Has anyone received any lease offers in Amite County? If so could you provide the terms and leasee info?
We received a dear mineral owner blanket letter last summer. It wasn't an offer, but the sender, Chavin (Landmen I imagine) indicated they wanted to buy any and all mineral rights. Our local area lawyer recommended we ignore it and we have.
I sent letters to Denbury/Encana, Goodrich, Indigo and one other asking if they were interested in leasing our 800 gross, 400 net acres for deep well exploration/production into the TMS. Heard back from Dunbery/Encana and Goodrich quickly asking for the legal descriptions. Sent that and actually talked on the phone to one of them. Nothing since. Last contact was before Christmas.
So, the answer to your question is, No offers - yet. I remain hopeful.
Gail Peck
Negociated a lease with PAR Minerals in Pike County before Christmas. $175 nma and 1/4 lease.
Thanks for the Pike lease info.
Does anyone have any information re the Encana permit pulled in Dec 2011 from the MS Oil and Gas Board for an oil well to @ 19,000 ft in Section 18 of Amite County?
Gail Peck
I think everyone received the "Chavin" fishing expedition letter. I threw mine in the trash. I am told by title abstractors at courthouse to just sit patiently. No offers yet, but I am hopeful. 180 acres in S12/13, T3N, R6E.
I have 168 acres in Wilkinson County in Sec 4, 5, and 8 T3N R1W. Crosby Lumber just signed a lease on 1000+acres in that area adjoining mine. Had a couple of ridiculous offers so far.
Bob
Our family JUST received another Chavin fishing letter last week. Same proposition. "Buy your rights, do all the paperwork, close quickly." We may answer by asking who they are representing and whether their interest includes a lease. We are not interested in selling. Or, we may ignore it. Family hasn't decided yet.
BTW MS Oil and Gas Board web site indicates Encana obtained 2 or 3 more permits for deep wells in Jan 12. Also, one from Griffen & Griffen.
I view these permits as interest in TML exploration and the drift in interest eastward from the TX/LA border area into the eastern LA and S MS area.
Anybody else have any more, especially SW Amite county?
Let's be patient and share info.
Thanks to Brian and Jan for their inputs.
Gail Peck
Be careful when you deal with G
Thanks Bob. Good to know.
Gail Peck
On Feb 7, 2012 I received an offer from KEW Drilling of Shreveport, LA. We own a portion of the mineral rights on several plots Northeast of Liberty, MS.
The terms are:
Bonus Consideration: $300 per acre.
Royalty of 1/5
Primary term of 3 years, two year option at $300 per acre.
We are new to all this (mineral rights inherited). A few questions for the group:
1. Does anyone have experience with KEW?
2. Are these terms high, low, reasonable?
3. We know we have mineral rights related to the properties they are looking at, but don't know what percentage of the rights we own. Is there an easy way to determine that?
4. The company says that others who own part of the rights on this property have already signed up (I plan to follow up with them). What happens if we dont sign up? Can they force us into the lease?
Thanks to all.
Will
No offers yet for me either.
Will,
I am fairly new to all of this, as wel,l having just taken over the family business from an elderly uncle.
I dunno about your questions 1 and 4.
Regarding question 2
I have a clipping from a newspaper with a picture of the Horseshoe Hill 10H being drilled by Encana in Wilkinson county, just west of Amite. The clipping cuts off some of the info on the newspaper but I think it is from Woodville, (probably MS) and it is described as Volume 187 USPS 462-260 in case you want to research it.
It is a deep well (13,200 ft which may be vertical plus horizontal). The newspaper said "Mineral leases have been bought on large tracts of land including a number on county school lands where the last round of leases went for $616/acre for at total lease offer of $2.4M."
A different web site reported that fracking is supposed to start at Horseshoe 10H in March 2010. And, the well drilling equipment has evidently been moved to the Anderson 17H site in Amite County. This is all according to a blog on the www.gohaynesvillshale.com/forum etc (Google to get the rest of the URL).
Regarding Question 3.
We have the same problem wherein our family owns 50% of an acreage and the rest is owned by a variety of different people with unknown married names, etc. I am told that the Landmen will research the legals at the courhouse as a part of their due diligence in their contract preparation. I think the important thing is to "get your oar" in the water. By that I mean be sure they know how to find you and that you are an owner. It is my belief that they go to the courthouse, research the records and go fishing by sending out these letters. Just my 2 cents opinion.
Good luck and keep the info flowing. I still have not heard back from Goodrich or Encana/Dunbury.
gail peck
Robert E. Buie said:
Be careful when you deal with G
Mr B,
Is your reference to Griffen and Griffen or Goodrich or other?
Thanks,
gail
I am sure they have checked the records at the courthouse, and probably have a copy of what document sets out the mineral rights ownership. Ask to see what they have. From what I hear $300 an acre is average at this point. I think the drilling company is exactly who you need to do business with.
Will Latham said:
On Feb 7, 2012 I received an offer from KEW Drilling of Shreveport, LA. We own a portion of the mineral rights on several plots Northeast of Liberty, MS.
The terms are:
Bonus Consideration: $300 per acre.
Royalty of 1/5
Primary term of 3 years, two year option at $300 per acre.
We are new to all this (mineral rights inherited). A few questions for the group:
1. Does anyone have experience with KEW?
2. Are these terms high, low, reasonable?
3. We know we have mineral rights related to the properties they are looking at, but don't know what percentage of the rights we own. Is there an easy way to determine that?
4. The company says that others who own part of the rights on this property have already signed up (I plan to follow up with them). What happens if we dont sign up? Can they force us into the lease?
Thanks to all.
Will
Hi Gail,
Griffen.
Is there anybody dealing with Goodrich. Need their email address...
Thanks,
Bob Buie Sr
Robert E. Buie said:
Hi Gail,
Griffen.
Thanks
Gail,
I think my email is echoing?! LOL!
Bob
Bob,
I sent an email to: landinquiries@goodrichpetroleum.com and got a reply from a landman named Chris Roy.
Nothing has come of it at this point but at least I got a reply.
gail
Robert E. Buie said:
Is there anybody dealing with Goodrich. Need their email address...
Thanks,
Bob Buie Sr
My fault. I hit reply twice. Thought I'd erased one. So it goes.
gail
Robert E. Buie said:
Gail,
I think my email is echoing?! LOL!
Bob