Chevron released a bunch of my clients' leases in the Cool Springs area last summer.
I agree, Hilcorp doesn't have any pressure to sign any new leases tight now, no competition in our area, a few years back there were 3-4 companies bidding to get new lease land. I just hope when things pick back up that more then Hilcorp is leasing or they will make low offers and try to get people to sign up for next to nothing IMO. I'm still wondering why Pin Oak bought a bunch of stuff off of Halcon if they thought there was no value in this area? I think those who are patient and don't become desperate to the gas/oil companies will come out the best.
I totally agree. I have received word that some independent landmen are working in the Beaver County area telling folks to sign now so they don't miss out again. I am hearing the offer is 15 NET and $10/acre. Seems like they want to go back to the bad old days.
Anyone that signs a lease like that might as well just give their rights to the gas/oil companies?