Replies to This Discussion

Permalink Reply by JohnL on July 11, 2017 at 12:40pm

Bob,
I still check in from time to time. Not much going on here.

To answer your question, I'm going to guess that Hilcorp will be back once the cracker plant is up and running. Rumor has it that Hilcorp dropped any lease that did not figure into their 3 year plan. Most of those leases were due to renew in the next couple of years and why spend the money. Word is that they will be back. Let's hope so.

As far as I know, Chevron is still holding the leases they purchased from Atlas.

jl

Permalink Reply by James Brink, Esq. on December 13, 2017 at 5:39am

Chevron released a bunch of my clients' leases in the Cool Springs area last summer.  

Permalink Reply by james on December 13, 2017 at 9:42am

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.

Permalink Reply by James Brink, Esq. on December 13, 2017 at 9:53am

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.

Permalink Reply by james on December 13, 2017 at 9:55am

Anyone that signs a lease like that might as well just give their rights to the gas/oil companies?