Did your ship come in?
I have been reading the old posts on here and I noticed phrases like, "waiting for my ship to come in", "waiting for the big day", and "my share". The tone of the older discussions seem to be ones of anticipation and excitement. So tell me, did your "ship come in"? How do you feel about the choices you made with the proceeds? Was it life changing for you? Looking back, do you wish you would have done something differently either with the money or with the lease? Are royalties everything the landman promised?
Personally, I inherited mineral rights from my grandparents that I didn't know about until the landman contacted me - so it is basically snowflake money. I have less than 10 net acres total over a couple of different counties but the bonus I received for leased acres alone was a life changer for me. With it I was able to pay off debt (and some bad decisions :) ), put some away in an emergency fund and take a little (much needed) vacation. I think I have made the right choices so far but only time will tell. None of my leases have turned into wells yet, and I am ok if they don't because if they are going to be drilled, I'd rather wait until prices come up.
I hope this isn't too personal or intrusive, I just like hearing other people's stories.
-EM
Views: 11318
Replies to This Discussion
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Permalink Reply by Mike Murphy on
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getting lease renewal bonus soon from Southwestern Energy so I guess my ship has come in twice and they have not taken any minerals out of the ground yet
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Nice! I like to hear that!
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Permalink Reply by GM on -
No, but I saw a light at the end of the tunnel. I realize now it's the train.
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Permalink Reply by Thomas Lilli on
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Ya, my ship came in....but I was at the airport.
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Permalink Reply by william Allen. Ladd on
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An airship maybe?
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Permalink Reply by White Tiger on
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No, we were left out on the first round because of an old lease and a producer reporting production when there was none! They are gone now and a lot of money spent to get them out! Hoping to get in on the second round when all the leases around us come due in less than a year! 140 acres free and clear.
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My ship came in and my producer turned it into a leaky canoe so I paddled back out to sea.
I'll be back shortly, in something much more substantial, you can count on it.
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Permalink Reply by Jim Litwinowicz on
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Yes it did. Unfortunately, I was at the train station.
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Permalink Reply by Joe Bezel on
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Like Mike Murphy, I just got a renewal check with no drilling yet, which is good news. Unfortunately, we signed early on so the dollar per acre was not nearly as high as 2-3 years ago. Still, it was money we didn't have before. On the downside, pipeline companies have turned out to be an unexpected, serious pain. They just don't understand the meaning of the word "no". On the whole, if we could give back all the money and have all oil and gas companies go away and leave us alone, I'd jump on that in a New York minute. I understand many people have benefited from the play, and I wouldn't want to take anything from them. It just hasn't been worth it to us.
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Joe,
The last scam that is available for those in the hunt for landowners wealth is to get a signature on an open Right of Way contract. The kind that makes your whole parcel their ROW.
As you may know they hit every neighborhood using stories that your neighbor needs this ROW in order to produce his well. The contract is a one page vague document, and the landman says they don't negotiate, just sign here.
Those who signed will be in for a surprise when the 36 inch pipelines cross their lands and no one asks for permission since the landowner sold his ROW rights to an unethical company that doesn't play fair.
Wow, that description fits most Oil & Gas related companies.
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Permalink Reply by Joseph-Ohio on
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The ships I've seen / read / heard about (and still see / read / hear about) aren't of the friendly variety.
Still waiting for the friendly merchant / trade ships to break the horizon and head our way.
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