Hang in there Bob. Things may get back to normal later this week and maybe you can still get the bonus and royalty you were hoping for.
I think the first error was the land man’s. Not sure about the second.
Thanks. I’m still hopeful.
I’m sorry, Bob. How many acres did they leave you hanging on
244
Hang in there, there are still other players out there, so keep your chin up, have everything ready to go, so when you find an offer.
Some people have went with FireWheel and are happy, Lincoln Land & Title (Devon), they have all the leases they are going to get right now and are working on permits to start drilling
George, Firewheel is a reputable group as is Laredo Petroleum. They are both operators who plan to drill and not just flip the lease. Firewheel is a newer company with several of the execs that were part of XTO and they started Firewheel last year and have not drilled anything yet. However, they do have a lot of experience from XTO.
Bob, looks like I wrong about Devon getting back in this week. I think they are filling in gaps in the land they have already leased. Call Stevens & Tull and Laredo Petroleum, if you haven’t already, and drum up their interest in your land. Best of luck!
Ask for 25%, have a lawyer protect your interest, and sign it before the market changes. Good luck.
I have been approached by FireWheel Energy. Anyone have any dealings with them?
We leased with them for $550. and 23%–we have the money and have been pleased with landman Mitch McCarrol.
Here is a recent article about Devon Energy and the Cline Shale…pretty interesting…enjoy!
http://oilandgas-investments.com/2012/natural-gas/the-permian-basin…
Have an offer on the table for $650/acre and 23% royalty. 650/acre to exercise 2 year option. No costs of production. Thoughts?
I think $650. sounds good. It may go up, but you never know! Are you dealing with Mitch?
Lewis Henderson
Martha: When you signed with Mitch/Firewheel, did you have any trouble striking the “Lessor hereby warrants and agrees to defend title” clause.
Lincoln Land & Title is a reputable group. We signed with a landman from them who was leasing the land for Devon Energy. No problems at all with Lincoln. Best of luck!
Cheryl, depends on what your attorney wrote in, we received our 1st 1/2 bonus check last Sat., the other in 90 days when they have ran the title, some has gotten one, others have not, most will get them after they have ran title, it is just our attorney wrote in there 10 days on the first 1/2 and within 90 days after title on the last half
I have heard others with other companies have not received anything yet either.