Ty is an independent attorney who represents you, the land or mineral owner. He has worked with many different oil companies and landmen to get his client the best lease possible. He did a good job for us and we received our first bonus check recently.
Where can I find a map which shows where in Mitchell county my minerals are? I have the legal description but can’t find a map anywhere! Thanks!
You might call the Mitchell Co Appraisal District and ask them.
Quanah Energy, has paid up to $550 in some areas.
Yes, others are leasing, but different companies/leasing agents are focusing on differing parts of the county. For example, Laredo is interested in some portions of the county, but not other areas. Or Devon/Lincoln are interested in some portions and not others, but it could be just the reverse of the areas that Laredo is interested in. Or Firewheel, or Newkumet, or Double Eagle or any one of the twelve (or whatever) companies/leasing companies/land agents that have been most active in this particular county. Then to make things crazy, a company like Lincoln fires all the land agents except one or someone like LMD stops leasing for company A and starts leasing for company B. The “little guys” may never have the capital to drill, so their sole goal is to lease land and “flip” it to another O&G company. A land owner just needs to not rush to sign (as those many did back in Sept and Oct and even Nov and got $200 per acre), on the other hand, the landowner has to also be willing to rely on advice from a GOOD O&G attorney and decide when to “fold” and take what seems to be the best lease at the time. I KNOW a landowner who held out for $800 from one of the big companies, then got left with nothing when they stopped leasing in Mitchell County. So, now the land owner has no lease because none of the other companies/leasing agents are interested in that particular part of the county. It is very hard to live with that decision on his/her part.
Ms Dena, unfortunately there is so much speculation on where to drill, however learning and now understanding why those planes have been flying all over the county about 2 and 3 years ago, I believe I hear they are doing seizmicgraphs (sp?) to determind various locations, a lot of times they will buy up leases to make sure when they do drill (i believe they are only allowed up to 300 ft to a property line) it is to insure they are not prohibited, everything is a crap shoot, they do have up to 3 years and then another 2 year option to even drill, a lot will depend if they get some kind of production going, I know people are hoping a praying they are going to drill on their land, and I keep saying we have all been blessed just for the chance, and nothing in life is a guarentee, I have been praying for the last 3-4 years that something would happen in Mitchell county to help with the economy, and it is happening now…sometimes small miracles are here and around us, we just need to be thankful and open our eyes and enjoy the ride while we can.
Hi Dena. Having a producing well is most certainly where the best money is. Articles suggest the Cline Shale and Wolfcamp shale cover a very large area, over 1 million acres. Some of these area will be more likely to be drilled than others and that is based on many variables. There are a number of companies that have the financial resources to drill many wells, but the wells are very expensive to drill laterally, which is one of the most likely scenarios for the Cline Shale, running 5 to 8 million dollars. Devon is one of the larger companies with pockets deeped than most, thus they will be more financially able to drill more wells than most. Mr. Wood sent me offers from several different oil companies including Firewheel, Stevens and Tull, Devon, Laredo, and one or two others. The lease offer from Devon was the best for me not only in terms of up front bonus and royalty %, but also other terms that Ty negotiated with them on my behalf. He signed other land owners with other companies, but I held out, almost too long, and the Devon offer came up and it was the most attractive. I feel I have as good a chance for Devon to drill as I do any other company. If they don’t drill for 3 years and the area is still attractive, they may want to re lease my land and I will again make an attractive amount on their speculation. Best of luck on your dealings Dena.
Robert and Rebecca Help me understand how Devon will ever drill all these 100’s of thousands of acres. How is that best for landowner? Has anyone been represented by Mr Wood and signed with anyone other than Devon? It seems having wells drilled is where the real opportunity is. Is anyone leasing this area other than Devon and Firewheel?
Quanah Energy LLC, they are paying $400-$450 per acre.
I have heard time and time again about holding out for the really big bucks, and then left with nothing, I have told other people it is like when you are gambling in a casino, you are winning, and then you get this gut feeling, you need to take your winnings you have an walk away, I have also heard and know some people thought they were going to really make a killing and hold out for $950/ac and 30%, well they gambled and lost,and no leases at all, sometimes that little greedy voice will get you into trouble. So even those people who took leases early on and feel they got cheated out, rest assured you at least got some as well, there are those that did not get anything, and you never know, there could be more coming…so don’t give up yet…and good luck to everyone…
Anyone had Devon or anyone else pull offers after hours or after lease written?
Not that I know of, I know they had a time limit, and everyone who already had a lease in with TY, had until noon that Monday to sign, but they had stopped with leases the Friday morning before at 8:30a
Ty thinks Lincoln is out and someone else may be working for Devon soon…or that was my understanding.
Lincoln is not accepting leases now. They offered and took off within one day then offered again the following Monday. If lease not signed today will not be good. Trying to get another offer. I have an 80 year old lease my grandfather signed. We should have been millionaires many times over if he had used attorney then. Plus they will take just enough oil to keep lease open forever so we can not renegotiate.
GUYS, PLEASE GIVE QUANAH ENERGY OUT OF FORT WORTH A CALL, THEY ARE LEASING IN MITCHELL COUNTY FOR A PRIVATE OPERATOR, NOT A BIG COMPANY THAT WILL NEVER GET AROUND TO DRILLING ALL OF THEIR LEASES, THEY ARE PAYING DECENT BONUSES,
817-840-7716
Hi people…wish I had found you sooner. I spoke with Lincoln Land on Mon. I had been working for 4 months with a guy named Nick Neville…sent him all kinds of info for my family and he dragged his feet until we missed out last Fri. when Devon called it quits on the leases. Ergo the phone call to Lincoln. Found out a lot. Lincoln is looking at 5 lots 2 sections each lot to drill on. They don’t know for sure which sections they will use but they gave me all the Lot #'s and sections they are looking at. They are trying to sign everyone in those areas to leases now and the rate of $650 acre and 25%. If they hit oil there will be wells drilled all over the place and they will be getting leases signed once again. The man I spoke with gave me the names of 3 other companies I could get in touch with in the meantime if I decide to feel them out…but he said that if they strike oil the leases would be offered at a higher price than what has been offered. They started out with $200 and 3/16 with us but then the prices started rising and so did the percentage. Their last offer was $550 and 22%. I think the reason Nick was so slow and we have missed out so far is the Landmen get paid per day a flat rate and so they weren’t in any hurry to get their work finished. After 4 months of waiting for Nick to get the lead out I am very angry and frustrated it didn’t finish. I didn’t negotiate the last offer he made…he came up with the amount himself and then failed to get the paperwork in on time.
Well (no pun intended) there has been since last night parked by the 7-11, and accross the street 7 big rigs with oil drilling pipe on it, don’t know where they are starting, but looks like things are starting up, and of course Fuller’s Store and the rest are jacking up prices on everyone…lol sad but true…guess you can’t blame them.
in the area about 1 mile from the intersection with the road to the state park and the dam…
Ginger Moreland and Rebecca Seibold: Please keep us all informed about the activities around Colorado City, and south on 163 and 208. Devon told me they were starting in late May with 4 drilling rigs, and plan to have 15 wells drilled by the last of this year, in the Permain Basin. KEEP US INFORMED, PLEASE!
saw several rather large (drill rig size) plots scraped off going down 163 with lots of activity around there— looks like drill rig sites, and equipment storage lot