O&G Landman knocking on my door for 'lease' | Page 8 | TigerDroppings.com
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windriver
San Diego State Fan
West Monroe/San Diego
Member since Mar 2006
8656 posts

re: O&G Landman knocking on my door for 'lease'

quote:

your reaction to all of this is strange to me



This guy is an a-hole who knows nothing about the OGM business.


boosiebadazz
Member since Feb 2008
48068 posts

re: O&G Landman knocking on my door for 'lease'
im an a-hole?


TH03
Notre Dame Fan
Member since Dec 2008
101862 posts

re: O&G Landman knocking on my door for 'lease'
I'm very confident he knows a lot about it.


And LOL if you meant to say that about me.


JK
This post was edited on 1/16 at 7:57 pm


windriver
San Diego State Fan
West Monroe/San Diego
Member since Mar 2006
8656 posts

re: O&G Landman knocking on my door for 'lease'
No man, I quoted your post. The OP is an a-hole. All apologies for any confusion.


TH03
Notre Dame Fan
Member since Dec 2008
101862 posts

re: O&G Landman knocking on my door for 'lease'
You were about to be dual completed there.


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boosiebadazz
Member since Feb 2008
48068 posts

re: O&G Landman knocking on my door for 'lease'
oh ok

yeah it was strange how defensive and accusatory he was about all of it


TH03
Notre Dame Fan
Member since Dec 2008
101862 posts

re: O&G Landman knocking on my door for 'lease'
It's how the small lot owners always are


windriver
San Diego State Fan
West Monroe/San Diego
Member since Mar 2006
8656 posts

re: O&G Landman knocking on my door for 'lease'
I've been in the business for 30 years and I run into some guys like the OP in all parts of the country. I don't normally call someone out and kinda regret doing it this time b/c as you said, I was about to be dual completed.


LSUGUMBO
New Orleans Saints Fan
Shreveport, LA
Member since Sep 2005
5345 posts

re: O&G Landman knocking on my door for 'lease'
I just read through this whole thread and I gotta say that if I had a landman knock on my door and just drop of a lease unsolicited, especially if it wasn't mailed to me, I would probably not lease. It sounds like some a-hole landman trying to pick up cheap leases and flip them to a larger company. I don't blame the OP for being skeptical.


BTW- This is coming from a landman. OP's landman sounds pretty unprofessional.


TH03
Notre Dame Fan
Member since Dec 2008
101862 posts

re: O&G Landman knocking on my door for 'lease'
Call him out all you want, just make sure to direct it correctly


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TH03
Notre Dame Fan
Member since Dec 2008
101862 posts

re: O&G Landman knocking on my door for 'lease'
It was probably a letter or intent or something. We went door to door handing them out letting all the homeowners know we would have a meeting to discuss it.


LSUGUMBO
New Orleans Saints Fan
Shreveport, LA
Member since Sep 2005
5345 posts

re: O&G Landman knocking on my door for 'lease'
That makes more sense.


TH03
Notre Dame Fan
Member since Dec 2008
101862 posts

re: O&G Landman knocking on my door for 'lease'
That's the only way it would be okay for him to do that. We got in trouble by the mailman in 2008 for putting them in mailboxes


windriver
San Diego State Fan
West Monroe/San Diego
Member since Mar 2006
8656 posts

re: O&G Landman knocking on my door for 'lease'
Could very well be a buster/flipper but it could also be a young landman who is giving it his best shot at a landowner who won't talk to him, tears up the lease etc. etc.. Who knows, I got enough on my plate without getting involved in this to begin with.


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LSUGUMBO
New Orleans Saints Fan
Shreveport, LA
Member since Sep 2005
5345 posts

re: O&G Landman knocking on my door for 'lease'
Yeah it's illegal for anyone except postal workers to put something in a mailbox. I think I remember hearing that mailboxes are actually property of the postal service or something like that.


TH03
Notre Dame Fan
Member since Dec 2008
101862 posts

re: O&G Landman knocking on my door for 'lease'
Federal property. Correct.


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TigerDog83
LSU Fan
Member since Oct 2005
4310 posts

re: O&G Landman knocking on my door for 'lease'
quote:

I don't think it is very different. It is a marine shale with sand and limetone stringers. Very similar to the Bakken but minus the production rates.


Unknown to many the Bakken shale play is actually a dolomite sandwiched between oil shale. The Tuscaloosa is more of a true shale play versus the Bakken, or the Eagleford which has proved to be more of a carbonate. Results appear to be sub economic right now unless production comes up or well costs come down significantly. Devon looks like they are headed to the Cline and elsewhere and the word around for some time is that Encana's wells have only been about 2/3 of where they need them to be to become economic.


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ClydeFrog
New Orleans Saints Fan
LA
Member since Jul 2012
3060 posts

re: O&G Landman knocking on my door for 'lease'
I'm in an O&G contract law class right now. From what I know, you can make a deal with the oil company now by talking to the landman they hired. Or you can wait and if the oil company gets the rights to drill in the area and it is believed that your minerals are developed in the process, a court will give you a set of elections to choose from. These elections are often a royalty percentage plus an initial payment. If you do not choose one of the options, one will be chosen for you.

Alternatively, there are times when the mineral rights owner shares in some of the financial obligation to develop and produce the well and then payments come later.

This is Oklahoma law though and it does vary slightly between states.

Either way this is good for you and I don't understand your attitude.

ETA: I think the U.S. is the only country in the world that uses landmen because in the U.S. a person can own both the surface and mineral rights. In other countries the government takes the mineral rights.
This post was edited on 1/16 at 9:40 pm


Lefty Diego
West of the Pecos
Member since Aug 2009
378 posts

re: O&G Landman knocking on my door for 'lease'
Did not read the whole thread. EAGLE FORD not Eagleford



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lnomm34
USA Fan
Louisiana
Member since Oct 2009
8108 posts

re: O&G Landman knocking on my door for 'lease'
quote:

No man, I quoted your post. The OP is an a-hole. All apologies for any confusion.




I'm an a-hole for not knowing how the process works and being skeptical of some greasy and unprofessional dude saying, "Hey, it's free money!"?!?!?

If so, then I guess I'm an a-hole. I just consider myself a skeptical, young homeowner. I don't trust people that are trying I get me to sign on a dotted line. Especially when he won't answer my questions with any logical responses.

Anyway, another question I have is: what is my obligation of I sign this shite and I want to sell my house? That could be a sticking point in a sale, no?



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