Knock off the profanity acronyms here. It is not welcome. There are boards where you can communictae with that intellectual dwarfism, but this one ain't it. I would ask that Teegue delete that post as offensive -- anybody with me on that?
On Oct 15, 4:33 pm, [EMAIL PROTECTED] wrote: > You can get a check (certified) if you request one upon signing the lease.? > But when the company or landman balk at it the mineral owner sometimes > succumbs to their demands.??I had a landman go through some items I wanted > yesterday and he said....ok....maybe......might be able too....no way in hell > thats gonna happen.....so that finished that negotiation.? I am not going to > be talked to like that.? I'll wait for the next one if it comes, if it > doesn't fine.? Damn hick MF from South Carolina.... > > read more » > > > > -----Original Message----- > From: Rufus O'Malley <[EMAIL PROTECTED]> > To: Bakken Shale Discussion <[email protected]> > Sent: Wed, 15 Oct 2008 1:34 pm > Subject: Re: ND sweet breaks $60 > > 'All I hear on this forum is people wanting to > know how to squeeze the last dollar from the oil company.' > > Nicely said, Duane. I have a feeling that Cdbkkn doesn't quite know > what he is talking about and instead of asking questions with > civility, he gets snarky --- Along with a signed lease, is a 'Site > Draft', which is a document (looks something like a check) stating the > amount that the leasing agent/oil company bank will release to the > mineral owners bank after 30 business days. Somebody check me on > this: When the Site Draft is turned into the Mineral Owner's Bank, it > is sent off to the Leasing Agent/Oil Company Bank. Approximately 30 > business days later, (45 is common) a Check is sent to HONOR the Site > Draft from the Leasing Agent/Oil Company's Bank TO the Mineral Owner's > Bank or Trust. > > Nobody gets a valid check in hand from the leasing principle, let > alone one that is 'run-to-the-bank cashable'. If games are being > played here, I very much doubt that it is by the mineral owners, > but, instead, perhaps some shady landmen. Most are good, honest > people, but there are some who sully the trade. > We welcome all newcomers who will be civil, respectful to mineral > owners, tradesman, and the oil companies. We are ALL here to learn, > have some fun (like me and Elwood) and still respect that everyone has > something to contribute.... > Now, If Cdnbkkn, would like to try again with a little pleasantness , > maybe someone can answer questions that he has .... or, we can have a > smackdown for rudeness. > > On Oct 15, 2:44?pm, Duane <[EMAIL PROTECTED]> wrote: > > Take a good look in the mirror and then say good-by, we have been > > doing just fine without you or be more civil yourself and enjoy our > > blog. > > > On Oct 15, 1:13?pm, cdnbkkn <[EMAIL PROTECTED]> wrote: > > > > I'm not talking about a top lease. If that was what I had meant that > > > is what I would have said. I am talking about mineral owners making a > > > deal with one company to lease to them and then the next day making a > > > deal with another company for th > e same rights for the same lease term. > > > Which ever company files first gets the lease, but often it takes so > > > long to file a lease that in the meantime the mineral owner gets paid > > > twice for the same lease term. This IS illegal. > > > Also, I am unaware of the company that would openly OFFER a 25% > > > royalty. > > > > You seem very hostile and have a very attacking attitude. I don't > > > remember trying to shame mineral owners or crying in my soup. If this > > > is your idea of a disscussion group, you can have it. > > > > On Oct 15, 12:58?pm, "Rufus O'Malley" <[EMAIL PROTECTED]> wrote: > > > > > Double leasing is NOT illegal in North Dakota or any other US state to > > > > my limited knowledge - I do not know about Canada's laws on that. ? It > > > > is called TOP LEASING in the US. ?Company 'B' can offer a Top Lease to > > > > Mineral Owner that pays the MO $x bonus dollars per mineral acre, > > > > term, and royalty rates, and offer , let's say half of the money up > > > > front, and the remainder ONLY if the Top Lease kicks in upon the > > > > expiration of the bottom lease's primary term. ?Yes, the oil company > > > > or leasing agent are gambling that Bottom Lease Holder will not drill > > > > in the primary term, that it will expire, and his Top Lease will > > > > become the lease holder. Nobody forces them to offer top leasing. ?Top > > > > leasing can also get bottom lease holders of their collective fannies > > > > and get them to actually drill the lease instead of sitting on it. ?I > > > > would take a top lease in a heartbeat and not feel one whit guilty or > > > > shameful. Since I personally was not negotiating our last lease, nor > > > > did I have the knowledge that I have now, I have a lukewarm deal. > > > > Ignorance on the part of the Mineral Owner is BLISS only for the oil > > > > companies that take advantage of it. And, buddy, they have, and do, > > > > and will. ?So don't boo-hoo to me about the poor oil drilling > > > > companies. No Sale. > > > > And it NOT greedy on the part of the mineral owner to ACCEPT such an > > offer. Nor is it 'outrageous' if the drilling company is willing to > > > > accept or offer 25% to the mineral owner, ?or the mineral owner has > > > > such excellent negotiating skills to manuever such a rate. Kudos to > > > > the ones who have the cajones (ka-hone-ayes - you get the drift) to > > > > stick through the negotiating process to get that deal. I would buy > > > > THEM coffee! > > > > This is not a business for the faint of heart or the timid or jaded. > > > > This business takes guts and fortitude on all sides.... Survival of > > > > the fittest. > > > > The oil companies get plenty --- ?I have no pity in my heart for that, > > > > however, I have respect for their efforts, but without the mineral > > > > owner, what do they have, nothing to drill, that's what. > > > > It is in the best interest of all parties to 'get along' with respect, > > > > integrity, and forthright communication. ?I very much enjoy the > > > > discussions I have had with the exec in the company planning to drill > > > > my interest. I spoke with them recently, and had questions answered > > > > and asked what I can do to help them... so I got a lukewarm rate, not > > > > the bottom, not the best available, but that was only because of my > > > > family's ignorance... not because of the oil company. They had an > > > > excellent negotiator in their landman. ?We did not know what the > > > > market would bear.... I ?won't let it effect my ?relationship with the > > > > company because that would not be smart. There was nothing personal > > > > about the negotiation. ?Each side tries to get the best deal. It's > > > > Business. ?Stop trying to 'shame' mineral owners by what kind of deal > > > > they can negotiate. ?.... > > > > Rufus > > > > > On Oct 15, 12:47?pm, cdnbkkn <[EMAIL PROTECTED]> wrote: > > > > > > I said 25%+ royalties are outrageous. 12 to 19 are norm. No argument > > > > > from me. Lease rates per acre are what ever people are willing to pay. > > > > > Again no argument. It is double leasing (which is illegal) and > > > > > demanding so much off the top (royalties in > excess of 25%+) that will > > > > > create wells that may soon be uneconomic. > > > > > This is the greed I talk about. > > > > > > On Oct 15, 11:16?am, "Rufus O'Malley" <[EMAIL PROTECTED]> wrote: > > > > > > > Wow. I think I need to get in on this discussion, I don't have the > > > > > > time right now, but I will make the time. > > > > > > And, no and Hell No, that is not greed. ?You seem to forget that > > > > > > even > > > > > > at a 25%, (which, btw, is very rare) that still leaves 75% for the > > > > > > drilling company. > > > > > > They have been squeezing cheap leases out of mineral owners for > > > > > > decades in the Williston Basin of ND. ?Now it's time to pay the > > > > > > piper. > > > > > > Mineral ownera are not greedy, they are excited by the prospect of > > > > > > something never anticipated.... and they still have the respect for > > > > > > who came first, the oil companies or their ancestors...but they are > > > > > > not stupid people... this time they have the power to stand up for > > > > > > what is their birthrite...and they are learning just how to do it. > > > > > > And, Excuse me, who is OFFERING to GIVE a top lease???? The oil > > > > > > companies and/OR the landmen who are independantly speculating, > > > > > > that's > > > > > > who! ?Good luck to any mineral owner who goes 'shopping' for someone > > > > > > to lease their acreage! HA! ?It just doesn't work that way! I know, > > > > > > I > > > > > > tried it in the 8 years out of 55 years that we were not leased! > > > > > > ?Not > > > > > > even a nibble. ?Oh, sure, I got the 'give me a 6 month free option > > > > > > contract and I will see what I can do for you." ?The action out > > > > > > there > > > > > > is NOT instigated by the mineral owner. Never has, never will be. > > > > > > And, tell me exactly WHY you think that the ?laws of supply and > > > > > > demand > > > > > > should ?not apply just as equally to them as it does to industry? > > > > > > If the drillers are so abused by the mineral owners taking a fair > > > > > > share of the pie, (that's IF you call between ?12.5% to 18.75% which > > > > > > are the NORM royalties) they need to find a > different industry. > > > > > > Sounds to me like an independant driller having a snit about savvy > > > > > > mineral owners standing up to him about their lands and their > > > > > > minerals. ? They are rewarded for their R&D, planning and initiative > > > > > > with their 75%-83.3%-88%!!!!!!!!!!!! > > > > > > And nobody who has lived in the 'Bakken' areas forgets that the bust > > > > > > comes just as fast, if not faster, than the boom. I've lived it, as > > > > > > most on this board have lived it ... so I don't think your jaded > > > > > > impressions of the nasty old mineral owner will buy you much here -- > > > > > > better have your own coffee money. > > > > > > So, sorry Charlie, wrong tuna. > > > > > > Rufus O'Malley > > > > > > > On Oct 15, 11:47?am, cdnbkkn <[EMAIL PROTECTED]> wrote: > > > > > > > > Yes I do feel that many (perhaps not all) mineral owners are > becoming > > > > > > > greedy. I know of several instances where mineral owners have > > > > > > > double > > > > > > > leased their acreage to more than one company or have insisted on > > > > > > > royalties that are outrageous (25%+). Is this not- Hide quoted > > > > > > > text - > > - Show quoted text - --~--~---------~--~----~------------~-------~--~----~ You received this message because you are subscribed to the Google Groups "Bakken Shale Discussion" group. 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