Dissappearing Landmen

I have a question about Landmen......could one of you landmen perhaps be honest for a change and answer this also?  Love to hear your input!

 

Is it typical for a landman to come out and express great interest in your property....drop off a crappy lease and then dissappear for weeks/months?

 

We had a guy stop by in the beginning of June....dropped of their "standard" lease, said he would happily come back when my husband was home and talk about addendums.  After missing two appointments with us (the first he never called after, we called him to find out what happened)...he finally came and listened to our requests.....then he went away to add addendums to the lease (oh and we still had not discussed price)....over a month later, Rob called him and he said he had something for us, would stop by that afternoon.....he never did...then a few weeks later, Rob called  the main office in Western PA and finally yesterday, he stopped at my door....quickly handed me a lease and said that although they did not want to pay the $3,000 an acre he promised us, they would honor it ... for the next week only!  Then he rushed out the driveway....

 

Now, we had never discussed price...

we would have told him $3000 was not what we were looking for. And if they wanted this land...why do they then avoid us?

 

I'm curious....is this landmen strategy to see if we are desperate for the money?

Is this their way of low balling us to try and get in at 3 instead of 5?

 

We dont really know other people who have had to do dealings like this... a couple of our neighbors have taken $1500 recently...but they own under 50 acres and 1.5 acres.  we have 120.  It would be nice to talk to people who have approached the gas companies themselves and how the process worked for them. 

 

thanks!

Sue T

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Replies to This Discussion

Permalink Reply by Sam Douglass on August 10, 2010 at 4:14pm
Landmen come and go. But when a producer is trueley interested in going forward with drillinhg in your area you will not be able to keep them away. Can you wait? It may be awhile. The current waive is trying to sign up everyone while it is cheap. If you need the bonus offered now, they win and you might lose. On the other hand, if you have to wait for 10 or 20 years to make a deal, maybe getting a little cash now is worth it. you must decide.
Permalink Reply by Michael Antrim on September 22, 2010 at 12:45pm
I would like to add not only are landmen like this so are the Gas companies. I'm in a drilling unit at a stand still. They continously try to have me sign a drilling unit ratification (to break the 640 max verbiage) with Zero explaination why it would benefit me sign it. I have gotten the same ratification from 3 different sources. Sounds slimey, it is. They will not tell me what the final unit will look like.
In turn, i will not sign it. The wells have been pumping gas since March at 6.0mm per day. I actually met face to face with gas company and they told me they were going to show me both proposals. I showed up and all they showed me was royalties for 540 acres, nothing on the 900 proposal. Why do they need ratification of my lease if the unit is 540 scres? They told me the guy i spoke with on the phone about both units left to go back to Ok. They could not find the 900 proposal.

Doing business with landowners does not have to be conducted in this manner.
Permalink Reply by Lease Expert on September 22, 2010 at 1:45pm
Michael,

This sounds like a problem I heard on the radio a few Sundays back, you should call into the natural Gas radio show on Sunday and explain this problem on the air... Seems as if they get results pretty quick for the listeners,,, good luck
Permalink Reply by Rob Thompson on September 23, 2010 at 3:48am
the natural gas radio show? where can I find this station?
thanks!
sue
Permalink Reply by Lease Expert on September 23, 2010 at 4:47am
I'm not sure the channel because its on a preset in my car but its sunday morning at 10:30 am. I will try to pay attention and post it.
Permalink Reply by craig on September 23, 2010 at 7:12am
The show is on 104.7 FM, pittsburgh area.
Permalink Reply by Rob Thompson on September 23, 2010 at 7:17am
thnks! wonder if I can get it online...I am in Bradford county...doubt we will receive a ptitsburgh station up here!!
Permalink Reply by BW on September 23, 2010 at 12:17pm
Rob,

Unless they have changed their policies - it is recorded and you can listen to it online at any time - it is a pretty interesting program
Permalink Reply by Lease Expert on September 23, 2010 at 1:18pm
it can be listened live on http://www.wpgb.com

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