I own 10 Acres in Atascosa County. I was just contacted by a Oil Landman in regards to me leasing the property. I do not understand any of this. I do not know what to do.Can anyone give me some pointers? I am really confused about it all.
If you were contacted by a land man you most likely own the mineral rights(for oil and gas located below your propery). Atascosa county is a pretty hot location in the Eagle Ford Shale. Your property might be located in an area, that along with your surrounding neighbors property may be desireable as a potential drilling site, or as part of a “pool”(smaller acreage lumped together to form a production unit. The land man is interested in leasing the right to drill and produce the minerals located under your property for a certain length of time. They are not getting your land, just the right to drill and produce a well. As compensation, they will pay you a price per acre that will be good for 1,2,3 years, etc. As part of that lease it will provide for a payment to you in the form of a royalty should they decide to drill and produce an oil/gas well. The royalty is a percentage of what they sell the oil/gas for from that wells. See what they offer and consult with some neighbors to see what they are being/have been offered
I have been waiting and waiting for someone to reply to my question. I really appreciate that you did, and you have given me great answers. I appreciate you help.
Just curious, what area of Atascosa county are you located? What was your offer?
Karen,
i think i'm in the same situation that you are, we were contacted by EOG about our 10 acres in Christine but was told by our lawyer that it was not a fair price we're currently waiting to see if they at least give us the fair rate. where is your trac located because it sounds like it's around the same area as ours. and if your contacted by Global Frac, LLC by all means do more homework on them because i've heard nothing but bad things about them. i'm still researching them and not finding a whole lot.
I am glad to finally get some replies to my questions. I have news that I believe will help you as I just signed a lease for my land in Atascosa County. The 10 acres I have are on SS Tract 1073 . It is close to County Road 424 and County road 427 and 428. I also have a 1 acre lot in Christine. My landman is checking on that for me today. If you want to let me know what they offered for your 10 acres I will help you with comparisons. I am contracted with EOG as of today. Mine is in the Eagle Ford Shale.
J said:
Just curious, what area of Atascosa county are you located? What was your offer?
Hi. My 10 acres are in Atascosa in the Eagle Ford Shale. I signed on with EOG today. I feel I got a very fair deal and I did alot of checking first. Do you have land near me and have you signed yet?
Haven't signed yet..... I think my land may be close to yours.
Do you have one of those 10 acre lots that shows on the map? My 10 acres in close to Jourdanton by the W.S. Nelson ranch, kinda in the middle. I did sign today. I did quite a bit of research and finally decided to sign. Why not? My landman says they are getting ready to drill big time in that area and that we should see some pretty good royalties. I signed on with EOG Resources. What kind of offers have you found? I can let you know what I got if it helps you.
sent you message
Thank you. Got it... sent reply.
reply didn't come through
Test. Did you get this. I will send you a reply tonight. I have to go to work right now. Talk to you soon
didn't get get it.
We have tract 1375 10ac. We got $1250/ac bonus and 25% royalty.
Who did you lease to Greg? How far south of Jourdanton is your property located? Thanks
We leased to EOG. The property is just past Christine to left about 1/2 mile.
Hey J. No it wasn't Greg. It was Chris Sutton and you can contact him through email it's PCsutton@msn.com. You should contact him he is really nice and I feel I got a great sign on offer.
J said:
Who did you lease to Greg? How far south of Jourdanton is your property located? Thanks