I own some minteral rights in Panola County and the lease is owned by EOG. They have only drilled one well and tell me they own the rights to drill for the Haynesville Shale. I have 2 questions: 1)what is the best way for me to find out their production/development plans? 2) I did receive another check from Chesapeake on the same lease for 5 wells (I guess this is a sub-lease) and now it comes in from Indigo . Did they sell to Indigo and if so shouldn’t they have sent me something about this so that I am kept informed?
Hi, Donna…if you don’t mind my asking, how much did you lease to Chesapeake for per acre? I ask because I just reviewed an article on them where their CEO said that up until last year, Chesapeake was paying from $5,700 up to $6,500 per net mineral acre. As of March 17 of this year, they have downgraded payment to $5,000 per net mineral acre.
In advance, thank you.
Kenny Love
The Haynesville Shale is located in and around Shreveport, Louisiana and parts of east Texas. I worked for Chesapeake as a landman and paid as much as $18,000.00/acre for a three year lease and 25% royalty. However, when I left the area the going rate was $1,000.00/acre and now there is no leasing activity there at all. The companies are drilling as much as possible to hold the position they acquired.
We were never paid anything per acre by Chesapeake (now paid by Indigo). We were sent a division order to sign that stated our mineral interest in the 618.25 acre unit of which we owned 55 acres (they only show 50 but we pay taxes on 55). The DO stated that it did not amend any lease or operating agreement between the interest owners and the lessee or operator. When we purchased the land in 2003, we bought it with mineral rights and the only well on the whole 618.25 acre unit was EOG’s Well No. 1 on our property. It was not until 2008 that Chesapeake came into play. Other than our interest percentage, we personally were never paid anything else. Thank you for your reply, Donna
Kenny Love said:
Hi, Donna…if you don’t mind my asking, how much did you lease to Chesapeake for per acre? I ask because I just reviewed an article on them where their CEO said that up until last year, Chesapeake was paying from $5,700 up to $6,500 per net mineral acre. As of March 17 of this year, they have downgraded payment to $5,000 per net mineral acre.
In advance, thank you.
Kenny Love
My interest is in the Panola County, Beckville, Texas, area and the land was purchased in 2003 with mineral interest and an existing lease with EOG. Thank you for your reply. Donna
W. Howard Pritchartt III said:
The Haynesville Shale is located in and around Shreveport, Louisiana and parts of east Texas. I worked for Chesapeake as a landman and paid as much as $18,000.00/acre for a three year lease and 25% royalty. However, when I left the area the going rate was $1,000.00/acre and now there is no leasing activity there at all. The companies are drilling as much as possible to hold the position they acquired.
Thank you,
kl
Donna Y said:
We were never paid anything per acre by Chesapeake (now paid by Indigo). We were sent a division order to sign that stated our mineral interest in the 618.25 acre unit of which we owned 55 acres (they only show 50 but we pay taxes on 55). The DO stated that it did not amend any lease or operating agreement between the interest owners and the lessee or operator. When we purchased the land in 2003, we bought it with mineral rights and the only well on the whole 618.25 acre unit was EOG’s Well No. 1 on our property. It was not until 2008 that Chesapeake came into play. Other than our interest percentage, we personally were never paid anything else. Thank you for your reply, Donna
Kenny Love said:Hi, Donna…if you don’t mind my asking, how much did you lease to Chesapeake for per acre? I ask because I just reviewed an article on them where their CEO said that up until last year, Chesapeake was paying from $5,700 up to $6,500 per net mineral acre. As of March 17 of this year, they have downgraded payment to $5,000 per net mineral acre.
In advance, thank you.
Kenny Love