I just spoke to Brent at the RRC like you advised, and he was fantastic. Helped me at least somewhat find the property where our mineral rights are located. I think we are probably pooled with many, many others into one big lease… but still checking into that. Am calling an attorney who is a friend of my husband's cousin, who helped him with his lease in La Salle County, but it may be better to use one who is in the Fayette County area. Turns out our property is in Cistern Quadrant, abstract A-40, next to Muldoon (yours is A-74?). But specifics still a bit elusive… The landman who first contacted us offered 3/16 royalty and $1200 flat signing bonus ($40/acre), but it appears that is ridiculous. I think we should at least get $500/acre (we have 30 acres), and he did come up to a 20% royalty when speaking to my brother. Am about to call the attorney now… Thanks again so much. Sorry for your 75% loss that first time around, but appreciate your sharing that learning experience with us "greenhorns."
Kraut said:
Yes I am. Although I haven't seen any results yet, he was highly recommended. The negotiating process is on-going. Good luck. Let me know if you have any problems at the RRC.
Kathleen Bernice Doneghy Henckel said:
Thank you so much. My brother and sister have been reluctant to notify an attorney, but this just affirms what I was thinking/feeling. I will call Brent and appreciate your info so much. Are you using that attorney in Flatonia I saw in some earlier comments on this forum?
Like I said in a previous post, the company that the landman was working with offered me $7,000+ to sign. I told them to call my attorney and a couple of hours later they offered me $9,000+ to sign. Again, call my attorney. Haven't heard from them since. Do you have a number where you can be reached? Or an email address? Make me a friend and I'll send you a message that only we can see.
Kathleen Bernice Doneghy Henckel said:
I just spoke to Brent at the RRC like you advised, and he was fantastic. Helped me at least somewhat find the property where our mineral rights are located. I think we are probably pooled with many, many others into one big lease… but still checking into that. Am calling an attorney who is a friend of my husband's cousin, who helped him with his lease in La Salle County, but it may be better to use one who is in the Fayette County area. Turns out our property is in Cistern Quadrant, abstract A-40, next to Muldoon (yours is A-74?). But specifics still a bit elusive… The landman who first contacted us offered 3/16 royalty and $1200 flat signing bonus ($40/acre), but it appears that is ridiculous. I think we should at least get $500/acre (we have 30 acres), and he did come up to a 20% royalty when speaking to my brother. Am about to call the attorney now… Thanks again so much. Sorry for your 75% loss that first time around, but appreciate your sharing that learning experience with us "greenhorns."
Kraut said:
Yes I am. Although I haven't seen any results yet, he was highly recommended. The negotiating process is on-going. Good luck. Let me know if you have any problems at the RRC.
Kathleen Bernice Doneghy Henckel said:
Thank you so much. My brother and sister have been reluctant to notify an attorney, but this just affirms what I was thinking/feeling. I will call Brent and appreciate your info so much. Are you using that attorney in Flatonia I saw in some earlier comments on this forum?
Like I said in a previous post, the company that the landman was working with offered me $7,000+ to sign. I told them to call my attorney and a couple of hours later they offered me $9,000+ to sign. Again, call my attorney. Haven't heard from them since. Do you have a number where you can be reached? Or an email address? Make me a friend and I'll send you a message that only we can see.
Kathleen Bernice Doneghy Henckel said:
I just spoke to Brent at the RRC like you advised, and he was fantastic. Helped me at least somewhat find the property where our mineral rights are located. I think we are probably pooled with many, many others into one big lease… but still checking into that. Am calling an attorney who is a friend of my husband's cousin, who helped him with his lease in La Salle County, but it may be better to use one who is in the Fayette County area. Turns out our property is in Cistern Quadrant, abstract A-40, next to Muldoon (yours is A-74?). But specifics still a bit elusive… The landman who first contacted us offered 3/16 royalty and $1200 flat signing bonus ($40/acre), but it appears that is ridiculous. I think we should at least get $500/acre (we have 30 acres), and he did come up to a 20% royalty when speaking to my brother. Am about to call the attorney now… Thanks again so much. Sorry for your 75% loss that first time around, but appreciate your sharing that learning experience with us "greenhorns."
Kraut said:
Yes I am. Although I haven't seen any results yet, he was highly recommended. The negotiating process is on-going. Good luck. Let me know if you have any problems at the RRC.
Kathleen Bernice Doneghy Henckel said:
Thank you so much. My brother and sister have been reluctant to notify an attorney, but this just affirms what I was thinking/feeling. I will call Brent and appreciate your info so much. Are you using that attorney in Flatonia I saw in some earlier comments on this forum?
Please clutter up this blog, instead of going off. I and
am guessing others, are very interested in this subject. Want to learn everything I can.
Bigfoot said:
I'm not sure what's going on with the forum reply box; but, it has all kinds of extra writing so this might not come through. I just sent you a Friend request. If you answer me back as a friend, we can discuss some of this stuff without cluttering up the blog.
Al Wenkebach Jr said:
Great. I should know more tomorrow. I also would like to know the going amount of the signing bonuses in this area. It is going to be an Austin Chaulk well.
Bigfoot said:
I'm local, so I will do my best to follow up once you locate this mysterious location.
Al Wenkebach Jr said:
I'm not sure yet. I was contacted by a landman just this afternoon. I'm now living in Arkansas so I'll have to do my research tomorrow by PC and phone.I'm local
I turned over a lease agreement last June to an attorney to handle the negotiations. It still has not been sent to us for review. Although he said that he had it in hand. Is it typical for negotiations to take so long. Also, I have a heck of a time getting the lawyer to return emails or phone calls. Is this also typical? It's been almost three months and I'm getting very concerned as to what is going on. Do I have reason to be?
Kraut, I don't consider 3 months to be a long time. I have spoken to and received lease offers from a company for up to 3 years. I would say to have patience. If you wanted to reach an agreement faster, you should bone up on how to negotiate a good lease yourself and get advice from an attorney. When you put the negotiation into the hands of the attorney, the attorney may not even contact the potential lessee for a month, the timetable is no longer yours. Waiting and not showing interest is a legitimate bargaining tactic, that your lawyer may be employing. I think you should keep trying to contact your attorney until you get in contact with him, ask what is going on and decide what you need to do based on what he tells you. I would rather have a mineral manager negotiate a lease, I believe they would actively negotiate and probably have negotiated more leases than most lawyers. Good luck with your decision.
Kraut said:
I turned over a lease agreement last June to an attorney to handle the negotiations. It still has not been sent to us for review. Although he said that he had it in hand. Is it typical for negotiations to take so long. Also, I have a heck of a time getting the lawyer to return emails or phone calls. Is this also typical? It's been almost three months and I'm getting very concerned as to what is going on. Do I have reason to be?
Kraut, unless you have alot of net acres I do not recommend you studying to the point you become a professional, but I do recommend that you study enough so you know what questions to ask your attorney. I know how hard it can be to get an attorney on the phone so make it count. Where it says mineral help at the top of the page is a good place to start.
I understand your concern and the attorney you are using is a busy fellar and he doesn't do anything very quickly since he is basically the only show in town. He does a great job of putting together a lease and I know of a couple of people that has had him negotiate for them as well. Usually, the negotiations part is pretty much cut and dried since most of the leases for Denali have gone through his hands anyway at some point. If your operator is wanting to stake a well and place you in a pool, I would make an urgent message to him stating the fact. Otherwise, there probably isn't a big hurry, although, I would have concerns as well since it has been three months.
Kraut said:
I turned over a lease agreement last June to an attorney to handle the negotiations. It still has not been sent to us for review. Although he said that he had it in hand. Is it typical for negotiations to take so long. Also, I have a heck of a time getting the lawyer to return emails or phone calls. Is this also typical? It's been almost three months and I'm getting very concerned as to what is going on. Do I have reason to be?
Thanks Bigfoot. I have heard no mention of a stake or of a pool.
Bigfoot said:
Kraut:
I understand your concern and the attorney you are using is a busy fellar and he doesn't do anything very quickly since he is basically the only show in town. He does a great job of putting together a lease and I know of a couple of people that has had him negotiate for them as well. Usually, the negotiations part is pretty much cut and dried since most of the leases for Denali have gone through his hands anyway at some point. If your operator is wanting to stake a well and place you in a pool, I would make an urgent message to him stating the fact. Otherwise, there probably isn't a big hurry, although, I would have concerns as well since it has been three months.
Kraut said:
I turned over a lease agreement last June to an attorney to handle the negotiations. It still has not been sent to us for review. Although he said that he had it in hand. Is it typical for negotiations to take so long. Also, I have a heck of a time getting the lawyer to return emails or phone calls. Is this also typical? It's been almost three months and I'm getting very concerned as to what is going on. Do I have reason to be?
I received an email from the attorney and he said that Denali sold to another company, also a different landman. I am assuming that he meant that they sold the lease because he then said that Denali will pay $400 dollars per mineral acre. I still do not know how many mineral acres I have or what my percentage is. He had to update the lease agreement to reflect the sale. That's why it was taking so long. The lease agreement is in the mail.
Thanks for the information and keep us informed. I wonder if Denali actually sold to another company or they just sold some of the leases to another company. Please let us know the particulars of how many years and the actual bonus if it is differnet that stated above.
Thanks again, this is good information to share so we can stay informed.
Kraut said:
I received an email from the attorney and he said that Denali sold to another company, also a different landman. I am assuming that he meant that they sold the lease because he then said that Denali will pay $400 dollars per mineral acre. I still do not know how many mineral acres I have or what my percentage is. He had to update the lease agreement to reflect the sale. That's why it was taking so long. The lease agreement is in the mail.
The $400 per mineral acre is still holding but we have hit a snag on the number of mineral acres. We keep getting conflicting numbers. This is becoming a major issue. Also, the lease agreement gives the oil company the right to go to the center of the earth with a well, if they so wish. It is a 3 year lease. Stay tuned.
Thanks for the update and I hope they get the acres issues settled. It is interesting why that would even be an issue. With this said, a friend that has property on the South Side of the Reimers place called to give me the latest poop and said that Sanchez leasing activity has moved our way and is in the process of leasing or attempting to lease mineral acres in the Muldoon area and that they are back in the real offer game. He said they are still offering $1200/ acre. This is just word of mouth from one mineral owner to another and I have no idea about lease provisions at this point. As I understand, Denali's original offers were to drill to or into the Chalk and no deeper leaving that open to the mineral owner for later lease. Then when they got to the signing table they hedged and said they wanted the right to drill any depth. There is a considerable difference in the dollar amount Denali, Clayton Williams and others are offering (initially for the chalk only) than what any of the 2010-2011 offers were. If you have a limited number of acres and not even sure how many acres are there, you may not have a choice; but, this is just food for thought.
Thanks again for keeping us posted.
Kraut said:
The $400 per mineral acre is still holding but we have hit a snag on the number of mineral acres. We keep getting conflicting numbers. This is becoming a major issue. Also, the lease agreement gives the oil company the right to go to the center of the earth with a well, if they so wish. It is a 3 year lease. Stay tuned.
$400 dollars an acre for 8+ mineral acres. Not what I was hoping for but better than nothing. I'm just glad it's over, for now. Drill, drill,drill..............show me the money!!!!! :)
Glad they got it settled and you got got your money. The $400 is probably pretty good considering that they will more than likely put these acres in a pool at some point. Did you ever find out exactly where the acres are located? I know you had some information; but, I don't believe you ever told us exactly where it is located. Do you know who owns the surface acres? If you know that or can find that out, we can fine tune exactly where it is.
Thanks for the update.
Kraut said:
$400 dollars an acre for 8+ mineral acres. Not what I was hoping for but better than nothing. I'm just glad it's over, for now. Drill, drill,drill..............show me the money!!!!! :)
Sorry it took me so long to reply. There's been a lot happening up here in Arkansas.
This is a quote off of the Gas and Mineral lease. I hope it narrows things down a little as to location.
"267.2 acres of land, more or less, situated in the M, Muldoon league No. 6, Abstract 74, Fayette County Texas and being the land set aside to Sam Hopper in Cause No. 8802, styled Mrs. Ella Ivy, Et Al Sam Hopper, in the Distric Court of Fayette County, Texas dated May 22, 1945 and recorded in Volume 207, at Page 120 of the Deed Records of Fayette County Texas."
Two permits to drill were obtained by oil companies. One for the Kelly Unit 1H and one for the Ivy Unit 2H. Both in the M. Muldoon Abstract 74. Is there any information on these? Have they been drilled and, if so, what was the outcome? Thanks, Kraut.
Hope this link will work. I tried it on my e-mail first and it did work; but, if it didn't just search the RRC-W1 reports for Argent, Fayette County beginning on January of 2013 up to now. Both wells are producing oil and gas. The Ivy well 4500 bbls for month of June 2013, slowly down hill to about 2600 bbls this past month. The Kelley well started at about 7M bbls and is down to about 1500 this past month. Steady production on both but, slowly depleting. Tried to send a link on their production; but, would not work.