Page 1 of 2
#1
Yup, so my grandparents' 80 acre farmland down in Louisiana might have some oil beneath it. Large landowners have been contacted by an oil company that has strong reason to believe there are significant sources of oil in the area. Many landowners have already signed agreements offered up by the company for leasing the land for exploration and drilling purposes. If oil is found on my grandparents' land, they would be earning rent from the oil company as well as four fifth's of the mineral rights. Since both of my grandparents are deceased, these earnings would go to my mother since she's the owner of the property now.

Quote by Article
Many people are hoping the next big oil rush will happen in Central Louisiana. Researchers said seven billion barrels of oil is in the Tuscaloosa Marine Shale, which stretches from Texas to Mississippi.

Many residents in the Avoyelles Parish town of Marksville have been approached by companies who are interested in leasing their land. Marksville Resident, Robert Dupuy, who said " it"ll be lots and lots of dollars like the Haynesville Shale if it happens."

Dupuy said he never hesitated for a second when representatives from Pride Oil and Gas Properties came knocking on his door asking if he was interested in leasing his land. He explained, "they asked us to sign a six-month option and at the end of the option they'd take a lease on half our land." Landowner Dyrel Dauzat owns 1600 acres in Avoyelles Parish. He was also approached about six months ago. He said, "only the larger land owners are being contacted. I feel once they block in the large land, then they'll go back and block in the smaller ones." Companies first started tried to tap into the the oil in Tuscalossa Marine Shale in the 1970s, but were unsuccessful.

The formation is 10 to 14 thousand feet below the land. When drilling first started in the 1970s, drills weren't advanced enough to get all the way down to it, but oil officials are hoping they have the right technology now. A new technique called 'fracking' and horizontal drilling is being used this time around. Many are hoping it's the key to unlocking the oil that was out of reach before.

Dupuy said he feels "the horizontal drilling is the ticket."


My question: what do you guys think about this? Anyone know anything about Pride Oil or have any experience with this sort of thing? My parents want to be aware of any and all risks and do a little research before they sign anything...
Quote by Overlord
It's not hard to be nice, but it's nice to be hard
#2
im assuming this is a metaphor and by oil you mean feces and by drilling you mean dildo in your butt.
Remember through sounds
Remember through smells
Remember through colors
Remember through towns
-Modest Mouse, "Novocaine Stain"
#3
I think you should seek someone with more legal experience than the average Pitmonkey.
I pride myself on my humility.
#4
Bring back the hooker diary.
Quote by jakesmellspoo
ooh look at me i'm ERIKLENSHERR and i work at fancy pants desk jobs and wear ties and ply barely legal girls with weed and booze i'm such a classy motherfucker.
#5
Oil companies will rip you off. Don't rent it to them. /Kumanji
Quote by Carmel
I can't believe you are whoring yourself out like that.

ಠ_ಠ
#6
Quote by NoLaurelTree000
im assuming this is a metaphor and by oil you mean feces and by drilling you mean dildo in your butt.


Well done.

Quote by denizenz
I'll logic you right in the thyroid.

Art & Lutherie
#8
Fracking is when they essentially "Shoot" high pressure steam/water/ceramic/debris/chemicals into the ground which decreases the strength of the rock, which increases permeability, allowing them to suck up the oil from the bits of shale.

The companies are not forced to tell you what they put into the ground, and it is a possibility that these chemicals could end up in the local water supply. Also, fracking has been known to cause low strength earthquakes, which average 1-2 in scale, but may exceed 6.

I took a Geology class this semester.

It seems like a good deal though, depending upon how much MONIEZ you get out of it.
#9
You're going to want legit lawyers, oil and wind companies have been at my grandparents' throats for their resources, and it can get really scary. Get someone who knows their shit to comb over EVERY part of any agreement.
#12
A surveying company actually performed some tests on my parents' 23 acre property in south-east Texas, but nothing really came out of it. They actually paid about $600 dollars for permission, though. That would be awesome if you were sitting on an ocean of oil.
#13


Do not trust this man.

edit: Damned ninja oil men
Quote by CV334

Sir, the contents of my mouth just blew all over my keyboard, desk, and part of my monitor. For the record, it was slightly chewed Keebler cookies and coffee slurry.

The average pitmonkey's response to my jokes.
#14
Quote by Crofty89


Do not trust this man.

edit: Damned ninja oil men

Same picture and all lol
#16
Quote by Zoot Allures
Make sure you check everything out and seek advice from an expert so you don't end up signing away everything.

Read as: Don't ask the pit.
Check out my punk band!!! Lizard on the Window We found a drummer and are now recording.

White Version FC: 4083 9268 4644
White 2 FC: 5372 8215 3622
3DS FC: 1676 4085 1677
#18
Quote by ali.guitarkid7
I really am jealous, TS.


Some people are just lucky I suppose


You live in the UAE, don't you?

Can't you like...dig a hole and strike oil?
#19
I suggest getting competent people on it and not like...


████████████████████████████
███████████████████████████
█████████████████████████
██████████████████████████
███████████████████████████
███████████████████████████
███████████████████████████
███████████████████████████
#20
Quote by blake1221
You live in the UAE, don't you?

Can't you like...dig a hole and strike oil?

This place is dryer than my mom's roast beef now.
#21
Fracking's not good for the environment, brah. Also do you really wanna have oil rigs all over your property?


Jay Turser: JT-134DC
Epiphone: G-400
Gibson: SG Special Faded Cherry

Line 6: Spider III 15-watt
Marshall Haze 40

DOD FX65 Chorus
Danelectro Fish & Chips EQ
EH4800 Small Stone Phase Shifter
Dunlop CryBaby Wah
Deltalab Tube Overdrive TO1
#23
Does this mean you'll be buying our Missile Base?
╘MESHUG╦G╗AH





Ibanez ARX 350
Dunlop 535Q
Ibanez TS9
Peavey TransTube Supreme
DRIVE Elite straight 412
#24
Quote by Carnivean


I might've struck OIL!

My question: what do you guys think about this?

Let me put it this way....

Come listen to a story about a man named Jed
A poor mountaineer, barely kept his family fed,
Then one day he was shootin' at some food,
And up from the ground came a bubblin' crude.
Oil that is, black gold, Texas tea.

Well the first thing you know ol' Jed's a millionaire,
His kinfolk said, 'Jed, move away from there!'
They said, 'Californy is the place you oughtta be.'
So, they loaded up the truck and moved to Beverly.
Hills, that is, Swimmin' pools, movie stars.


#25
This sounds like the beginning of some really shitty porn.
you're a stone fox
#28
Quote by Zoot Allures
Make sure you check everything out and seek advice from an expert so you don't end up signing away everything.

This. Just get a lawyer to read over the agreement
Quote by UntilISleep
You have excellent taste in literature, dear sir

Quote by Primus2112
You have excellent taste in video games, good sir.

Quote by GbAdimDb5m7
You have terrible taste in signatures, idiotic sir.

kkoo
#29
Does your mum love you? Does she care for your future?

If so, tell her to hold onto it for 10-15 more years. Then we'll see the price that is offered.
#30
Awww yeah first real Joystick jet kill!

Edit wrong thread lolwut
Last edited by FearMyLightning at Dec 17, 2011,
#31
Quote by ali.guitarkid7
This place is dryer than my mom's roast beef now.

Your mother's roast beef isn't that dry, you just have to put your penis deeper.
Quote by tattyreagh
He's the hero The Pit deserves but not the one it needs right now. So, we'll hunt him, because he can take it. Because he's not our hero. He's a silent guardian. A watchful protector. GbAdimDb5m7.


Free Jani92jani

Free Will Swanson
#33
Quote by ali.guitarkid7
This place is dryer than my mom's roast beef now.

That's a metaphor right?
#34
Well, if you left the decision to us... I'd say donate all the land to me, and I'll sell it all to the oil company and make a shitton of money to pay for school/cars.
I can honestly say I have really been far even as decided to use even go want to do look more like.


I don't always post on UG, but when I do, I post in the Pit. Stay thirsty my friends.
#35
If I ever strike oil in my grandparents garden, I am literally forbidden to do anything with it, by law, that gives me any personal remuneration.
Never imagine yourself not to be otherwise than what it might appear to others that what you were or might have been was not otherwise than what you had been would have appeared to them to be otherwise
#36
Quote by a_7_x
Does your mum love you? Does she care for your future?

If so, tell her to hold onto it for 10-15 more years. Then we'll see the price that is offered.

This. It'd be worth so much more if you hung on to it.


However, if you do go ahead with it, buy me a new amp?
#38
Quote by ErikLensherr
Bring back the hooker diary.


This.
Quote by willT08
Quote by HowSoonisNow
How was Confucius death metal?
You've clearly never read any Confuscius.

As I wait on the edge of the earth,
I can see the walls being torn down again
Only to be rebuilt in another name,
On a different day
#39
A new technique called 'fracking' and horizontal drilling is being used this time around.

Fracking is shit. Don't do it if you like having potable water.

[IN PHIL WE TRUST]


Quote by Trowzaa
I only play bots. Bots never abandon me. (´・ω・`)

Page 1 of 2