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yellowfin 
Illinois Fan
Paige is Pretty
Member since May 2006
51853 posts
| re: O&G Landman knocking on my door for 'lease' (Posted on 1/17/13 at 2:08 pm to lnomm34)
Honestly if you just recently bought the house then you probably don't own the mineral rights anyway, I'd start by double checking that.
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LSUisBetterthanU 
LSU Fan
Baton Rouge
Member since May 2007
335 posts
| re: O&G Landman knocking on my door for 'lease' (Posted on 1/17/13 at 2:10 pm to Geauxld Finger)
If you hold out and they get a certain percentage of the area to sign. Then they can drill without your permission (just not on your land) and you get jack shite.
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dagrippa
LSU Fan
Saigon
Member since Nov 2004
1429 posts
| re: O&G Landman knocking on my door for 'lease' (Posted on 1/17/13 at 2:14 pm to lnomm34)
My buddy's father lives in a regular old ranch home on a pretty small lot in Central (or Greenwell springs) and gets close to $1000 a month for oil/gas.
I have 350+ acres in north la and get less than $80 per year.
My point is you really never know what you can get.
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lnomm34 
USA Fan
Mississippi
Member since Oct 2009
7429 posts
| re: O&G Landman knocking on my door for 'lease' (Posted on 1/17/13 at 2:18 pm to yellowfin)
I do own them.
Bought the house about 3 years ago.
This post was edited on 1/17 at 2:19 pm
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TH03 
Notre Dame Fan
Barves Fan
Member since Dec 2008
45667 posts
| re: O&G Landman knocking on my door for 'lease' (Posted on 1/17/13 at 2:24 pm to lnomm34)
quote:
being skeptical of some greasy and unprofessional dude saying, "Hey, it's free money!"?!?!?
I'm greasy? wtf does that mean? 
quote:
Especially when he won't answer my questions with any logical responses.
ask a question and I'll answer
quote:
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?
the lease is binding on your heirs and assigns (who ever may inherit or buy your property)
if you sell the minerals, the lease is binding on the buyer, but the obligation to perform and pay is to the buyer, not you.
if you sell the house and reserve minerals, the lease is still binding on the buyer, but the obligation of the Oil company is still to you.
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lnomm34
USA Fan
Mississippi
Member since Oct 2009
7429 posts
| re: O&G Landman knocking on my door for 'lease' (Posted on 1/17/13 at 2:48 pm to TH03)
quote:
I'm greasy? wtf does that mean?
Not you. The specific dude that keeps coming by. Unless that is you. . . .
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TH03
Notre Dame Fan
Barves Fan
Member since Dec 2008
45667 posts
| re: O&G Landman knocking on my door for 'lease' (Posted on 1/17/13 at 2:49 pm to lnomm34)
no, I haven't spoken to a landowner in years
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hardhead
LSU Fan
stinky bayou
Member since Jun 2009
1750 posts
| re: O&G Landman knocking on my door for 'lease' (Posted on 1/17/13 at 2:50 pm to LSUisBetterthanU)
quote:
If you hold out and they get a certain percentage of the area to sign. Then they can drill without your permission (just not on your land) and you get jack shite.
negative
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TH03
Notre Dame Fan
Barves Fan
Member since Dec 2008
45667 posts
| re: O&G Landman knocking on my door for 'lease' (Posted on 1/17/13 at 2:52 pm to hardhead)
he's like 90% correct.
it's a .2 acre lot. If the OP is in Louisiana, it's most likely a 640 acre drilling unit. Depending on where in LA, it could be a 1200+ acre unit. In the grand scheme of things, that .2 acre is meaningless.
They can and will drill without leasing him and he will not receive a cent until the well is paid out
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Paige
LSU Fan
Vice President of the OT
Member since Oct 2010
26203 posts
| re: O&G Landman knocking on my door for 'lease' (Posted on 1/17/13 at 3:16 pm to TH03)
We wasted a lot of time and money on subdivision lots back in the day
Remember that?
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TH03
Notre Dame Fan
Barves Fan
Member since Dec 2008
45667 posts
| re: O&G Landman knocking on my door for 'lease' (Posted on 1/17/13 at 3:16 pm to Paige)
yes, that's why I still have anger issues about them
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gorillacoco
LSU Fan
Baton Rouge
Member since Oct 2009
920 posts
| re: O&G Landman knocking on my door for 'lease' (Posted on 1/17/13 at 3:31 pm to TH03)
quote:
Have fun making absolutely nothing while your lot is drained!
Or maybe you should look into something more in depth than just "okay, sure i'll sign your paper, mr-i've-never-met-you-before-and-you-appear-to-be-a-door-to-door-salesman." Most strangers that approach you in public with business propositions are trying to screw you.
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TennVOLS423 
Tennessee Fan
Sarasota
Member since Sep 2009
771 posts
| re: O&G Landman knocking on my door for 'lease' (Posted on 1/17/13 at 4:07 pm to lnomm34)
Western PA(Marcellus Shale) and Eastern OH(Utica Shale) will be big players in the industry over the next few years. I am currently working on a Project in the Marcellus and am getting ready to start another on the Utica. A lot of work in this area!
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