Replies to This Discussion

Permalink Reply by Checkmateking on August 11, 2009 at 6:38

They released the lease-they did not re-lease it.

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Permalink Reply by E & E on August 11, 2009 at 5:09

Skip,
I thought I would play with this map today in hopes that it will help some members get a better idea where these releases happened. I have colored in the sections that were released. I do not have the exact acreage for each so it is just showing the full section. I'm with you on that this will be a concern for some of the ghs members especially those with minerals in these sections and even surrounding sections. Thanks for posting this information. Always interesting....notice that I-20 is in the corner of this map.

Another note this well is in the NE Corner of Sec 7 right above 18:
238043 HA RA SUB;P SHARP III 7-18-15H
700' FNL & 680' FWL OF SEC 7.
COMPLETED 1-26-09; GAS; HAYNESVILLE RA; 4894 MCFD; 22/64 CHOKE; 2616# CP; PERFS 10,970-15,642'MD; 10,870-10,981' TVD


Earlene the barefooted UMO

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Permalink Reply by SharonB T18N R15W S8 on August 12, 2009 at 3:29

Thanks for the map and the info. I'm a barefooted UMO in section 8 barely shown on this map above S17. I don't know what to make of this news, but I'm still hopeful that I will fare well in this play eventually. I was a hold out before I even knew 95% of my section was leased. My offers never matched what was being paid to brokers and others in my area, including the state leases that were let go. I wish they had offered me the 14,500 they paid the state and then let go. I'm hopeful that since Winchester/EXCO/BG seems to be a major player in my section, maybe this means little to me.

BTW - I find the play on words here interesting - that is the English language is funny - we say they leased from the State, but when we say they released it - we mean they let it go instead of re-doing the lease. funny. I wish they had re-leased the land instead of releasing it.

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Permalink Reply by Skip Peel - Mineral Consultant on August 12, 2009 at 3:36

Sharon. Combine the information in this topic with the one on SWEPI assigning leases to CHK in DeSoto Parish and it would appear to be a logical conclusion that CHK has made the decision to spend more of their development dollars down south. This part of the play will get picked up by other operators. EXCO would suit me fine.

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Permalink Reply by alleyboy on August 12, 2009 at 4:15

skip,
I am in 17n15w002 and back in august of o8 chk was leasing mine and many acreages for 17,500.00. Whether they release or re-lease is of no major concern to me as we have already gotten much more than we would in ten years of drillinig if we had leASED for 200.00 per acre. Thanks for all your pertinent info muchly informative

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Permalink Reply by Spring Branch,mineral owner on August 12, 2009 at 4:18

These sections around Cross Lake, though edgy, are clearly Haynesville prospective. If I were CHK I would have released them also rather that pay delay rentals equivalent to 100% of the lease bonus over the next 2 years, which would equate to another $28+million over the next two years. If another operator doesn't pick up the leases, CHK can probably come back in two years, after drilling other more promising sections, and re-lease (lease again) these sections for a fraction of the delay rental burden. They seem certainly willing to take that chance.

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Permalink Reply by Skip Peel - Mineral Consultant on August 12, 2009 at 4:26

Good point, SB.

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Permalink Reply by The_Baron on August 12, 2009 at 5:33

They may be willing to try to bid again sooner, we will have to watch the lease sales. With the goig rate only a fraction of what it was before, they may be hoping to just pick up these tracts a lower price.

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Permalink Reply by Spring Branch,mineral owner on August 12, 2009 at 5:53

That would not surprise me.

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Permalink Reply by SharonB T18N R15W S8 on August 12, 2009 at 11:55

You know - I think you've got it ol' chap!

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Permalink Reply by J W on August 12, 2009 at 14:13

i lease with chk about 14 month ago. so if petrohawk drills in my sec is my lease with chk still good? im in 18n nere cross lake. its a 3 year lease.

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Permalink Reply by Skip Peel - Mineral Consultant on August 12, 2009 at 14:21

JW. The terms of your lease apply no matter which operator drills the well(s) in your section.

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