Hey Chingy… Who are these guys “National Landworks”. Have you heard of them? Do they have a local office? Thx Duckman
Hey Joshua… Are you hearing of any, or have you been contacted about any renewed interest in your mineral rights?
Duckman
Guys,
The offer from National Landworks came out of no where.
They are a firm out of Texas. In any case, they have offered to take over our expired leased (previously leased by ATX). I am not that impress with the terms. Was hoping to get a feel for other recent lease offers in th area.
My family tree of owners as well as others, are getting some mild offers from Gordy Oil via National Landworks for plots in t47r80. On prelim footing with titling still ongoing. I assume the Gordys’ are feeling out the prospects of going for a few shekels, near where ATX got some dribble. I guess ATX dribbled out of Trabing. ATX leases have expired but they still have a few producing wells on those leased areas. Anybody know if any royalties went out?
Guys,
Thank you for your responses. I am interested in getting fair terms on our current lease renewal offer. Is it fair to ask to compare lease terms? Please let me know if you are interested, perhaps we can meet and work on these renewals together.
Seems Gordy is feeling out responses before shelling out for title verifications. Only 25% of the signing bonus will be paid out up-front (within 30 days) . The remaining 75% won’t go until title is verified (90 days). A relative was told by rep at Natl Landwrks that ~200 mailings have gone or are going out. The initial mailing I received had incorrect property descriptions for the gross acres listed, listed a price per net acre without numerating the actual net acres to be paid, and had incorrect spouse’s name. Have now received corrected paperwork. I’m waiting to confirm with relatives that they have also received corrected paperwork of what should be matching offers.
I’m not any expert in any of this, but, my impression is that Gordy is trying to tie-up the area with minimal upfront investment, including the land service. You state you’re not impressed with your offer, but you give no details.
This may be of some interest to owners in Johnson Co. Where liquid fracking disappointed, new gas fracking techniques in Mowry shale may be reviving interest from speculators:
Thanks Mike… That is interesting. Of note the the statement that it would be years before the new technology would be able to yield results in the Mowry. Not sure what “years” might be…but seems like a while. Are going to accept Gordy’s offer(s)?? I have not received an offer yet…
Duck, and Chingy, thanks for responding. What was interesting about the article is the continued lure to get the stuff locked in Trabing. I’m sure UofW would like more “years” of research money to keep their program rolling. My understanding (which is limited) that using gas injection such as N2 for bentonite is not new. UofW is hawking for better methodologies that make financial sense. It’d be nice to see the Crazy Woman finally give it up.
Will I sign the offer? Probably. I’m a small fish left over from a long lost homestead. So, I got no need to hurry to sign $200 bonus per net acre, 5 yrs., 1/6 royalty; option for $125 bonus @ 3/16 royalty. It is less than past offers, and less than what was paid by Black Hills.
But it’s hard to resist money being waived around for otherwise now expired lease property in an area that has had some spotty success for decades, ATX being the latest to dip their wick until prices fell out. I also hold some rights in an adjacent section. Interesting that Nat’l Landworks/Gordy for some reason didn’t it include in the offer. Hmm.
Hey JM…
Well (get it 
) the land that we have mineral rights on continues to get no interest at all from any oil company. Darn. Glad you were able to lock in some $$ on your lease. Watch out for the “Pooling” clause and some of the other nuances in a mineral lease. Good luck and I hope they hit !!!