WHAT'S A LIE? WHAT'S MISLEADING? & WHAT IS FRAUD?
We've all heard, the landman said "*%#$^" and now I find out that it is not true or it is misleading, or it is a common scare tactic.
So lets discuss what constitutes outright fraud, what is a common scare tactic and what is a downright lie. And what the implications are for each.
A friend of mine was told they wouldn't drill a well for at least 3 years. Now they are ready to drill after 1 year. Problem is he only owns 1/2 of his minerals and won't own the other half for another year. He definitely would not have leased.
Was the landman misleading, lying or did he commit fraud.
Lot's of us have similar stories. Let's share them with each other, so no one else will fall for the same line.
So lets discuss what constitutes outright fraud, what is a common scare tactic and what is a downright lie. And what the implications are for each.
A friend of mine was told they wouldn't drill a well for at least 3 years. Now they are ready to drill after 1 year. Problem is he only owns 1/2 of his minerals and won't own the other half for another year. He definitely would not have leased.
Was the landman misleading, lying or did he commit fraud.
Lot's of us have similar stories. Let's share them with each other, so no one else will fall for the same line.
Tags: Fraud, Lies, misleading, statements
Views: 167
Replies to This Discussion
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Permalink Reply by Kassi on
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It would only be fraud if he knew for sure they would be drilling in the time frame your friend was concerned about. I am not even sure it would ruly be fraud then..But, I seriously doubt the land men have any clue when the company will drill where other than to guess based on where they are told to lease.
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Permalink Reply by Bobi Carr ("parker") on
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The problem with fraud is it is so hard to prove.
I doubt that he knew when drilling would occur, but he sure didn't have a problem asserting that drilling wouldn't occur before my friend received 100% minerals by prescription.
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Permalink Reply by Randy on -
The timeframe for drilling really has no bearing on your friends land or his ownership of the minerals. Unless he owned the majority of a section and could stop them from drilling by not leasing. I doubt that would be the case though.
If you friend didn't lease they would still be drilling most likely.
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Permalink Reply by po boy on
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Am I correct that only 80% interest is needed in a section to drill? and this section can be created by pooling areas in other sections?
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Permalink Reply by Bobi Carr ("parker") on
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On his small property of an acre you are correct it doesn't mean beans to the overall opertation. So if the company didn't need his 1 acre - why lie?
The landman made statements to him that swayed his decision.
I am not stating that this is fraud, but it would have been a deal killer for my friend.
So is this misleading, a lie or fraud.
Since you are a landman, what's your opinion?
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Permalink Reply by Bobi Carr ("parker") on
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Mr. Warr,
Is this how you would answer the question?
It doesn't really matter because the small landowner wouldn't be able to control when it was drilled anyway.
It would have mattered to him. He made his decision based on the information that he was given.
Don't worry Randy, he has no intentions whatsoever of filing suit. He didn't even sign with Twin Cities.
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Permalink Reply by Wade on
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As having already spoken to an attorney concerning this matter, fraud is difficult to prove. Landmen are representatives for the company they work for. In some cases they may have multple companies they sub lease to - drilling companies. It may be worthwhile to speak with a manager of the leasing co. HOWEVER - getting a judgement in your favor to set aside your lease may do you more harm than good. If your lease agreement has x$ as a bonus and say 22% royalties and you have your lease set aside. How soon do you think you will resign with another co. or that same one again?? Then you are subject to forced pooling and you will recieve the same % royalties but no bonus and could possibly recieve a smaller % in royalty income; based on what your neighbors signed at. Each situation will be different. I have chosen not to persue the issue. My dad hated to be lied to. Now I really understand why.
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Permalink Reply by Bobi Carr ("parker") on
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This is what it says on Timmy Bob's page:
This site can kiss my a**. I am a Landman and you ungrateful a**holes over there in Louisiana ought to be thanking God for landmen and oil companies right now instead of trashing us. You couldn't but a used Kia before this play hit town.
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Permalink Reply by Bobi Carr ("parker") on
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I think this is what a lot of them feel about us.
What's the matter Timmy Bob won't they let you play in the shale?
Do you want to sell me your used Kia?
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Permalink Reply by Bobi Carr ("parker") on
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I had to bring that to the main board. Just to tempting.
I don't think this is what most landmen are like. I have met many that are honorable hardworking people.
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Permalink Reply by Two Dogs, Pirate on
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I would think that the oil companys got a little miffed also Timmy. It is just gonna take longer to get a lease, thats just means more money in the Landmans pocket. Whats wrong with the landowners wanting it all, wouldn't you?
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