FORTRESS MANAGEMENT AND PETROHAWK
has anyone signed a lease with petrohawk through Fortress?
I was told that the royalities are 25%..but the small print says that out of the 25% we are responsible for processing the gas out of our royalties.
If that's the case..then the royalties woud be alot less..
anybody know if this is true???
thankyou.
I was told that the royalities are 25%..but the small print says that out of the 25% we are responsible for processing the gas out of our royalties.
If that's the case..then the royalties woud be alot less..
anybody know if this is true???
thankyou.
Views: 144
Replies to This Discussion
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Permalink Reply by Snake Stewart on
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If the small print states this, then you will be responsible for costs associated with getting the gas to market per say. I really don't know if there is a standard by which they can or can not charge whatever fees they would like. I hope that someone with expertise in this area will chime in.
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Permalink Reply by mooncookie on
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Don't you yourself represent a negotiating group?
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Nope ! We haven't started negotiations yet. I may not even be on the commitee .
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Permalink Reply by RONNY on
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If you yourself have not seen and read the actual lease in question DO NOT trust hearsay. Much false information about this play is perpetuated by hearsay. Good Luck.
Ronny
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Hello Mr. Ronnie , If you are refering to me , I clearly stated that "if the small print states this" then they will be responsible for costs. If you are privy to info from a Fortress lease standpoint then this lady could certainly use your help in answering her question. I would take your last statement one step farther and say that out right lies have been perpetuated on this site from some of the O&G's and probably from landowners as well. You certainly need to be able to separate the wheat from the tares.
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Permalink Reply by Les Bamburg on -
Angel, it would be beneficial if you posted the exact verbage. There could be several potential meanings.
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Permalink Reply by RONNY on
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Hello Mr. Snake, I was not referring to you but to the original post. I recall attending a Fortress meeting early on and hearing the statement "We will negotiate a lease for you we would be willing to sign ourselves." I hope the Fortress guys are smart enough not to sign a lease without a NO-Deduct clause. I stand by my statement to only believe it if you actually see it. If the lease includes language reducing royalties for expenses I would not sign it. Thanks.
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Cool , I agree with you 110 %.
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Permalink Reply by Angelonmyshoulder on
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Thankyou all for your info.
I haven't gotten my lease yet..I just thought someone might have already seen a lease from petrohawk.. I have really no clue ... some people have told me to hold out for 2-4 yrs. and by then the bonus would go up to 40,000 or more.. don't know if thats true either
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Permalink Reply by hvmyles on
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I am also a part of the fortress management 19,000 offer from Petrohawk. I have not seen a lease and neither has any of my friends with this offer. I have been calling and checking the website (fortressmanagementllc.com), but it is very inconsistent. First, they will call a group in to sign the w9 form and after this call you back in to sign a lease. I have asked to see this lease or email it, but alway an excuse. When calling the office, the answering machine is alway on, and they never call back. I would like to see the lease with the provision, before being called in to sign. Something is going on. Help!!!!!!!!!
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What is a w9 form ? If you have a question about your lease provisions I certainly wouldn't sign anything that I wasn't 100 % sure about. You ceratinly aren't asking too much to see the lease agreement. I was under the impression that they had a lease agreement that they used all the time.One that they would sign !
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Permalink Reply by Melanie M on
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A W-9 form is an IRS Form that is required when you are recieving funds from a company. It is used to obtain your correct social security number or tax ID number. This is standard procedure with any business when setting up a new vendor in their accounting system no matter what business the company is involved in. The W-9 form has nothing to do with the lease itself.
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