Saturday, March 31, 2012

Taking the weekend off. First time in about three weeks. I am so looking forward to it.

BUT, I sure need to do some yard work. I had a yard girl but recent developments have done away with that. Makes me sad for her as she always looked forward to the money. Usually an evening at Prime Time.

The exercise will be good for me. But, I need a new weed eater. My old one still runs well, but has a broken throttle trigger and a fuel line that is leaking. Problem is, the fuel line is a really odd size and is routed through a housing and domestic tubing with the right inside diameter is too large outside diameter to go through the housing. I talked with a repairman and he told me he has never been able to buy the fuel line, he usually takes the fuel line from a weed eater that shells the engine.

Oh well, I am really wanting a new Ryobi and would love to have the pole chainsaw attachment as well. They got some really nifty attachments. Blowers, hedge trimmers, roto tillers, edger. I bet a guy could spend close to a thousand dollars if he bought all the attachments.

I am mentally and emotionally spent from dealing with oil and gas. Every time I think it is done, new issues come up.

My latest project has been what they call subsequent acreage, or interests that Memama owns a portion of the oil and mineral rights while not owning the surface. I believe I finished that project yesterday and she has thirteen tracts the lawyer is looking into. I expect eight or nine will prove true.

I have made some observations about the oil and gas opportunities.

A few months ago, no one was thinking about oil and gas. How that changed with a phone call. I can remember taking the initial phone call while plowing, and during the course of the conversation I began jotting down notes in the dust inside the tractor cab. This past week I could still see a few of those notes that have not been wiped clean.

Let's say that I too had visions of sugar plums dancing in my head. Oh, the possibilities! But let me add that I have no acreage, my farm having been foreclosed on and sold on the Court House steps in 2004 in the aftermath of the family business.

My task has been to look out for Memama's interest.

People say that when an individual comes into a windfall one of two things happens. Either they become very generous or they become obsessively greedy.

My observation is that the people who expected the most from their good fortune have more issues and disappointment than those who expected less.

I will admit, I recommended and made a deal on a new plow for Memama's farm planning on using some of the revenues from the oil and gas. Other discussions have taken place involving upgrading the big farm tractor and replacing the multi-pickup farm fleet with a new, heavier work truck. I have been in no hurry, wanting to be sure it came down the way I thought it would before taking any additional plunge.

Two major factors in the discussions have been "need" and "tax planning".

I sure don't want to give Uncle Sam more than his due.

In a meeting yesterday with our oil consultant, I was settling Memama's account with him and he informed me that his work was done. He will not be involved in the subsequent acreage negotiations. In one sense this is agreeable with me and in another it irritates me. I guess I will reserve judgement until I have need to call him and either he comes on the line and talks me through my problem or doesn't take my call.

To say the very least, this whole experience has been educational. Many people jumped in early for as little as $50 an acre while others still hold out wanting $750 an acre. Lots of information and terms to be learned and waded through. But we are all smarter for it.

We weren't on either end of this spectrum dollar wise. We took our time (almost two months before signing letters of intent), we hired someone who knew more than we did about the business and the process, and I am very satisfied with the results to this point.

Only GOD knows where it will go from here. All in his time, all in his way.

We are blessed, and my sweet little Momma deserves it.

My sources say the rush is over. Most of the independents have spent their lease monies, while the larger oil companies and their shell companies feel the market has over priced itself and are pulling out. Their will be some continued action, companies filling in holes, subsequent acreages and interests, looking for heirs, but the big rush big money is probably over.

The market has been set.

The lease companies will begin assessing their acquisitions and begin trading acres to complete blocks. Then in another six to twelve months they will be back for one last flurry of leasing.

So as our consultant told the story, "The bird is in hand, while the fairy tale is still being written".

I have loved that analogy. The sure thing is the lease bonus while the fairy tale is whether the prospects are developed and produce.

Hopefully after another meeting with our attorney, I can get back to farming.

My brain needs to just ride around on a tractor for a while.

I did catch a favorable wind yesterday afternoon and sprayed the final strip at Wastella. For several days I had lacked a swath four hundred feet wide and almost a mile long. The neighbor to the North has winter wheat and with my spraying Roundup the prevalent South and Southwest winds, I had gotten as close as I dared. Finally, after lunch yesterday the winds had moved to the west and eventually from the North Northwest.

We mixed three-quarters of a tank and I made quick work of the remaining acreage. In fact I had some chemical left over and went by Pepa's sisters farm and sprayed where several cotton trailers had been overturned (My farm help and I had righted all the trailers earlier in the week), an area previously inaccessible to the spray rig.

I still have nearly eighty gallons of chemical mix left, and will probably spray it out in the ostrich pens at Memama's when I have the right wind.

Next up is pressure washing the spray rig.

We found a blown fuse on the big tractor air conditioner, so that was a stoke of luck.

The Big DCIII field cultivator was supposed to be field ready. It wasn't even close. We have been working on it, leveling the mainframe, and trying to level the wings. I have been reading the operator's manual and obviously it was written by an engineer who must have run a train at an amusement park.

We did everything they said yesterday for final prep before going to the field, but during the night I woke, realizing they were very correct in leveling the plow, but not with it plowing. I am afraid we will have to undo lots that we did.

If weather permits, I plan on beginning to plow on Monday at the section.

I say if weather permits because they have had rain and or thunderstorms in our forecast since Tuesday and just keep sliding it. Last night they said Monday rain chance and show heavy clouds, lightning and raindrops.

Next project after the plowing is to change the row widths on the new planter. It came set at 36" spacing. We have always adhered to 40" row spacing (all the way back to Gon Gon) although the more modern trend is to go to 30" spacing.

For the first time in several weeks I feel like I am catching up to things.

Whew, and that is a good feeling. I want to get caught up and stay on the leading edge.

With one day devoted to Memama's Abilene appointments each week, usually a day per week (at least) devoted to the attorney's office, that leaves me kind of handicapped with a three day work week making it very probably and necessary to work the weekends.

I do appreciate the fact that I have some help at the farm. Not the smartest, not the most experienced farm hand, but young and strong and willing. Plus he needs the job right now. My biggest hope is that he can finally get on his feet and not have to borrow money from me this week. So far he is in to me for $140. He asked me to hold $70 out yesterday but I was explaining that the cash loan is from my pocket, not Memama's. I told him to think it through, if he wants to pay $50 or $70, and to bring me cash money back.

He has mowed and weed eated around the barn. He brought his new weed eater, a Stihl model that features a 72cc engine. That is larger than my first motorcycle engine! We are to a point where we may re-mow everything with the riding mower, just to clean it up again. Larger areas have seen the shredder, confined areas the weed eater.

We have been trying to get Pepa's old DR Trimmer running. Memama's new DR Trimmer, last seen behind the tire shop, has still not come home.

Somewhere we are going to begin clearing fence rows and stacking firewood. I haven't quite figured out how I am going to do that. Part will be by chain saw, part will be with an excavator, but hopefully all of it will be cut to fireplace length and stacked in cords. Only the smallest limbs will be burned. I may pay my man his regular wage and retain ownership of all the wood, or we might go to half pay and every other cord is his to sell, we provide the chain saw and the gas.

Rian has always said we need to load a big trailer with mesquite fire wood and sent it to Lubbock he says it will go for about $220/cord, maybe more. Half cords $150.

Wow.

Well, I have typed away most of my morning. Better get.

Have a weekend!

FATHER, thank YOU for the weekend. Rest me quickly and rest me well. Thank YOU for YOUR many blessings and for the opportunities YOU present us with. Help us to take advantage of them. Help us to make good choices. Forgive us when we fall short.

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