Skip to main content
Help Center Community Shop

Cornerstone Energy??? Every here of it?

Captplaid
It is supposedly an oil exploration company. Never heard of it. Mom go a call from this company. Turns out my Grandfather's step father bought some worthless ground way back when. It was worthless ground. He sold it and kept the mineral rights. While Mom didn't know about it, I remember Grandpa telling the story, and it's worth keeping the mineral rights when selling ground.

Well, this company is know calling inquiring about the mineral rights for this ground for oil. Yeah, it gave Mom a night of fantasy's about $$$,$$$,...

I never heard of the company and nothing is turning up doing a simple internet search except an address in Huston for a "Corner Stone Energy" in Huston, which is not related to the natural gas company "Cornerstone Energy."

So...Anyone heard of it?
0

Comments

17 comments

Date Votes
  • spanielsells
    No, but I agree with your grandpa. Keep mineral and WATER rights whenever possible.

    They can sometimes be worth more than the land itself.
    0
  • ljwrench
    http://www.cornerstoneenergy.com/html/cei_index.shtml
    0
  • Captplaid
    quote:Originally posted by ljwrench
    http://www.cornerstoneenergy.com/html/cei_index.shtml


    Yeah, I think that's the natural gas company. I don't see anything about oil. Interesting though, I think one of there other names, Northern Border Pipeline, goes through the farm.

    nb_mapNEW.gif
    0
  • ljwrench
    Maybe they want to drill for natural gas.
    0
  • dpmule
    where is this property area? State?
    Questions to ask around
    Is this area known for
    Oil production, stripper wells, small fields ,etc.
    Natural gas, producing wells, storage field, etc.
    CBM (Coal Bed Methane).
    With the energy situation, things change in a hurry. A friend whose place in Texas, that wasn't worth drilling on 20 years ago is now netting him $8500.00/month and each lateral or new hole is going to make him more.
    0
  • soop
    Our place is being seismagraphed now. We leased it a few months ago. There hasn`t been any drilling activity since the 80`s. When opec opened it`s oil spiggot back then it wasn`t worth pursueing.Now they are back. Always keep your mineral rights.
    0
  • Captplaid
    quote:Originally posted by dpmule
    where is this property area? State?
    Questions to ask around
    Is this area known for
    Oil production, stripper wells, small fields ,etc.
    Natural gas, producing wells, storage field, etc.
    CBM (Coal Bed Methane).
    With the energy situation, things change in a hurry. A friend whose place in Texas, that wasn't worth drilling on 20 years ago is now netting him $8500.00/month and each lateral or new hole is going to make him more.



    That's a good question. We don't even know. Heck my mom and aunt didn't even know about it, just me and Grandpa second wife. I know it's Oklamhoma, but that's kind of a big state.

    SOunds stupid right? I know my Grandfather's step father owned mineral rights to a piece of property his father once owned. For whatever reason, this guy has has done the paperwirk to trace down the owner of the rights.

    My grandpa's step father was a real deadbeat, with no children of his own. e was such a deadbeat, that when this guy inquired to his brother and sister's heirs about him, their immediate response was our families had nothing to do with the guy, so he bagan searching for the the step son to the property.

    Yes, I am curious what is on the property to make someone inquire about it now. I am also very skeptical about motives.
    0
  • dpmule
    Understand it's not what's on it, but under it. and the proximtiy it is to other producers. It's complicated to explain, but section lines on surface property goes straight down. companies can olny drill so close to section lines and even if the surface location or the rig is on your neighbors place and seismic shows to be able to follow the pay they need to cross onto your place, then they must lease your place to do that,that means they would have to compensate you by % of production or flat rate lease money, etc

    the oil/gas companies have land men that do just what you are saying and they search the books at the assessors office and try to track down all loose ends because they can't have drilled 4 producers and are giving your Grandma her % and then have 14 cousins pop out of the woodwork.

    Find out the general area and send me a email, I have several buddies working in OK as we speak as drilling consultants and they could maybe shed some light as to the drilling/production situation in that area.
    Hope that helps
    0
  • Captplaid
    This actually and strangely sounds legitimate. It is Cornerstone Energy listed above. If mom got the information right, who often gets things somewhat mixed up, Cornerstone bought 25,000 acres from Infinity. They own half the mineral rights but are searching for who ever owns the other half.

    185 acres of mineral rights in Mays and Rogers Counties in Oklahoma, for natural gas from Woodford Shale. It had been pumped decades ago, but their might be potential through newer technology to pump more out of there.

    Supposedly, they would offer the mineral rights owner $10,000 for the right to drill test wells over 3 years, then potential royalties after that.

    Sounds strange. Someone calls you up and says we want to give you money. Negotiating mineral rights is not something normally done in Illinois. Is there much to negotiate about, or take whatever they give you?
    0
  • Talented
    so by owning land over there u also have the mineralrights to that property ?
    Very cool then , coz over here anybody have the rights to claim whatever property if they find minerals there...
    So even if u own the ground they can force u to sell if they find minerals there...[xx(]
    0
  • buschmaster
    contact the legitimate company you found and ask to speak to the guy that is supposedly from that company.
    0
  • dpmule
    negotiate, but you will need to find out what is going on in the area, who drilling and leasing what and what's being paid, because you can bet CornerStone's not the only player around. This way you can accurately pick what you want to negotiate towards.
    I'll speak with my buddies with the info you posted and get back to you.
    My guess is that it's legit, nothing strange about them knocking on doors or making phone calls to heirs out of state to try to lease surface ground or mineral rights, you are luck because you have the mineral rights, surface owner generally only get trespass fees and ponds/roads built
    0
  • spryor
    Several years back my mom got a call from a childhood neighbor (in southern ILL.). Said they'd been drilling nearby, and thought mom's dad may still own the mineral rights to that land. We looked into it, and turns out he did. May even be with the same co.

    Anyway, the folks got a pretty decent windfall from it, and still get monthly check, but not alot of $.
    Dad was inquireing into somewthing about it once and they made an indirect threat. A rep said something to another relative that "well, we'd hate to see something happen to someone..", or sumsuch, so Dad didn't persue it.
    0
  • soop
    Find yourself a lawyer that deals with oil leases.It will save you alot of trouble.We spent a year dealing with different oil companies trying to lease our property. They have there way of giving you something in one paragraph and taking it away from you in another. A good lawyer will find this crap before you sign and make a mistake that could cost you big money. THEY WILL TRY TO SCREW YOU,they are an oil company.They already do it to you at the pump.Don`t let em get you at the well too. I`ve seen it. We had oil wells in the 80`s.Fortunatly we had a pretty good lease back then too,but several neighbors got took.
    0
  • dpmule
    quote:Posted - 08/08/2007 : 8:18:30 PM
    Find yourself a lawyer that deals with oil leases.It will save you alot of trouble.We spent a year dealing with different oil companies trying to lease our property. They have there way of giving you something in one paragraph and taking it away from you in another. A good lawyer will find this crap before you sign and make a mistake that could cost you big money. THEY WILL TRY TO SCREW YOU

    +1 /X-ring/bullseye

    Information I got back was that WoodFord shale is a ntural gas play in those counties and that El Paso Natural gas has a storage field in that area, so CornerStone may be trying to get some local production to sell EPNG or have leases bought up to sell to EPNG in case they want expand their storage field.
    Best advice is SS's quote above, but too add,I would get references on law firms in Tulsa as it's close by and they'd be aware of the local game.
    0
  • BigGun74
    I don't know anything about the company but I do know that an oil and gas lease usally doesn't bring in big money for the mineral rights holder unless the Oil and Natural Gas is not only present in large amounts but also can be extracted in large amounts. And it is still only a pittance compared to what the producers will get. Oil and gas leases are very specialized and complex with all sorts of strange terms and conditions.It is nothing at all like a standard land lease. You need to find an Oil and Gas attorney to explain what they can and can't do and what you should get paid. Most regular attorneys (except in Texas) wouldn't even know where to start. Even if this company is totally legit, you go in without your own Oil and Gas lawyer you are going to end up getting hosed.
    0
  • Captplaid
    YES, the challenge will be to find a lawyer knowledgeable in this area, and your right, a lawyer in Tulsa would be even better. Dad thinks his lawyer "Jack" is the greatest and knowledgeable on everything. I haven't been impressed with "Jack's" last few pieces of work, including but not limited to $500 for a basic C&P will.
    0

Please sign in to leave a comment.

Recent Activity