Replies to This Discussion

Permalink Reply by Mit on August 9, 2008 at 10:34

I assume specifics exist in the lease contract that you do not like. It really doesn't matter even if you want more money or royalties. He would have shown up at your house with a contract and a check if he wanted to lease your land bad enough. Were you supposed to sign the lease and mail it back to him? When were you going to get your money?

This should be a lesson for everyone. If you want terms & conditions within your lease to be different from the standard O&G lease, then bring it up in negotiations. I would not sign without money exchanging hands.

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Permalink Reply by noaah on August 9, 2008 at 11:38

Yes, we have been instructed by the landman to sign the lease and get it notarized, then mail it back to him ASAP. He would then forward a check by mail for the bonus money. We live out of state and are learning things as we go like many others. Unfortunately, we did assume we could read the written lease and negotiate any changes (other than the bonus money, royalities, and an indemnity clause, we had not discussed in depth other items); he is insistent that we sign it as is and mail it back - sticking to his "we had a verbal agreement"

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Permalink Reply by Jaybird on August 9, 2008 at 12:04

I have to jump into this one....:o)

If I go to the drive thru at Burger King, I look at the menu and see that the meal combo # 1 comes with a cheeseburger, fries, and a drink....So I order at the microphone box and pull around to the window. When I get to the window they tell me that the fryer is broken and the carbonation mixer is broken....so all they can give me is the cheeseburger for the full price of the meal combo.

Do you pay full price or drive away?

Jaybird

P.S. Put it in drive!

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Permalink Reply by Two Dogs, Pirate on August 9, 2008 at 12:13

Jim, wasn't it Amarillo Slim that bet a professional golfer that he could knock a golfball farther than he could?

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Permalink Reply by Bobi Carr ("parker") on August 10, 2008 at 17:11

Do not under any circumstances even negotiate with this landman. Find another company altogether.

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Permalink Reply by CWGray on August 11, 2008 at 5:49

It is my understanding that if it isn't written, it isn't legal or binding. My recommendation would be to speak to an attorney before you sign anything. The landmen are famous for pressuring unsuspecting landowners into signing away their rights and this is just another way to do that......Don't sign anything.....Just think about it, If the verbal agreement was binding, why is he insisting you sign a lease?

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Permalink Reply by RAY on August 11, 2008 at 6:11

video: if it aint live, it aint me
verbal: if it wasnt recorded, I didnt say it.

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Permalink Reply by Gone Fishin on August 11, 2008 at 7:15

the best way to deal with someone thats dishonest is not to deal with them at all. You will always come out with a bad deal.

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Permalink Reply by jkw3 on August 11, 2008 at 7:49

As VP-Land & Legal of an exploration company active in the Haynesville/Bossier Shale play, it upsets me (but does not particulalrly surprise me) to hear of any high-pressure tactics being utilized by some field landmen. Please realize that most of these field landmen are sub-contractors working through large brokerage firms for the individual exploration companies. Though not direct employees, brokers and sub-brokers do represent the exploration companies (if only indirectly) and their abuses will naturally be attributed to the exploration company. They will be gone as soon as the leasing is done, leaving the operators who will actually do the drilling and producing to deal with the problems created by questionable statements and promises made by a few field landmen/sub-brokers.

If you have a problem with a field landman, my advice is to first contact the brokerage group and make a complaint. Contact the company for whom the brokerage group is acquiring leases. My company has removed brokers upon valid complaints of mineral owners. You may also contact the ArkLaTex Association of Petroleum Landmen in Shreveport or the American Association of Professional Landmen (AAPL) whose national headquarters are in Fort Worth. The AAPL bylaws require its members to abide by certain professional and ethical standards. Unfortunately with this land rush atmosphere there is an influx of new people into this part of the business who are not AAPL members, who don't subscribe to such ethical and professional standards and who are looking to acquire leases any way they can.

The bottom line is do not deal with anyone with whom you are not comfortable and whom you don't trust. Understand what rights you own and your rights to deal with your mineral and surface interests. An oil and gas lease, like any other contract, is an "agreement". If you don't agree to the terms, don't sign.

Oh yes, as to the "verbal agreement", there is none in Louisiana! Any agreement dealing with immoveable property (of which land and mineral servitudes are included) must be in writing to be enforceable.

With as much money as is being passed about in this lease play, there is an attraction to those who seek easy money. Be careful. Do your homework and try to deal with reputable people and companies.

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Permalink Reply by noaah on August 11, 2008 at 9:12

THANK YOU so much for your input! While this "boom" is a blessing from God, this pressure from the landman regarding the verbal agreement and his implication of "legal ramifications" if we don't sign sure have caused many nights of no sleep! Needless to say, we've not signed, but just can't convince ourselves to move on and hope he won't somehow tie us up in court or who knows what. We truly appreciate all who have responded - again, like many others, we are learning as we go!

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Permalink Reply by po boy on August 11, 2008 at 11:53

jkw3, Thank you for posting. We value real, factual answers from people who actually know.
Most of us are here seeking knowledge to make informed decisions-many of our questions may seem silly but we honestly do not know and are sincerely seeking ti educate ourselves. Please stick around.

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Permalink Reply by Diann Walker Coleman on August 11, 2008 at 8:58

ANY contract dealing with land under English Common Law or The Napoleonic Code MUST be in writing..Do not deal with this fraud ...period...You owe him your disdain only

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