KB, I'm sure lawyers on the other side could argue for days as to why Judge Hicks' ruling was brilliant. Personally, I fear we are tinkering a bit too much with contract law @ the national level. But I'm no lawyer and don't want to be one. Just tell me the rules we're playing by.
I am in need of help in trying to decide what to do with a problem of non payment on my signed lease. Do you know of any post (with case-law if available) on GHS already or, if not, the best way to obtain options in forcing the leasee to pay up? Do I need to start my own post? Your help would be most appreciated.
You may want to consult with an attourney. We are good at supposing and commenting, but if you truly seek good solid advice, get a lawyer. Try to get a oil and gas lawyer who was doing oil and gas before the shale....
....there are many lawyers now trying to capitalize on the shale who have little experiance with oil and gas law.
The Baron is correct, contact an attorney. You may not have a valid lease because you have not received consideration (money). Make sure you an oil 7 gas attorney or a good real estate attorney.
Have you given the executed lease to the company/rep. ?
Folks, contrary to the current political environment and outside of blatant fraud, it is the responsibility of the property owner to manage his own affairs. The oil and gas companies have no responsibility to educate the potential lessors in the midst of a trade. The owner is a big boy, so to speak, and owning property carries with it the responsibility for managing that property to the best of his/her ability and sometimes, that management may require obtaining qualified legal, geological or other opinions. The oil companies do not owe anyone the benefit of their knowledge. Again, I don't see a thing wrong with the court's decision but do see a lot wrong with people expecting to "re-trade" a deal after the fact. Gut up and do the homework before you sign the trade papers.
In a court of law, there are differences in the abilities of the lawyers presenting their cases. In cases with a jury, many times the "rule of law" is not what decides the case. ("if the glove doesn't fit, you must acquit" comes to mind) It is the presentation of the same by the attorneys that makes a huge difference. With your insistence on the O&G companies being made to show their hands prior to negotiating deals, should both sides of a legal dispute be required to use the same lawyer? That would be a no less a ridiculous assertion than requesting O&G c's to show their hands in negotiation of deals.
As a heads up, there will be times forthcoming where marginal wells will be drilled and believe it or not, dry holes drilled. Wonder if the O&G co's should ask for their lease bonus money back when that happens? That would be an absurd request also.
I know you will not agree, but I just wanted to represent the business side of the equation.
How true, KB, in most cases that is. The lawyer I've used on real estate deals over 15 years or so advised me that $100-$200 an ac was 'about the going rate' back in April 2008. Glad I didn't take his advice on that.
As exciting as this is, we know that we have a responsibility to do this thing correctly. After all, we want the farm to remain a place where the family can gather for another 80 years and beyond. This site was born out of these desires. Before we started this site, googling "shale' brought up little information. Certainly nothing that was useful as we negotiated a lease. Read More