Replies to This Discussion

Permalink Reply by Lynn Wigglesworth on June 22, 2011 at 11:39am

Also, the guy that came around said that I would be getting a letter in the mail, explaining it better. But I should sign FIRST?? Hmmm.  I still haven't gotten the letter.

Permalink Reply by Ann Ticopa on June 22, 2011 at 1:07pm

The leasing landman mentioned only the hand cut "deer path" part.  Apparently he was unaware the letters had gone out.  Didn't talk much to the seismic landman as my primary interest was in them getting their records corrected so they didn't indicate that I was already leased. 

Permalink Reply by JOE REDDING on June 22, 2011 at 11:24am

Lynn $2,000 per acre 15% no surface. I didn't tnink it was all that bad, they also added adenda for c&g, water,row'sand indemnification.

Permalink Reply by Lynn Wigglesworth on June 22, 2011 at 11:34am

That much for no surface?? Last time I talked to them (2009), they only offered $500/acre for no surface, so I didn't consider it. It's worth thinking about now.

Permalink Reply by JOE REDDING on June 22, 2011 at 11:52am

That's why I signed, I was waiting for TTLC but when the sisemic guys came around i told them I was not leased and haden't heard from the landman for about 6 mo. they ask me who he was, and the next morening he calls, and offered the no surface. I am like you in  the middle of a unit and was holding out, but i thought it was time to jump in, before i was passed by and the no surface with the same offer as the standered lease was o.k. with me.

Permalink Reply by Lynn Wigglesworth on June 22, 2011 at 12:12pm

A no surface lease would eliminate a lot of the concerns I have about having to have lots of addendums to keep them from destroying my property. Not a bad deal. I wonder if TTLC realizes how many properties they are losing by not letting people know what's going on.

Permalink Reply by JOE REDDING on June 22, 2011 at 12:20pm

I don't think they had any takers again, I e-mailed them around Feb. and expressed my concerns and they told me I had to do what I thought was best for me. SWEPI has a well pad 2,000 ft. southeast of me and 6 wells perposed so I had to do something. My concerns were also protecting my property, no surface was just what I needed.

Permalink Reply by Ann Ticopa on June 23, 2011 at 6:30am

Lynn,

Just dawned on me that I should mention that the non-surface lease I was offered by East was done by an addendum to their standard lease, not a specific non-surface lease.  So unless SWEPI does now have a separate lease, you won't escape having to do an addendum for non-surface (and, possibly, ancillary uses like ground water). 

 

As for seismic, I'd think if they really want to do it, they should be willing for you to exclude your woods.  Consumer GPS units are good enough to do approximate coordinates for the boundaries.   .

Permalink Reply by Ann Ticopa on June 22, 2011 at 12:32pm

That's their "Non-surface is a nuisance so I'm going to try to discourage you with a ridiculously low $500 initital offer" routine.   One of the reasons I didn't sign up with the TTLC was that their non-surface lease would be only half the bonus.

Permalink Reply by paleface on June 22, 2011 at 1:11pm

 Non surface for 2000-15% thats a good deal I would sign that.

Permalink Reply by Lynn Wigglesworth on June 22, 2011 at 1:16pm

I agree.

Permalink Reply by paleface on July 12, 2011 at 6:23am

 Jim,no deductions to transform the product to a marketable form is very important also.

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