The claims of $3400 per acre and up to 19 % are HYPE.
Anyone out there knows that so far $ 2750 and 16 % is what is truly out here.
Then one must consider the lease terms. Or if this is a marketing agreement.
Also look at the Ad ons - these are to help protect you.
Finally and most importantly!!! Have an oil and or gas attorney review this docoumnet.
Claims of Large cash sums are everywhere, but in reality no one ever shows us a pay stub.
Glenn: How do you know this? Extremely happy with the Patterson site. Because they are goining to drill more or something else? What is
Mike , this is from our Lawrence County site: (maybe extremely happy was a misquote..Excited is the term they used)
Reply by Todd J. Scott on
It hasn't been long since we spoke last, hopefully you're finding your way through our last correspondence ok. I'll respond to your questions in the order that you queried them.
Wells besides the Patterson --Besides the Patterson well there are 14 other locations in Butler and Lawrence Counties that Shell currently has permits in hand or have submitted for the coming year. Many more to follow as leases are aquired and title opinions from Shell's attorneys get reviewed and blessed.
News on the Patterson -- I don't have much to share here other than Shell is excited about the results and this is part of what is driving them to continue drilling and testing other portions of the prospect area. The more people that lease with Shell, the more units they will plan for.
Gateway wellsite -- I have no knowledge of this off hand. Share what you know if you would. I don't recall seeing that name on any of the proposed units that we have been asked by Shell to work on... at least not yet. (This is actually named the Kephart site.)(Glenn)
Hilcorp drilling -- I have no knowledge of this as well, nor should I.
Cemex leased to? -- They leased all of their rights with Shell, and as more of their acreage is discovered through our title efforts, or their own acquisition efforts we have an open ended deal to include those acres on that same lease. At last count it was a little over Three Thousand (3,000.00) acres.
Pertaining to gas in Lawrence County -- pretty broad spectrum here, but I don't have anything shocking to share.
Bonus Checks -- I wish I had this problem, but I don't own property here so I'll tell you what I do know on the subject. We are doing our best to trim the timelines down from 90 banking days to 45 banking days as our goal to get landowners paid. The limitations at the Lawrence County courthouse in terms of physical room and available computers are challenges but we're working through them. Remember if you have executed a lease with Shell and recieved the bank draft from your landman you need to take that draft to the bank ASAP. That is what starts the clock on the 90 banking days.
I hope this helps with some of your questions Glenn, and others that have responded in this thread.
ok Glenn was hoping for something more then
Good for you, Glenn!
Wonder what it takes to excite a cagillion dollar corporation like Shell........?????
The claims are true but I would not advise land owners to be showing a check for hundreds of thousands of dollars due to security. As you will recall Craigs List wasn't to good of a place to look for work!
But the value is where your property is at. Simply put Joe we have what they want and we are getting educated as to what it is worth. We need not swallow what flippers are attempting to do or even some unscrupulous so called land owner groups are up to.
Thars Oil below they know it they want it they will pay for it after all it is a business expense to them.