I think Old Timer's response is very insightful as it pertains to "leasing tactics". As I requested in my first response to your thread if it appears that there has been drilling all around you I would be sure to get together and form a group with those of you contiguous that appear likely to get in an eventual unit.
Especially if you are a smaller property you would want to get in the shade thrown by your larger neighbors I would think.
Things in this business move so strangely I would try to stay upbeat, things change so very quickly and often for the better. I hope this is once again the case for you. There was a time when I thought that due to all my neighbors having signed with Oxford Oil my 30 acres would never get drilled because Oxford didn't drill deep stuff and they were worse to deal with than any of the other companies around here. Then Antero came into the picture and was said to have a deal to buy out Oxford so they could drill our area, only to have that deal fall through. I am not sure Eclipse was an existing company at some of those points in time. Meanwhile I knew people who were told to sign early so they could get drilled first and get first crack at the royalty money, many did, at a very low land bonus amount and some are not drilled to this day.
Might not be much you can say. I had a similar situation with them but they slid right under the date for my lease to be renewed and got us HBP. There have been numerous instances where I have had companies negotiate things with me, water rights and temporary ROW's but these plans were back up plans in case the main thing they wanted fell through, which is fine but they didn't tell me that up front or I would have handled it a little differently.
The timing in your comment makes me think you did pretty well with your first land bonus money, which is better than some did for themselves.
Still, the bonus money I lost, and yours that is lost, was a timing issue that fell barely to their benefit and I don't hold a grudge against them for not paying me if they didn't need to even though the money would have been great to have.
I feel for you, I wonder if you are now thinking you wont get drilled because you were not re-leased ?
I wonder where your property is and how much land you have ? Some areas are I feel certain to get drilled sooner or later, and I believe that overall the later drilled units will pay better due to the upward pricing levels of oil and gas.
Many were envious as we had a portion of our acreage drilled during the time when the drillers were leaving our area in eastern Guernsey county, but I would much rather have been drilled this year instead because royalties on oil at $28 a barrel were not nearly as valuable as royalties on $70 per barrel oil.
I wish you the best of luck going forward.
Eclipse Resources doesn't exist without EnCap. EnCap is an investment fund, meant to make money by either 1) flipping projects for a profit or 2) creating profit through acquisitions.
Right. If a company can make more money by consolidating then they will continue to consolidate. We see it more and more each and every day. You either buy someone in your backyard or you buy something in another basin. EnCap is in the business of making money and apparently Eclipse wasn't impressing their financial backer.