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re: Mississippi, Louisiana border verging on an oil boom
Posted on 4/22/14 at 8:11 am to theBeard
Posted on 4/22/14 at 8:11 am to theBeard
quote:
A family friend had a company lease acreage in north LA just south of shreve for what he "said" was 20k an acre. I assume that was true no way to really confirm.
If around '07 to just before the '08 meltdown, very likely true. Chesapeake ran the bidding on some tracts up as high as 30k per ac.
Companies now are drilling wells, hardly making any payout, just to keep those expensive leases HBP so they can still have those mineral rights on active lease when natural gas prices climb back up.
1
Posted on 4/22/14 at 8:24 am to ragincajun03
quote:Yep. Large land owner that we have worked for in the past turned down $30k/acre for a 1200 acre tract b/c he thought he could get more. They came back a few weeks later with another offer and the highest they would go was $8k/acre. How do you turn down $36 Million? And that's before royalties
If around '07 to just before the '08 meltdown, very likely true. Chesapeake ran the bidding on some tracts up as high as 30k per ac.
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