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Poll: Economic forecast for America by CT Members
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<blockquote data-quote="backhoeboogie" data-source="post: 706789" data-attributes="member: 3162"><p>It jives very well if you are familiar with a Pugh Clause added to your lease amendments. My cousin put them in all my leases. Once the land is in production and the lease has lapsed, the company only owns the land down to 100 feet below their deepest drilled wells. So if your cotton patch is at 7, 432, you can lease from 7, 532 on down. The Haynesville is at 12,000 on most of my measley East Texas cotton patch leases. So I essentially double dipped. 25% is not good on the cotton patch but it was being offered left and right for the Haynesville Shale last summer. </p><p></p><p>If you want the specific details, pm me, we can exchange emails and I can send you my lease amendment clauses that contain the legal mumbo jumbo that enabled the double dip. </p><p></p><p>Land men hate me by the way. And that feeling is mutual. The ONLY reason I took that sweet deal on the 75 acres is because I told a friend not to lease with the deal he was being offered. I said something like, "Heck, I'll offer you a better deal than that" and his pants wearing wife decided I needed to put my money where my mouth was. So I did. It was pretty intimidating for a non business type like me. It turned out sweet but you never know - and you don't get the big head about it or start getting cocky. Next time you could get burned just as easily. </p><p></p><p>You are absolutely correct on the choking back too. On the holdings I have that is not in production, hopefully the leases will lapse. It would be terrible to get the initial surge at these prices. </p><p></p><p>There is also land that has never been leased. Carrizo Oil and Gas will not lease direct. You have to go through a land man. They have leased up everything surrounding my house and 16 acres so no one else is interested in leasing me. The best offer was 1/5th and $750 an acre. I told them to pound sand. Most of the neighbors have no holdings elsewhere. Some took the first offer of 1/8 and $250 an acre. The land men will flip it to Carrizo for 25% (and you know that TB.)</p></blockquote><p></p>
[QUOTE="backhoeboogie, post: 706789, member: 3162"] It jives very well if you are familiar with a Pugh Clause added to your lease amendments. My cousin put them in all my leases. Once the land is in production and the lease has lapsed, the company only owns the land down to 100 feet below their deepest drilled wells. So if your cotton patch is at 7, 432, you can lease from 7, 532 on down. The Haynesville is at 12,000 on most of my measley East Texas cotton patch leases. So I essentially double dipped. 25% is not good on the cotton patch but it was being offered left and right for the Haynesville Shale last summer. If you want the specific details, pm me, we can exchange emails and I can send you my lease amendment clauses that contain the legal mumbo jumbo that enabled the double dip. Land men hate me by the way. And that feeling is mutual. The ONLY reason I took that sweet deal on the 75 acres is because I told a friend not to lease with the deal he was being offered. I said something like, "Heck, I'll offer you a better deal than that" and his pants wearing wife decided I needed to put my money where my mouth was. So I did. It was pretty intimidating for a non business type like me. It turned out sweet but you never know - and you don't get the big head about it or start getting cocky. Next time you could get burned just as easily. You are absolutely correct on the choking back too. On the holdings I have that is not in production, hopefully the leases will lapse. It would be terrible to get the initial surge at these prices. There is also land that has never been leased. Carrizo Oil and Gas will not lease direct. You have to go through a land man. They have leased up everything surrounding my house and 16 acres so no one else is interested in leasing me. The best offer was 1/5th and $750 an acre. I told them to pound sand. Most of the neighbors have no holdings elsewhere. Some took the first offer of 1/8 and $250 an acre. The land men will flip it to Carrizo for 25% (and you know that TB.) [/QUOTE]
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