr, CPL on August 15, 2008 at 4:24

Redskin:

Not to come across as if I am giving you a geology lesson, but the HS doesn't magically transform into Barnett at the TX line, just like oil and gas doesn't grow in squares and rectangles under the ground.

To be fair, Carter, LA does not have the same regulatory methods to punish holdout landowners like Texas does (e.g. drawing units around unleased landowners and/or overburdened leases.) Built into some of the multiple of bonus that you're witnessing is probably the fact that units up in NW LA are geographic, and it is harder to cut someone out of a unit.

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Permalink Reply by Ringgold Redskin on August 15, 2008 at 11:06

I don't need a geology lesson but you need to learn how to read! as in Barnett shale in and around Ft. Worth. I don't think this indicates the Tx and La. line.

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Permalink Reply by Snake Stewart on August 14, 2008 at 15:51

Greed hasn't consumed me just yet. I will still go 259 lbs on the scales. HA! HA!

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Permalink Reply by Cathaus on August 14, 2008 at 15:58

Snake, is that with or without your size 53 jeans and red suspenders? Sorry, I just couldn't hold this one in! I just wanted to beat good ole Ed to the punch!!!

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Permalink Reply by Snake Stewart on August 14, 2008 at 17:18

Shame on you pouring all that salt all over my womb . I should have left my response to that post up for a little while longer so everybody could have seen it. Jesus already saw me write it so I shoulda just left it up there. Nah , that was too ugly, what I wrote.

Besides me and ole Ed kinda buried the hatchet so to speak. He wasn't even screaming at me.Sounds like a rather intelligent fellow when his teeth ain't clenched.

Hey Cathaus , while your at it, don't forget the gravy and them pork chop side burns ! HA!HA!

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Permalink Reply by Cathaus on August 14, 2008 at 17:20

You are a treasure, with or without the gravy and pork chop sideburns!

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