Replies to This Discussion

Permalink Reply by Geologist on October 21, 2011 at 2:43

This is why it is so important to be diligent about researching the lease provisions prior to signing.  You should always consult someone knowledgeable prior to signing a lease.

• ▶ Reply

Permalink Reply by coral on October 21, 2011 at 4:59

I had to ask Chesapeak for a copy of the lease because I could not find it anywhere! From what I understand on the lease mumbo jumbo is that I get $1 a year per acre that it's shut in and they cannot keep it shut in for more than 5 years after the initial term of the lease which was 3 years. So all I can do I guess is hope they open the well back up, it is labeled shut in-productive-future utility.

• ▶ Reply

Permalink Reply by The_Baron on October 21, 2011 at 8:32

That language is typical. Most mineral owners never even consider negociating the shut in rentals.

• ▶ Reply

Permalink Reply by coral on October 21, 2011 at 9:18

Live and learn I guess. We made out well anyway off the bonus alone so I guess it's all good.

• ▶ Reply

Permalink Reply by Bill R on October 23, 2011 at 15:12

I have to say that I have learned that in a lot of these dealings with the Oil & Gas Industry, you really have to watch both of their hands.... one may be shaking your hand, but the other one sometimes is holding a jar of Vaseline... and even when you do see the jar, be sure and check to make sure they didn't mix sand with that Vaseline! These leases at times are nothing more than a shell game and the O&G companies are running the game.

 

Since we started leasing, I have met some great Landmen and Leasing Company Employees...AND I have met some really shady bad ones! The unfortunate thing is that the 'bad' ones leave a really nasty taste in your mouth about the whole industry. To top it off, the 'bad' ones seem to hire the best 'Legal Eagles' that money can buy and they leave their 'slime trail' wherever they go as well. If not for the 'good' ones that I have run into and the excellent support from the majority of my fellow Shalers on this sites forums, I would probably have given up and quit leasing anything to anyone.

For the 'good' ones, I thank them deeply.... for the 'bad' ones (and they know who they are), may you and your Lawyers burn in Hell for all Eternity!!!!

Including the 'one' who monitors what we say on GoHaynesvilleShale.com

(Rats are everywhere now days!!!)

Please notice that I did not say the name of your company or who you represent, the survey names, the wells names, or the Courthouse you filed in, the county the leases are in,  or anything else... so you can't report what I said on here this time!!!! It is not a violation of your 'nondisclosure' addendum to your lease. 

• ▶ Reply

• ‹ Previous
• 1
• 2
• 3
• Next ›
• Page