Waiting may have value
I have been working in the oilfileld for 35 years, have Eldred property. Drilling and fraccing shales is relatively new; e.g. technology evolving. Thus, waiting to have your property developed will have benefits because wells drilled several years from now will have a better chance of better production. It is very possible for a company to screw up the formation in your area with poor production practices. It happens all the time and often cannot be fixed once the damage is done. The practices of production will only get better with time and experience.
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Permalink Reply by Thomas Wentzler on
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If you signed a lease, the choice is theirs not yours. If time is short, ask about their track record; e.g. "What have you done in the area?" Then talk to the contractors that they have used. They may tell you confidentially if they really know what they are doing or not. Remember, they (the energy company)are probably drilling using other people's money; e.g. do not have the personal commitment that you have. There is a wide spectrum out there from the very competent to ...
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