Replies to This Discussion

Permalink Reply by David on October 8, 2009 at 16:11

May I make a suggestion, not knowing anything about your situation other than what you posted?

If it were better to go unleased, wouldn't everyone be doing this? There is a reason people enter into a lease agreement with a specified royalty amount. If you have 10 acres, you are turning down $80,000.

Couple of links here and here may help.

I would also suggest, strongly, that you talk with an Oil & Gas attorney about your options. The money you spend for the attorney may be the best investment you could make now.

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Permalink Reply by BirdDawg, plain ole' idiot on October 8, 2009 at 16:14

I thought you said you got your first ULMI check. Apparently not.
Please let everyone know your section-township-range. maybe someone can help you with some info.

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Permalink Reply by Cheerleader on October 8, 2009 at 16:52

Jason,
Which company is offering you $8,000 an acre??? Chesapeake????

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Permalink Reply by jason on October 9, 2009 at 4:36

It is chesapeake, we are in a good spot. They acquired our section from empressa and we where the only people in the section that had a vertical pugh clause so our deep rights came back to us.They have 610 acres currntly under lease now and we are the only ones that are not leased. I think that is the reason that they are offering the 8,000 bonus money. This bonus money is nothing like last years but from what I can find out it is pretty good for this market.

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Permalink Reply by jason on October 9, 2009 at 1:27

bird dog if you are going to be a smart ass i dont need your help.

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Permalink Reply by BirdDawg, plain ole' idiot on October 9, 2009 at 1:36

Not hardly being a smart ass. I just read what you posted.

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Permalink Reply by jason on October 9, 2009 at 1:36

David,
Thanks for the links but these are more relatd to Texas and from what I understand Texas and Louisiana are two different animals. I have already sat down with a very good Oil and Gas attorney and he said that in our situation he would go unleased. I think that the reason that people are signing leases is because they are only looking at the bonus money and they are not doing thier homework on the math of going unleased. Financially I could use the bonus money on our 15 acres but I dont have to have it. What I am looking for is an unleased mineral interest owner out there who has went unleased in Louisiana and has started receiving revenues. I know that there are plenty of unleased working interest out there who have had trouble but the La law protects the unmi better than it does the working interest. Thanks again for the help.

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Permalink Reply by Spring Branch,mineral owner on October 9, 2009 at 1:51

Let me see if I understand this correctly. You paid for the advice of "very good" Oil and Gas Attorney, who advised that you remain an unleased mineral owner (I have no personal experience with a quality O & G Attorney recommend remaining unleased) but you are coming on this web site asking for folks who have went unleased so that you can get their free advice. Sounds to me like you don't trust your attorney.

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Permalink Reply by jason on October 9, 2009 at 4:16

I do trust my attorney but I still would like to hear it straight from the horses mouth. The attorney has been an oil and gas business for thirty years. He said in our unique situation that as long as I am ok with taking some of the gamble then he would recomeend going unleased. So your saying that I am only allowed to get one persons opinion? I want as many opinions as I can get. Other than my attorney I have not talked to anyone who has went through the process and I am curious to talk to them, Yes for free, to ask how their expierience has been. Isnt that what this blog is for is to help people that have questions or is it for people to shoot off useless commemts like yours. Your comment was of no help whatsoever.

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Permalink Reply by JHH on October 9, 2009 at 4:11

i'd also like to know what company is leasing for $8,000 an acre at 25%... please let the group know. thanks, jhh

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Permalink Reply by adubu on October 9, 2009 at 4:20

jason----one point to look at--are your minerals 100% under same tract of land or undivided interest in larger tract? If your minerals are undivided maybe going unleased may make sense, but if your minerals are 100% under your surface look at what EOG just did on the Hassel #1H and #2H in Nacgodoches County on a H well---they left a part of there lateral H leg without perf so as not to drain gas from the ULMI therefore eliminating there ULMI WI claim. You can download copy of plat on the RRC web site. So don't get landlocked and lose your royalty. CAUTION!! I would revisit with your attorney. Remember old saying "Bird in hand better than two in bush" Why roll the dice.

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Permalink Reply by jason on October 9, 2009 at 5:27

Thanks for this info. This would be one heck of a note if this happened. Our minerals are all under one 15 acre plot in one section. Thanks again for the advice, this is exactly the kind of stuff that I need to be aware of.

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