It is reasonable to assume that the likes of Devon, EOG, Chesapeake or XTO would come to Hemi's doorsteps if Hemi holds a lease in a pooled area of the Barnett shale that they want to drill. It is correct legally that the operator would need to have 100% of the mineral rights holders under contract before they start to drill. That would get Hemi into some negotiations over that particular piece of land and perhaps Hemi could make some good financial gain and royalty's on the deal.
What is not reasonable is to think that a multi billion dollar NYSE listed O/G company of the likes mentioned above would want to buy out Hemi for their ND,TX,KS leases... That seems far fetched to me and is surprising it even comes up as a scenario at all.
If / when Hemi gets that end game buy out, it will likely be from a small cap / medium cap operator who wants to increase their interest in a particular geographic area. I see a separate deal in ND, a separate deal in KS, and so forth.
[edited voluntarily by bdahl385 from my earlier post]
