Oil & gas discussion group for those interested in Barnett Shale. Share your experience regarding lease bonus, royalty rates, drilling activity, and oil & gas news.
Does anyone know of activity in Cooke county? Thanks
I recently got a request from a geophysical physical company to conduct a 3D seismic operationto on my 40 acre land in Culberson County. Need guidance and directions from this knowledgeable group. I have being following your forums and like the honesty and cohesiveness of the groups.
Can anyone tell me where is the best place to find out if we own mineral interest in Parker County?
Thank you Cliff Williams. We have some correspondence from a major oil and gas company that names the well and it's description.
Are royalty checks being issued for the Pleasant Ridge Well site in Arlington? Pleasant Ridge belongs to the Lake Arlington collection of wells.
Denton County has sent me a Notice Of Appraised Value for my mineral rights. Based on the revenue I received for the past 12 months, the appraised value of $13,920 is 39% higher than my royalty revenue. With gas prices declining or constantly changing, how can the county access a tax rate? I was sent a Property Appraisal-Notice of Protest and would appreciate feedback, that if I protest on the grounds of "over market value", what I should submit as far as documentation?
Appraised value is based on an estimate of the present value of future production. Does not directly correlate to last year's royalties, but it is affected by historic production volumes and commodity prices. Your situation is not particularly surprising, given that much of the Barnett is young in its production cycle. I think one way to challenge it would be on the basis of future natural gas prices. Get the next ten years of NYMEX prices. If lower than the prices Denton County used in their appraisals, then you (and many other tax payers) may have a basis for challenging the current year tax appraisal.
Thank you. I will research the NYMEX prices and post the information for all to see.
After requesting and receiving documentation on how the appraisal is calculated from Wardlaw Appraisal Group in San Antonio and researching the historic and future projection prices for natural gas, I have been able to validate the pricing of the natural gas used in my appraisal. This and much more information is available on the US Energy Information web site ( http://126.96.36.199/naturalgas/monthly/ ). Now is the hard part, sifting through the convoluted math of how they calculate the production numbers, if MCF or BTU's are used for pricing the gas, escalation rates and on and on! Just like a phone bill, there are so many twists and turns of this fee and that fee, I'm not sure I'll figure it out but I am going to give it my best shot. To be continued.
If someone Could please advice me on how I could get a lease on my mineral rights in Pecos/Toyah area in Reeves county , I would appreciate very much
RE: Pleasant Ridge Well 2H, Arlington, TX
First royalty payment.
On August 2, 2012, Chesapeake contacted us by mail to inform us that they were ready to issue our first royalty check from the referenced well. But of course there was a catch. The correspondence included several items that we needed to complete and return with notarized signatures of all interested parties on each document. We had no problem until we reached the last required item - it involved obtaining just a smidgen of professional behavior from Chase Bank. We should have known better but off we went, and of course Chase immediately shut us down. So here we are, Chase has its boot on our necks (not really, it just feels that way) - no reason to give all of the gory details, but for now at least, Chase wants an advance payment of $300.00 before they will even check to see if we can pursue the matter with them. Then after much time has elapsed, they will let us know something. Of course no matter the outcome, they get to keep the $300.00. Is there a way out of this nightmare, or do we just kiss the royalties goodbye? Any help at all will be greatly appreciated.
Alex, I would just re-finance with another company who is willing to sign the Subordination.
Sorry, not understanding why you have to get something signed by Chase to get a royalty check issued. Are your mineral rights pledgedon a loan to Chase or a mortgage on the surface?
My thanks to the creator of the Mineral Rights Forum and to the founder of this group. The two responses I received to my post were right on point. My wife and I are both retired and we are living on a fixed income, so the prospect of 3% interest from Chase seemed to be an easy decision. We have regretted that decision from the onset of the application and approval process. Initially, we didn’t understand that in essence we were obtaining a Fed. Gov. Loan with Chase acting as the middleman. At this point, we just don’t have the energy to go through this process again. Maybe we can hire someone to assist us with this process.
Dealing with this arrangement of Chase Bank and the Federal Gov. has been a nightmare. Now we face the same dual front again. We called Chase and eventually we were referred to their insubordination department. We didn’t know there was such an entity. The Chase representative was rude and deliberately obtuse. She Chase would check it out. The upshot was that she made the situation quite clear (on this issue at least), we didn’t have to use Chase; they were just an agent for the Gov. We could pay the Chase insubordination unit $300.00 to research our standing and determine the official position regarding the signature. She assured me that the $300.00 was not refundable, even if they failed to get the signature.
I apologize for letting this post run so long. My plan now is to research our loan papers and try to answer Mr. Caldwell’s questions. I will post the information when I find it.
Thanks again for these posts.
Alex, I own a lot of properties in Tarrant County. I have received a lot of requests for subordination agreements from Chesapeake. Rather than spend hundreds (or thousands) of dollars trying to get subordination agreements signed by my lenders, I simply sign the exemption form that accompanies the subordination agreement from Chesapeake and send that back. I have never not gotten my property into pay status going this route.
Mr. Loren, thanks for your comment to my post. I appreciate your taking the time to respond. I readily admit my novice rank in this discussion. Your method sounds good to me, I guess your response confirms success in obtaining royalty payments. Thanks again for your help.
Greetings all! Does anyone have information on what royalties are being paid in Parker County? We have an offer for $700/acre and 1/8th royalty. I am thinking this offer is low, but wanted to check and see what others were seeing.