AboutDavid Traugott Expertise I can answer questions related to the technical issues associated with the drilling and completing of oil and gas wells; very familiar with the cementing process and LWD tools. Limited knowledge of mineral rights and/or royalties.
Experience Twelve years working as an engineer in the industry both in the field and in the office. Field locations include offshore, land, and overseas. Office locations include Lafayette, LA and Houston, TX.
Organizations SPE, AADE, IADC, API, IEEE
Publications SPE Drilling and Completion Magazine
Education/Credentials -Bachelor of Science in Electrical Engineering, 1995
-Currently working on MBA, 2010 (anticipated)
Past/Present Clients Major and Independent Oil and Gas Companies.
Question Devron has had a lease since 2001, I bought the land in 1978. Two wells exist with a 1/2 mile south and 100 yards East. I have 1/2 rights to oil,gas etc. Devron has paid $330 for 3 year leases. With the existing wells (one recently reworked) and the Barney Shale on mind, this seems a little low and could the oil/gas be pulled out from under me? The landman is rather obnoxious when I wish to discuss their intentions. Do I have a chance of finding an independant driller for 12.5 acres or should I gather the neighbors into a group?
Answer You can always hire your own independent landman or attorney and let them deal with Mr. Obnoxious. Here is a link on how to negotiate the terms of a new lease.
Another option would be to hire a turnkey operator to drill and complete the well(s) for you (although this will probably be quite expensive). However, they may agree to drill and complete for a share of the royalties, you'll just have to see what kind of deal you can work out; see the link below.
