There has been much angst in the last couple of weeks from folks who own land in the Barnett Shale and think they've missed the chance to lease their minerals for top dollar. In the heat of the summer, companies were offering $25,000 an acre in bonuses. But in the last couple of weeks, some of the same companies have said they're not leasing at all, or they're only leasing for a fraction of that amount.
If that gets you hot under the collar, consider the former Mayor of Shreveport, who's getting criticism for leasing the local airport for $1 an acre back in 2004. Shreveport is in the middle of the Haynesville Shale, which has seen a similar boom in lease prices.
http://www.shreveporttimes.com/apps/pbcs.dll/article?AID=/20081019/NEWS01/810190316/1060
Hey Gavin, no one has been taken advantage of, take your old broke self and get an attorney , but then you will be taken advantage of
Posted by: DRILL BIT | October 27, 2008 at 11:38 AM
How about the last 100 years of landmen
taking advantage of the landowner.
Payback can be bad.
Posted by: Gavin Winans | October 22, 2008 at 03:44 PM
Greedy? Are you kidding me? How can citizens be greedy about environmental protection? How is it greedy to require that the city to get their act together and formulate a decent gas ordinance? How is it greedy to want our schools, churches and houses to be protected from the potentially fatal impacts of these wells/pipelines? How is it greedy for a property owner to want to protect their investment from eminent domain? I think most of us were fighting to protect our city, not walk away with few extra bucks. You need to do a little more research before you (and others) start throwing around insults about issues you clearly don’t understand.
Posted by: MC | October 22, 2008 at 01:17 PM
And has seen a similar BUST in Lease Prices also
Posted by: DRILL BIT | October 20, 2008 at 04:15 PM
Good! That's what the landowners get for being greedy, ei: banding together for top-dollar or holding out on leasing, even if in a wellpath, to get the most money they can. It sure has turned around to bite them. I hope they aren't teaching their children these lessons of greed...
Posted by: Brian | October 20, 2008 at 03:32 PM