justbill

They play McNeese Oct. 16? What gives here, for months, I thought they did not play Oct. 16.

I checked the schedule back in the fall of 2009 and I had it showing a bye that week. I scheduled a very important event on that date, I know I checked it more than once to make sure.

I wrote a song and here is a link to get an MP3 -- LINK

In Louisiana mineral law, oil and gas is considered a fugacious mineral. Fancy word meaning migratory. Oil and gas migrates through the rock formations to the wellbore and comes to the surface. Oil and gas in the ground are not owned until captured. Which means a well needs to be drilled to capture it into a tank or a pipeline. Its only value in the ground is what someone is willing pay for it... and that it's even there in commercial quantities is not determinable until it's drilled. It's not captured until drilled and there is much risk involved to capture it and even more risk to keep it coming.

It's not like real estate, which can boast the legal term lesion for rescision beyond moiety. That means something like "cancelling a contract due to being paid less than half the current market value." Because market value can be determined in real estate. It's stated in each contract. Thus, an appraiser can give you market value for land. (Which is highly variable if mineral rights are involved along with the land.)

For oil and gas, nope. The value is whatever someone will pay you. Which is highly speculative and open to much interpretation. Also, it largely cannot even be determined. (Back to the principle of capture.) Value is simply a buyer's willingness to pay x-amount.

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Maybe just wishful thinking, but I was hoping someone knowledgeable here might tell me it's an out. There are less than two years left on the lease and at the pace happening now they won't be drilling there by then anyway.

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I already did. You don't have an out. HS gas can obviously migrate to the wellbore; it's conventional. Liquids and gases.

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Is the drilling and production of shale formations (e.g., horizontal drilling and other techniques for drilling and producing from shale) considered conventional oil and gas drilling and production methods?

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Yes.

You can't lease for oil and gas if you have a hunting lease on the land? That is the dumbest thing I have ever heard of. You need a new attorney. He's got legalese disease. Too full of himself as a lawyer. Just ridiculous. Sorry, I had to chime in.

All of you guys asking how much is my land worth are, in general, asking a question that depends on many variables and largely, cannot be answered until after the fact. How much is it worth? How much can you get? That is your answer.

If you don't have the knowledge and skills to do it, hire a professional. I don't say that selfishly, I say it because it's the right answer. It's just way beyond the scope of a public message board. I see things posted on some forums that are ridiculous and are, in fact, not only not helpful to the landowner, but harmful.

In the past two days, I have dealt with two landowners that both were quoting me ridiculous sums of money they were demanding for their property. Both arrived at these figures by listening to people who don't know what they are talking about or by using false assumptions.

One also jacked it up by a factor of ten beyond his already erroneous demand by making a mistake using his calculator. I pointed it out to him in five seconds. "No way," I said, "How did you come up with that number?" It was WAY beyond what the gas company would ever possibly get back. By a huge factor. This play is rampant with people who think that their two acres are going to turn them into Jed Clampett.

I have said before and will say again... there will be lots of money made and lots of money lost in this play. It can be a major life-changing event for those who have more than a city lot and who work smart. For those who are greedy, it might work out and it might not.

Get your part. Get all you can. But I hope more people will get professional representation, no matter who the professional is because it just makes it hard on everyone with these unworkable numbers being promoted by so many people.

Good luck, everyone!

Dynamic is a small company that has a piece of the Sentell Field. They've been drilling Cotton Valley infill wells visible on Hwy 3 between Benton and Bossier City on the east side of the highway. I think it's on the pink sheets.

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With the HK announcement today of a 16.8 mmcfd rate well, the PVA one at 8 mmcfd, and the rumored CHK wells at even higher rates, do you have any idea if these rates are falling fast? Have you heard this in any regard? I know South Texas had a ton of potential a few years ago with wells coming on at huge rates in sands with low permeability and they fell very fast after IP. Any idea if these are the same?

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They will fall fast. This is the nature of the beast. People who think that a 15mmcpd well will stay at that are ignorant. Not stupid, just ignorant. Hopefully, time till tell that the decline curve will flatten out after a few years and decrease much more slowly. But, at this time, nothing is given, as nothing has been been producing very long. People should be aware that geologists and engineers in the know base their projections on real data, not pipe dreams.

Let's hope for the best.

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Now how can you tell what's Cotton Valley and what's Haynesville?

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Sometimes it will say under "Sand." If it's been unitized with fieldwide units, sometimes, you can tell by the nomenclature... the well name. CV RA Smith #1 or whatever. That would be Cotton Valley Reservoir A Smith #1.